5-10.4-8-14. Assets of Plan Exempt From Levy, Sale, Garnishment, Attachment, or Other Legal Process; Limited Assignment by Member
Sec. 14. (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 […]
5-10.4-8-15. Rollovers
Sec. 15. (a) To the extent permitted by the Internal Revenue Code and the applicable regulations and guidance, the plan may accept, on behalf of any member, a rollover distribution from any of the following: (1) A qualified plan described in Section 401(a) or Section 403(a) of the Internal Revenue Code. (2) An annuity contract […]
5-10.4-8-16. Member Disability
Sec. 16. (a) If a member becomes disabled while in a covered position, subject to any federal law limitations concerning qualified plan distributions and the member furnishing proof of the member’s qualification for Social Security disability benefits to the board, to the extent that the member is vested, the member may make a full or […]
5-10.4-8-17. Resuming Membership; Second Election Not Allowed
Sec. 17. (a) If a member of the plan separates from employment with the member’s employer and later returns to employment in a position covered by the plan: (1) the individual resumes membership in the plan; and (2) the member is entitled to receive credit for the member’s years of participation in the plan before […]
5-10.4-9-1. Definitions
Sec. 1. The following definitions apply throughout this chapter: (1) “Account” has the meaning set forth in IC 5-10.4-8-2. (2) “Plan” has the meaning set forth in IC 5-10.4-8-2. As added by P.L.217-2017, SEC.59. Amended by P.L.27-2019, SEC.18.
5-10.4-9-2. School Corporation Plan Participation Declared
Sec. 2. On the effective date of the plan, a school corporation becomes a participant in the plan. As added by P.L.217-2017, SEC.59.
5-10.4-9-3. Governing Body Actions
Sec. 3. After a school corporation becomes a participant in the plan, its governing body may make appropriations, make payments, and do all things required under IC 5-10.4-8. As added by P.L.217-2017, SEC.59.
5-10.4-8-5. Request for Irs Rulings
Sec. 5. The board may request from the Internal Revenue Service any rulings or determination letters that the board considers necessary or appropriate in order to implement or administer the plan. As added by P.L.217-2017, SEC.58.
5-10.4-9-4. Separate Accounts for Each Contribution Rate Group
Sec. 4. The board shall maintain separate accounts for each contribution rate group. Credits and charges to these accounts shall be made as prescribed under IC 5-10.4-8. As added by P.L.217-2017, SEC.59.
5-10.4-8-6. Election to Become a Member of Plan
Sec. 6. (a) An individual who, on or after the effective date of the plan, begins employment with a school corporation that participates in the plan in a covered position that would otherwise be eligible for membership in the fund under IC 5-10.4-4 may elect to become a member of the plan. (b) An election […]