Sec. 4. (a) The 1925 fund is derived from the following sources: (1) From money or other property that is given to the local board for the use of the fund. The local board may take by gift, grant, devise, or bequest of any money, chose in action, personal property, or real property, or an […]
Sec. 5. (a) If the local board determines that the total amount of money available for a year will be insufficient to pay the benefits, pensions, and retirement allowances the local board is obligated to pay under this chapter, the local board shall, before the date on which the budget of the municipality is adopted, […]
Sec. 5.5. (a) This section applies to a balance in the 1925 fund that: (1) accrued from property taxes; (2) is not necessary to meet the pension, disability, and survivor benefit payment obligations of the 1925 fund because of amendments to IC 5-10.3-11-4.7 in 2008; and (3) is determined under subsection (c). (b) A local […]
Sec. 6. (a) The local board shall determine how much of the 1925 fund may be safely invested and how much should be retained for the needs of the fund. The investment shall be made: (1) in interest bearing bonds of the United States, the state, or an Indiana municipal corporation. The bonds shall be […]
[Pre-Local Government Recodification Citation: 19-1-24-3 part.] As added by Acts 1981, P.L.309, SEC.55. Repealed by P.L.363-1983, SEC.4.
Sec. 8. (a) For a member who became disabled before July 1, 2000, the 1925 fund shall be used to pay a pension in a sum determined by the local board, but not exceeding: (1) for a disability or disease occurring before July 1, 1982, fifty percent (50%); and (2) for a disability or disease […]
Sec. 8.1. (a) If a local board determines that a fund member has a temporary or a permanent disability, the local board shall also make a recommendation to the board of trustees of the Indiana public retirement system (referred to in this section as “the system board”) concerning whether the disability is: (1) a disability […]
Sec. 9. (a) Benefits paid under this section are subject to section 1.5 of this chapter. (b) The 1925 fund shall be used to provide a member of the police department who retires from active duty after twenty (20) or more years of active duty an annual pension equal to fifty percent (50%) of the […]
Sec. 9.5. (a) Not less than thirty (30) days after a member retires from a police department covered by this chapter, the member may: (1) be rehired by the same municipality that employed the member as a police officer for a position other than that of a full-time, fully paid police officer; and (2) continue […]
Sec. 9.6. (a) This section applies to an active or retired member who dies other than in the line of duty (as defined in section 10.1 of this chapter). (b) A payment shall be made to the surviving spouse of a deceased member in an amount fixed by ordinance, but at least an amount equal […]
Sec. 9.7. (a) This section applies to a member who died in the line of duty (as defined in section 10.1 of this chapter) before September 1, 1982. (b) A payment shall be made to the surviving spouse of a deceased member in an amount fixed by ordinance, but at least an amount equal to […]
Sec. 9.8. (a) Benefits paid under this section are subject to section 1.5 of this chapter. (b) The 1925 fund shall be used to pay funeral benefits to the heirs or estate of an active or a retired member of the police department who has died from any cause, in an amount fixed by ordinance, […]
As added by P.L.50-1984, SEC.10. Repealed by P.L.200-1984, SEC.7.
