Sec. 1. The board shall do all of the following: (1) Appoint and fix the salary of a director. (2) Employ or contract with employees, auditors, technical experts, legal counsel, and other service providers as the board considers necessary to transact the business of the fund without the approval of any state officer, and fix […]
Sec. 2. (a) The board may do any of the following: (1) Establish and amend rules and regulations: (A) for the administration and regulation of the fund and the board’s affairs; and (B) to effectuate the powers and purposes of the board; without adopting a rule under IC 4-22-2. (2) Make contracts and sue and […]
Sec. 2.5. Notwithstanding any other provision in this article, IC 5-10.2, IC 5-10.3, or IC 5-10.4, the board may not, before January 1, 2017, enter into an agreement with a third party provider to provide annuities for retiring members of: (1) the public employees’ retirement fund; or (2) the teachers’ retirement fund. As added by […]
Sec. 2.6. (a) This subsection applies after September 30, 2014, and before January 1, 2017.The following interest rates shall be used to determine the annuity amount purchasable by a member of the public employees’ retirement fund or the teachers’ retirement fund who elects to receive, as part of the member’s retirement or disability benefit, an […]
Sec. 3. The board’s powers as specified in this article or the retirement law applicable to a public pension or retirement fund of the system: (1) shall be interpreted broadly to accomplish the purposes of this article or the applicable retirement law; and (2) may not be construed as a limitation of powers. As added […]
Sec. 4. Members and beneficiaries of the public pension and retirement funds of the system may receive monthly benefits only by direct deposit or another method approved by the board. As added by P.L.127-2015, SEC.2.
Sec. 5. (a) This section applies to the following public pension or retirement funds: (1) The public employees’ retirement fund established under IC 5-10.2 and IC 5-10.3. (2) The Indiana state teachers’ retirement fund established under IC 5-10.2 and IC 5-10.4. (3) The state excise police, gaming agent, gaming control officer, and conservation enforcement officers’ […]
Sec. 6. The system shall, not later than December 1 each year, submit to the budget committee the following reports concerning post-employment benefits (as defined in IC 5-10-16-5): (1) The report prepared by the system for state agencies under IC 5-10-16-7. (2) Reports received from state educational institutions under IC 21-38-3-13. As added by P.L.108-2019, […]
