Title 5, STATE AND LOCAL ADMINISTRATION

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 provid…

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 or makes an affirmative election under subsection (h…

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) me…

Sec. 4.3. (a) Not later than July 1, 2027, the deferred compensation committee shall offer, as a regular investment program within the defined contribution fund, a self directed brokerage account that offers at least one (1) cryptocurrency investment option. (b) The deferred comp…

Sec. 5. (a) The state comptroller shall provide for the administration of the state employees' deferred compensation plan. The state comptroller may, at the state comptroller's option, enter into a contract or contracts with an individual or individuals, incorporated or unincorpo…

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 ordina…

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 …

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 …

Sec. 7.6. For participants who are subject to IC 5-10-8.5-9.7(b), the state comptroller shall transfer from the state general fund a one (1) time contribution of funds to each participant's defined contribution plan account under section 1.5(a) of this chapter based on the contri…

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 ot…

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.