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 […]
5-10.4-9-5. School Corporation Appropriations and Payments From School General Fund
Sec. 5. A school corporation shall make the appropriations and payments required under this article and IC 5-10.2 from its education fund or operations fund in accordance with the categories of expenditures established under IC 20-42.5-3. As added by P.L.217-2017, SEC.59. Amended by P.L.238-2019, SEC.7.
5-10.4-8-7. Plan Contributions; Member Accounts
Sec. 7. (a) The plan consists of the following: (1) Each member’s contributions to the plan under section 9 of this chapter. (2) Contributions made by an employer to the plan on behalf of each member under section 10 of this chapter. (3) Rollovers to the plan by a member under section 15 of this […]
5-10.4-9-6. Withholding Money From or Suing a School Corporation That Fails to Make Payments to the Plan
Sec. 6. If a school corporation fails to make payments required by this chapter, the amount payable may be: (1) withheld by the auditor of state from money payable to the school corporation and transferred to the plan; or (2) recovered in a suit in the circuit or superior court of the county in which […]
5-10.4-8-8. Stable Value Fund; Alternative Investment Programs
Sec. 8. (a) Subject to the board obtaining any approval from the Internal Revenue Service that the board considers necessary or desirable, the board shall establish: (1) a stable value fund for the plan; and (2) alternative investment programs for the plan. (b) The board may adopt requirements and rules that apply to the alternative […]
5-10.4-8-9. Member Contribution; Employer Obligation to Make Required Member Contribution; Additional Member Contribution
Sec. 9. (a) Each member’s contribution to the plan is equal to three percent (3%) of the member’s compensation. (b) An employer shall pay a member’s contribution on behalf of the member. (c) To the extent permitted by the Internal Revenue Code and applicable regulations, a member of the plan may make contributions to the […]
5-10.4-8-10. Contribution Rates
Sec. 10. (a) An employer shall make employer contributions to the plan based on the rate determined under this section. (b) The employer’s contribution rate for the plan must be 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 […]
5-10.4-8-11. Contributions and Earnings Belong to Member; Vesting in Employer Contribution Subaccount; Forfeiture of Employer Contributions
Sec. 11. (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 the 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 […]