Sec. 0.3. If before June 1, 1985, the board approved a member’s choice of retirement date that preceded the member’s application for benefits, payments made as a result of the choice of retirement date are legalized. As added by P.L.220-2011, SEC.77.
Sec. 0.4. (a) If the board, the state, or a political subdivision denied, after December 31, 1986, an employee of the state or the political subdivision who was sixty (60) years of age or older the option not to join the fund, the denial is validated. (b) Actions taken by the board before March 5, […]
Sec. 1. (a) The public employees’ retirement fund of Indiana, referred to as the fund, is established to pay benefits to officers and employees of the state and its political subdivisions after specified years of service and under other specified circumstances. The purpose of the fund is to promote economy and efficiency in the administration […]
Sec. 2. No individual, group of persons, or entity has a right to any specific security, property, or cash other than an undivided interest in the whole fund as specified in this article. As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.28-1984, SEC.3.
Sec. 3. The general assembly intends that, to the extent specified in this article, the payments to the fund by the state or the participating political subdivisions, the payment of all benefits, the payment of interest credits, and the payment of administration expenses are obligations of the state and the participating political subdivisions. However, this […]
Sec. 4. (a) The following definitions apply throughout this section: (1) “Defined contribution plan” refers to the public employees’ defined contribution plan established under IC 5-10.3-12. (2) “Eligible entity” means an entity that is eligible but not required to participate in the public employees’ retirement fund. (3) “Qualifying employee” means an employee who would be […]
