Sec. 0.3. The actions taken by a school corporation before January 1, 1988, to: (1) establish an employee savings plan that is a defined contribution plan qualified under Section 401(a) of the Internal Revenue Code; and (2) contribute amounts to the employee savings plan on behalf of the employee, with those amounts to be credited […]
Sec. 1. The state and any political subdivision (as defined by IC 36-1-2-13) may: (1) agree with any employee to reduce and defer any portion of such employee’s compensation which under federal law may be deferred under a nonqualified deferred compensation plan and subsequently contract for, purchase, or otherwise procure insurance and investment products appropriate […]
Sec. 1.5. (a) The state, through the budget agency, may adopt a defined contribution plan, under Section 401(a) of the Internal Revenue Code, for the purpose of matching all or a specified portion of state employees’ contributions to the state employees’ deferred compensation plan and for any additional purposes established by statute. (b) The deferred […]
Sec. 2. As used in this chapter, “employee” means any person, including a person elected, appointed or under contract, receiving compensation from the state or any political subdivision as described in section 1 of this chapter. Formerly: Acts 1975, P.L.42, SEC.1.
Sec. 3. A deferred compensation plan established under this chapter exists and serves in addition to other retirement, pension and benefit systems established by the state, or political subdivision, and may not effect a reduction of any retirement, pension or other benefit provided by applicable law. Any compensation deferred under such a plan shall continue […]
Sec. 3.5. (a) This section applies to an individual who becomes an employee of the state after June 30, 2007. (b) Unless an employee notifies the state that the employee does not want to enroll in the deferred compensation plan, on day thirty-one (31) of the employee’s employment: (1) the employee is automatically enrolled in […]
Sec. 4. (a) The deferred compensation committee is established. The committee consists of five (5) persons appointed by the state board of finance as follows: (1) Each member of the state board of finance shall appoint one (1) member to the committee. (2) The remaining two (2) members: (A) must be participants in the state […]
As added by P.L.217-2017, SEC.51. Amended by P.L.86-2018, SEC.13. Repealed by P.L.212-2018(ss), SEC.11.
Sec. 5. (a) The auditor of state shall provide for the administration of the state employees’ deferred compensation plan. The auditor of state may, at the auditor of state’s option, enter into a contract or contracts with an individual or individuals, incorporated or unincorporated organizations or associations, the state of Indiana, units of local government, […]
Sec. 6. The state or political subdivision under a deferred compensation plan shall be obligated at any point in time solely for the then current market value of the funding theretofore made. Formerly: Acts 1975, P.L.42, SEC.1. As amended by P.L.15-1998, SEC.4.
Sec. 7. (a) Any political subdivision (as defined in IC 36-1-2-13) may establish for its employees a deferred compensation plan. The plan shall be selected by the governing body of the political subdivision, which in the case of a unit subject to IC 36-1-3 shall be done by ordinance. Participation shall be by written agreement […]
Sec. 7.3. (a) Any political subdivision (as defined in IC 36-1-2-13) that elects to use the state employees’ deferred compensation plan for its employees as authorized in section 7(b)(2) or 7(b)(3) of this chapter also may elect to participate in the state’s defined contribution plan established by section 1.5 of this chapter for the purpose […]
Sec. 7.5. (a) As used in this section, “state agency” means the following: (1) An authority, a board, a branch, a commission, a committee, a department, a division, or other instrumentality of state government. (2) A separate corporate body politic that adopts the plan described in subsection (b). (3) State elected officials and their office […]
Sec. 8. This chapter shall be supplemental and in addition to all other laws. The powers and duties given to the state and its political subdivisions in this chapter shall be in addition to those given by any other law and shall not be subject to the limitations set out in the other law. Formerly: […]
Sec. 9. All amounts held under any deferred compensation plan established under this chapter must be held for the exclusive benefit of participants of the plan and their beneficiaries, as required by Section 457(g) of the Internal Revenue Code. As added by P.L.15-1998, SEC.6.
