5-10.3-12-20.3. Election During July 2016, by First Time State Employee Who Is Fund Member
Sec. 20.3. (a) This section applies to an individual who: (1) is an employee of the state on July 1, 2016; (2) became for the first time, after January 1, 2013, a full-time employee of the state in a position that is eligible for membership in the fund under IC 5-10.3-7; and (3) is a […]
5-10.3-12-20.5. Election by Employee of Political Subdivision to Become Plan Member; Failure to Make Election
Sec. 20.5. (a) This section applies to an individual described in section 1(a)(3) of this chapter who is otherwise eligible to become a member of the plan. (b) An individual described in subsection (a) may elect to become a member of the plan on the date the individual begins the individual’s employment in a covered […]
5-10.3-12-21. Plan; Member Accounts; Rollover Accounts
Sec. 21. (a) The plan consists of the following: (1) Each member’s contributions to the plan under section 23 of this chapter. (2) Contributions made by an employer to the plan on behalf of each member under section 24 or 24.5 of this chapter. (3) Rollovers to the plan by a member under section 29 […]
5-10.3-12-22. Alternative Investment Programs; Stable Value Fund Program; Requirements and Rules; Administrative Fees
Sec. 22. (a) Subject to the board obtaining the approval of the Internal Revenue Service as described in section 18(b) of this chapter, the board shall establish: (1) a stable value fund as the regular investment program for the plan; and (2) alternative investment programs for the plan. (b) The board may adopt requirements and […]
5-10.3-12-23. Member Required Contributions; Additional Contributions; Crediting; Employer Pick-Up and Payment
Sec. 23. (a) This section does not apply to a member of the plan described in section 1(a)(7) of this chapter with respect to the member’s service with a volunteer fire department. (b) Each member’s contribution to the plan is equal to three percent (3%) of the member’s compensation. (c) For a member who is […]
5-10.3-12-24. State Employer Contribution; Contribution Rate Determination; Minimum Rate; Amounts Credited; Electronic Submission of Contributions
Sec. 24. (a) The state shall make employer contributions to the plan based on the rate determined under this section. (b) The state’s contribution rate for the plan is equal to the employer’s contribution rate for the fund as determined by the board under IC 5-10.2-2-11(b). The amount credited from the employer’s contribution rate to […]
5-10.3-12-24.5. Political Subdivision Employer Contribution; Contribution Rate Determination; Amounts Credited; Electronic Submission of Contributions
Sec. 24.5. (a) This section does not apply to a participating political subdivision’s contributions for an individual described in section 1(a)(7) of this chapter with respect to the individual’s service with a volunteer fire department. (b) A participating political subdivision shall make employer contributions to the plan based on the rate determined under this section. […]
5-10.3-12-24.7. Political Subdivision Contributions; Members of a Volunteer Fire Department
Sec. 24.7. (a) This section applies to a participating political subdivision’s contributions for an individual described in section 1(a)(7) of this chapter with respect to the individual’s service with a volunteer fire department. (b) The governing body of a participating political subdivision shall determine the participating political subdivision’s contribution to the plan for individuals described […]
5-10.3-12-25. Member Contributions Belong to Member; Vesting Schedule for Employer Contributions; Forfeiture of Amounts Not Vested
Sec. 25. (a) Member contributions and net earnings on the member contributions in the member contribution subaccount belong to the member at all times and do not belong to any employer. (b) A member is vested in the employer contribution subaccount in accordance with the following schedule: Years of participation in the Vested percentage of […]
5-10.3-12-26. Member Accounts; Withdrawals; Forms of Payment
Sec. 26. (a) After December 31, 2020, subject to the provisions of the Internal Revenue Code applicable to qualified plan distributions, a member who terminates service in a covered position is entitled to withdraw all or part of the amounts in the member’s account to the extent the member is vested in the account. A […]