5-10.5-7-1. Short Title
Sec. 1. This article shall be known as and may be cited as the Indiana public pension modernization act. As added by P.L.23-2011, SEC.22.
5-10.5-7-2. Transfer or Assumption of Tangible and Intangible Property; Transfer of Powers and Duties
Sec. 2. (a) All powers, duties, liabilities, property, equipment, records, rights, and contracts of the: (1) board of trustees of the public employees’ retirement fund; and (2) board of trustees of the teachers’ retirement fund; are transferred to or assumed by the board on July 1, 2011. (b) The board shall provide indemnification of: (1) […]
5-10.5-7-3. Transfer of Fund and Account Balances
Sec. 3. Any amounts transferred under this subsection to the system that represent balances in any fund or account of the public employees’ retirement fund or the teachers’ retirement fund for the administration of the public pension and retirement funds administered by the public employees’ retirement fund or the teachers’ retirement fund before July 1, […]
5-10.5-7-4. Transfer of Employees
Sec. 4. The employees of the: (1) public employees’ retirement fund; and (2) teachers’ retirement fund; become employees of the system on July 1, 2011, without change in compensation, seniority, or benefits. An employee of the public employees’ retirement fund who is a member of the public employees’ retirement fund before July 1, 2011, and […]
5-10.5-7-5. Rules and Regulations
Sec. 5. Rules and regulations of: (1) the public employees’ retirement fund; and (2) the teachers’ retirement fund; in effect before July 1, 2011, are considered, after June 30, 2011, rules and regulations of the system. As added by P.L.23-2011, SEC.22.
5-10.5-7-6. References and Cross-References
Sec. 6. (a) Any reference or cross-reference to: (1) the board of trustees of the public employees’ retirement fund; or (2) the board of trustees of the teachers’ retirement fund; in the Indiana Code shall be treated after June 30, 2011, as a reference or cross-reference to the board. (b) Any reference or cross-reference to: […]
5-10.5-7-7. Conflicts
Sec. 7. If any provision in this article conflicts with a provision in IC 5-10.2, IC 5-10.3, or IC 5-10.4, the provisions shall be read together to the extent possible with any conflict resolved in favor of the provision in this article. As added by P.L.23-2011, SEC.22.