5-10.4-5-7. Member-Legislators
Sec. 7. (a) As used in this section, “member-legislator” means a member who has at least: (1) twenty (20) years of service credit as a teacher; and (2) ten (10) years of service in the general assembly. (b) Notwithstanding IC 5-10.2-4-3 or IC 5-10.2-4-3.1, in computing the pension for a member-legislator, the average of the […]
5-10.4-5-8. Designation of Retirement Date
Sec. 8. (a) A member who: (1) has ceased employment in the public schools; and (2) is eligible for retirement benefits; shall designate a retirement date as described in IC 5-10.2-4-1. (b) A member who chooses to begin receiving retirement benefits at the time the member ceases employment is entitled to receive the proportionate amount […]
5-10.4-5-9. Schedule; Initial Pension Benefit
Sec. 9. (a) The fund shall make a member’s first pension benefit payment not more than ninety (90) days after the date the member completes and files an application for retirement benefits. (b) After the first pension benefit payment and except as provided under IC 5-10.2-4-7(f), a person entitled to benefits shall receive a retirement […]
5-10.4-5-10. Cancellation of Uncashed Benefit Check
Sec. 10. (a) If a benefit check issued by the fund is outstanding and unpaid for more than six (6) months after the date the check is issued, the benefit check is canceled. (b) A benefit check canceled under subsection (a) may not be honored, cashed, or accepted for payment or deposit by an individual, […]
5-10.4-5-11. Payment Options
Sec. 11. A member may have the member’s retirement benefits paid under the options specified in IC 5-10.2-4-7. [Pre-2006 Education Finance Recodification Citation: 21-6.1-5-13.] As added by P.L.2-2006, SEC.28.
5-10.4-5-12. Death Before Retirement; Payment of Benefits
Sec. 12. If a member dies before retirement, the member’s benefits are paid as specified in IC 5-10.2-3-7.5, IC 5-10.2-3-7.6, and IC 5-10.2-3-8. [Pre-2006 Education Finance Recodification Citation: 21-6.1-5-14.] As added by P.L.2-2006, SEC.28.
5-10.4-5-13. Calculation of Benefit; Teaching After Initial Retirement
Sec. 13. IC 5-10.2-4-8 applies to the reemployment of a retired member. [Pre-2006 Education Finance Recodification Citation: 21-6.1-5-16.] As added by P.L.2-2006, SEC.28. Amended by P.L.72-2007, SEC.9; P.L.76-2008, SEC.6; P.L.115-2009, SEC.18.
5-10.4-5-14. Benefits Exempted From Legal Process; Reimbursement of Employers; Withholding of Payments While Charges of Criminal Taking From Employer Pending
Sec. 14. (a) The benefits payable from the fund are exempt from seizure or levy on attachment, supplemental process, and all other processes. However, the member’s contributions or benefits, or both, may be transferred by the board to reimburse the member’s employer for loss resulting from the member’s criminal taking of the employer’s property if […]
5-10.4-5-14.5. Assignment of Benefits
Sec. 14.5. A member’s transfer of a benefit payment is void. However, a member may assign benefits for paying: (1) premiums on a group, life, hospitalization, surgical, or medical insurance plan maintained in whole or in part by a state agency; and (2) dues to any association that proves to the board’s satisfaction that the […]
5-10.4-5-15. Termination of Benefits; Grounds; Limitations
Sec. 15. (a) The board may stop a member’s benefit if the member does any of the following while receiving the benefit: (1) Fails to report for a required examination, unless excused by the board. (2) Disobeys the requirements of the board regarding the examination. (3) Refuses to repay an overpayment of benefits. (b) The […]