5-10.2-2-0.1. Application of Certain Amendments to Chapter
Sec. 0.1. The addition of section 18 of this chapter by P.L.224-2003 applies only to investments made after June 30, 2003. As added by P.L.220-2011, SEC.71.
5-10.2-2-1. Scope; Purpose
Sec. 1. (a) This article applies to the Indiana state teachers’ retirement fund and the public employees’ retirement fund. Each retirement fund covered by this article is a separate retirement fund managed by the board under the fund’s retirement fund law. The board shall make and publish regulations which are appropriate to the efficient administration […]
5-10.2-2-1.5. Qualification Under Internal Revenue Code
Sec. 1.5. Each retirement fund covered by this article shall satisfy the qualification requirements in Section 401 of the Internal Revenue Code, as applicable to each retirement fund. In order to meet those requirements, each fund is subject to the following provisions, notwithstanding any other provision of the retirement fund law: (1) The board shall […]
5-10.2-2-10. Mortality Tables
Sec. 10. Based on the actuarial investigation and valuation in section 9 of this chapter, the board shall adopt mortality, service, and such other tables as the board considers necessary for the implementation of this article. The board shall adopt a single mortality table for both men and women that reasonably reflects each fund’s mortality […]
5-10.2-2-11. Contribution Rate Determination; Contribution Rate Groups; Supplemental Contributions; Contributions and Contribution Rates Report
Sec. 11. (a) Based on the actuarial investigation and valuation in section 9 of this chapter, the board shall determine: (1) the normal contribution for each contribution rate group, which is the amount necessary to fund the pension portion of the retirement benefit; (2) the rate of normal contribution; (3) the unfunded accrued liability of […]
5-10.2-2-11.5. Employer Contribution Rates for Vincennes University
Sec. 11.5. (a) As used in this section, “Vincennes University” refers to the state educational institution established under IC 21-25-2. (b) Notwithstanding section 11 of this chapter or any other law, Vincennes University is not required to make employer contributions to the Indiana state teachers’ retirement fund at any time for the employment during the […]
5-10.2-2-12. State Appropriation
Sec. 12. (a) The general assembly shall appropriate biennially for each fund covered by this article that satisfies the conditions of section 1.5 of this chapter the sum of the following: (1) the state’s normal contribution for its employees to the public employees’ retirement fund, the pre-1996 account, and the 1996 account, as determined in […]
5-10.2-2-12.5. Submission of Contributions, Records, and Reports Electronically
Sec. 12.5. (a) This section applies to reports, records, and contributions submitted after December 31, 2009, by an employer. (b) As used in this section, “electronic funds transfer” has the meaning set forth in IC 4-8.1-2-7(f). (c) Except as provided in subsection (e), an employer shall submit through the use of electronic funds transfer: (1) […]
5-10.2-2-13. Custodial Agreements for Securities; Servicing of Mortgages; Securities Lending Program
Sec. 13. (a) The board may enter into a custodial agreement with a trust company or state or national bank to provide for the custody and servicing of the securities and other investments under the control of the board. (b) The agreement may contain such terms as the board considers desirable including: (1) the custody, […]
5-10.2-2-14. Transfer of Benefits to Financial Institutions; Rollover
Sec. 14. (a) Upon written authorization of a retired member or a retired member’s survivor or beneficiary, each fund may satisfy a claim for benefits by directly depositing the amount of the benefits payable to the retired member’s or the survivor’s or beneficiary’s account in any state or federal chartered financial institution (as defined in […]
5-10.2-2-15. Repealed
As added by P.L.55-1993, SEC.1. Amended by P.L.5-1997, SEC.2. Repealed by P.L.1-2002, SEC.172.
5-10.2-2-16. Repealed
As added by P.L.246-2001, SEC.2. Repealed by P.L.23-2011, SEC.31.
5-10.2-2-17. Repealed
As added by P.L.246-2001, SEC.3. Amended by P.L.2-2006, SEC.22. Repealed by P.L.23-2011, SEC.31.
5-10.2-2-19. Repealed
As added by P.L.107-2010, SEC.1. Repealed by P.L.23-2011, SEC.31.
5-10.2-2-2. Separate Accounts and Subaccounts
Sec. 2. (a) The board shall maintain the following separate accounts in the public employees’ retirement fund: (1) The annuity savings account. (2) The retirement allowance account. (3) A supplemental allowance reserve account for the purpose of paying postretirement benefit adjustments, including postretirement benefit increases, thirteenth checks, and other benefit changes or adjustments granted by […]
5-10.2-2-2.5. Investment Guidelines and Limits Established by Boards; Commingling of Assets
Sec. 2.5. (a) The board may establish investment guidelines and limits on all types of investments (including, but not limited to, stocks and bonds) and take other actions necessary to fulfill its duty as a fiduciary for all assets under its control, subject to the limitations and restrictions set forth in section 18 of this […]
5-10.2-2-20. Withdrawal of Miscellaneous Participating Entity
Sec. 20. (a) As used in this section: (1) “fund” means the public employees’ retirement fund; and (2) “withdrawing participating entity” means a miscellaneous participating entity that takes an action described in subsection (b). (b) Subject to the provisions of this section, a miscellaneous participating entity may do the following: (1) Stop its participation in […]
5-10.2-2-21. Freeze in Participation by Miscellaneous Participating Entity
Sec. 21. (a) This section applies to a miscellaneous participating entity that takes any of the following actions on or after December 31, 2010: (1) The miscellaneous participating entity determines a date: (A) before which newly hired employees of a departmental, occupational, or other definable classification of employees are required or allowed to participate in […]
5-10.2-2-22. Retirement Plans Offered by Miscellaneous Participating Entity That Withdraws From or Freezes Participation in Public Employees’ Retirement Fund
Sec. 22. (a) This section applies to a miscellaneous participating entity that: (1) either: (A) withdraws from the public employees’ retirement fund under section 20 of this chapter; or (B) freezes its participation in the public employees’ retirement fund as described in section 21 of this chapter; and (2) chooses thereafter to offer a retirement […]
5-10.2-2-23. Election or Discretionary Action by Branch of State Government
Sec. 23. If any provision of this article, IC 5-10.3, or IC 5-10.4 allows the state as an employer to make an election or take discretionary action, the election or discretionary action shall be taken by the following entities, as applicable: (1) The governor, if the election or discretionary action involves an elected officer, appointed […]