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 […]
5-10.3-12-27. Member Accounts; Beneficiary or Survivor Withdrawals; Forms of Payment
Sec. 27. (a) If a member dies: (1) while in service in a position covered by the plan but not in the line of duty; or (2) after terminating service in a position covered by the plan but before withdrawing the member’s account; to the extent that the member is vested, the member’s account shall […]
5-10.3-12-28. Plan Exempt From Legal Process; Assignment of Payments
Sec. 28. (a) All assets in the plan are exempt from levy, sale, garnishment, attachment, or other legal process. (b) A member, beneficiary, or survivor may not assign any payment under this chapter except for the following: (1) Premiums on a life, hospitalization, surgical, or medical group insurance plan maintained in part by a state […]
5-10.3-12-4. “Board”
Sec. 4. As used in this chapter, “board” has the meaning set forth in IC 5-10.3-1-1. As added by P.L.22-2011, SEC.2.
5-10.3-12-17. Applicability of Other Laws
Sec. 17. Except as otherwise provided in this chapter or by federal law, and subject to the board obtaining the approval of the Internal Revenue Service as described in section 18(b) of this chapter, the provisions of IC 5-10.3 that apply to the annuity savings account apply to an account established under this chapter. As […]
5-10.3-12-5. “Compensation”
Sec. 5. As used in this chapter, “compensation” has the meaning set forth in IC 5-10.2-3-2(a). As added by P.L.22-2011, SEC.2.
5-10.3-12-18. Establishment and Administration of Plan; Internal Revenue Service Approval
Sec. 18. (a) The public employees’ defined contribution plan is established for the purpose of providing amounts funded by an employer and a member for the use of the member or the member’s beneficiaries or survivors after the member’s retirement. (b) The board shall adopt provisions to implement the plan established under subsection (a) as […]