Sec. 1. (a) The board of trustees of the Indiana public retirement system is established. (b) The board shall manage and administer each public pension or retirement fund that comprises the system in accordance with: (1) this article; and (2) the retirement law applicable to the public pension or retirement fund. As added by P.L.23-2011, […]
Sec. 10. (a) Five (5) trustees constitute a quorum for the transaction of business. (b) Each trustee is entitled to one (1) vote. (c) A majority vote of the trustees present is required for the board to adopt a resolution or take other action at a regular or special meeting. As added by P.L.23-2011, SEC.22.
Sec. 2. (a) The board is composed of nine (9) trustees appointed by the governor as follows: (1) At least one (1) trustee must have experience in economics, finance, or investments. (2) At least one (1) trustee must have experience in executive management or benefits administration. (3) The director of the office of management and […]
Sec. 3. (a) A trustee shall serve a term of four (4) years, beginning on July 1 following the trustee’s appointment. (b) Whenever a trustee is appointed to fill a vacancy caused by death or resignation, the trustee shall serve the unexpired term of the trustee’s predecessor. (c) A trustee shall serve until the trustee’s […]
Sec. 5. (a) Each trustee shall take an oath of office. The oath must be: (1) subscribed to by the trustee making the oath; (2) certified by the officer before whom the trustee takes the oath; and (3) filed with the secretary of state. (b) A trustee is qualified for membership on the board when […]
Sec. 6. (a) Each trustee is entitled to reimbursement for necessary expenses actually incurred through service on the board. (b) Trustee expenses shall be paid from fund assets. As added by P.L.23-2011, SEC.22.
Sec. 7. (a) Not later than December 31 each year, the board shall elect a chair and vice chair from its members to serve as the officers of the board. (b) An officer shall serve for one (1) year or until the officer’s successor is elected and qualified. As added by P.L.23-2011, SEC.22. Amended by […]
Sec. 8. (a) The board shall hold regular meetings at least quarterly. (b) The board may hold special meetings: (1) at the call of the chair; or (2) with a written request signed by at least five (5) trustees. (c) The board may hold its meetings at the system’s general offices or at any other […]
As added by P.L.23-2011, SEC.22. Repealed by P.L.134-2012, SEC.7.
