5-10.4-5-6. Eligibility for Retirement Benefits
Sec. 6. A member is eligible for retirement benefits as specified in IC 5-10.2-4. [Pre-2006 Education Finance Recodification Citation: 21-6.1-5-7.] As added by P.L.2-2006, SEC.28.
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 […]
5-10.4-5-0.2. Application of Certain Amendments to Chapter
Sec. 0.2. The amendments made to IC 21-6.1-5-9 (before its repeal, now codified at section 9 of this chapter) by P.L.190-2003 apply to retirement benefits payable by the Indiana state teachers’ retirement fund after June 30, 2003. As added by P.L.220-2011, SEC.90.
5-10.4-5-0.3. Validation of Certain Actions Taken by Public Schools
Sec. 0.3. Actions taken by the public schools after December 31, 1986, and before March 5, 1988, that would have been valid under IC 21-6.1-5-6 (before its repeal), as amended by P.L.46-1988, are validated. As added by P.L.220-2011, SEC.91.
5-10.4-5-1. Disability Benefit
Sec. 1. (a) A member who becomes disabled after June 30, 1984, may receive a benefit under this section and sections 2 through 4 of this chapter. If the member qualifies for disability retirement under IC 5-10.2-4-6, the member may choose to receive a benefit under IC 5-10.2-4-6 instead of under this section and sections […]
5-10.4-5-2. Calculation of Disability Benefit
Sec. 2. (a) The monthly classroom disability benefit paid under section 1 of this chapter is determined in STEP THREE of the following formula: STEP ONE: Subtract five (5) from the total years of service credit earned by the member before the date of the member’s disability. STEP TWO: Multiply the remainder determined under STEP […]
5-10.4-5-3. Deduction From Death Benefits
Sec. 3. (a) If a member dies while on a classroom disability benefit, the member’s total classroom disability benefit payments are deducted from the funds that are paid to the member’s estate or designated beneficiary. (b) If a member stops receiving a classroom disability benefit, returns to teaching, and dies before retirement, the member’s total […]
5-10.4-5-4. Election to Terminate Disability Benefit at Retirement Age
Sec. 4. After reaching sixty-five (65) years of age or an earlier retirement date selected by the member, the member may request that the member’s classroom disability benefit payments cease and the member’s retirement benefits begin. A member’s retirement benefits may not be reduced because the member received classroom disability benefits. [Pre-2006 Education Finance Recodification […]