Title 5, TITLE 5. STATE AND LOCAL ADMINISTRATION
355 chapters · 3,747 sections in this title.
Ind. Code § 5-10.2-12-3 Contribution rate surcharge
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Sec. 3. (a) For 2019 and each year thereafter, the contribution rate established by the board for each employer shall include a surcharge determined by the board: (1) that is paid to the supplemental allowance reserve account of the applicable fund or plan; and (2) that does not …
Ind. Code § 5-10.2-12-4 Supplemental allowance reserve account; actuarial report;
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grants of postretirement benefits Sec. 4. (a) In each even-numbered calendar year, beginning in 2018, the board shall present to the interim study committee on pension management oversight (established by IC 2-5-1.3-4) an actuarial report concerning the status of each supplementa…
Ind. Code § 5-10.3-12-1 Applicability of chapter
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Sec. 1. (a) Except as otherwise provided in this section, this chapter applies to the following: (1) An individual who: (A) on or after the effective date of the plan, becomes for the first time a full-time employee of the state: (i) in a position that would otherwise be eligible…
Ind. Code § 5-10.3-12-10 "Fund"
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Sec. 10. As used in this chapter, "fund" has the meaning set forth in IC 5-10.3-1-3. As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-11 "Internal Revenue Code"
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Sec. 11. As used in this chapter, "Internal Revenue Code" has the meaning set forth in IC 5-10.2-1-3.5. As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-12 "Member"
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Sec. 12. As used in this chapter, "member" means an individual who has elected or is required to participate in the plan. As added by P.L.22-2011, SEC.2. Amended by P.L.241-2015, SEC.27.
Ind. Code § 5-10.3-12-13 "Member contribution subaccount"
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Sec. 13. As used in this chapter, "member contribution subaccount" means the subaccount in a member's plan account established under section 21(b)(1) of this chapter. As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-14 "Normal retirement age"
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Sec. 14. As used in this chapter, "normal retirement age" for a member means the member is at least sixty-two (62) years of age with at least five (5) years of participation in the plan. As added by P.L.22-2011, SEC.2. Amended by P.L.66-2013, SEC.1.
Ind. Code § 5-10.3-12-14.5 "Participating political subdivision"
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Sec. 14.5. As used in this chapter, "participating political subdivision" means a political subdivision which is participating in the plan as specified in IC 5-10.3-6. As added by P.L.241-2015, SEC.28.
Ind. Code § 5-10.3-12-15 "Plan"
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Sec. 15. As used in this chapter, "plan" refers to the public employees' defined contribution plan established by section 18 of this chapter. As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-15.5 "Volunteer fire department"
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Sec. 15.5. As used in this chapter, "volunteer fire department" has the meaning set forth in IC 36-8-12-2. As added by P.L.96-2020, SEC.4.
Ind. Code § 5-10.3-12-16 "Years of participation"
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Sec. 16. As used in this chapter, "years of participation" means periods of participation in the plan in a covered position, plus any additional service for which this chapter provides years of participation credit, except that the term excludes periods of participation in the pl…
Ind. Code § 5-10.3-12-17 Applicability of other laws
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Sec. 17. Except as otherwise provided in this chapter or by federal law, and subject to the board obtaining the approval of the Internal Revenue Service as described in section 18(b) of this chapter, the provisions of IC 5-10.3 that apply to the annuity savings account apply to a…
Ind. Code § 5-10.3-12-18 Establishment and administration of plan; Internal Revenue
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Service approval Sec. 18. (a) The public employees' defined contribution plan is established for the purpose of providing amounts funded by an employer and a member for the use of the member or the member's beneficiaries or survivors after the member's retirement. (b) The board s…
Ind. Code § 5-10.3-12-19 Authorization to request Internal Revenue Service rulings or
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determination letters Sec. 19. The board may request from the Internal Revenue Service any rulings or determination letters that the board considers necessary or appropriate in order to implement or administer the plan. As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-2 "Account"
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Sec. 2. As used in this chapter, "account" means the plan account established for a member under section 21(b) of this chapter. As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-20 Plan membership; election; fund membership
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Sec. 20. (a) This section applies only to an individual who, on or after the effective date of the plan, becomes for the first time a full-time employee of the state in a position that would otherwise be eligible for membership in the fund under IC 5-10.3-7. (b) An individual to …
Ind. Code § 5-10.3-12-20.3 Election during July 2016, by first time state employee who is
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fund member Sec. 20.3. (a) This section applies to an individual who: (1) is an employee of the state on July 1, 2016; (2) became for the first time, after January 1, 2013, a full-time employee of the state in a position that is eligible for membership in the fund under IC 5-10.3…
Ind. Code § 5-10.3-12-20.5 Election by employee of political subdivision to become plan
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member; failure to make election Sec. 20.5. (a) This section applies to an individual described in section 1(a)(3) of this chapter who is otherwise eligible to become a member of the plan. (b) An individual described in subsection (a) may elect to become a member of the plan on t…
Ind. Code § 5-10.3-12-21 Plan; member accounts; rollover accounts
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Sec. 21. (a) The plan consists of the following: (1) Each member's contributions to the plan under section 23 of this chapter. (2) Contributions made by an employer to the plan on behalf of each member under section 24 or 24.5 of this chapter. (3) Rollovers to the plan by a membe…
Ind. Code § 5-10.3-12-22 Alternative investment programs; stable value fund program;
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requirements and rules; administrative fees Sec. 22. (a) Subject to the board obtaining the approval of the Internal Revenue Service as described in section 18(b) of this chapter, the board shall establish: (1) a stable value fund as the regular investment program for the plan; a…
Ind. Code § 5-10.3-12-23 Member required contributions; additional contributions;
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crediting; employer pick-up and payment Sec. 23. (a) This section does not apply to a member of the plan described in section 1(a)(7) of this chapter with respect to the member's service with a volunteer fire department. (b) Each member's contribution to the plan is equal to thre…
Ind. Code § 5-10.3-12-24 State employer contribution; contribution rate determination;
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minimum rate; amounts credited; electronic submission of contributions Sec. 24. (a) The state shall make employer contributions to the plan based on the rate determined under this section. (b) The state's contribution rate for the plan is equal to the employer's contribution rate…
Ind. Code § 5-10.3-12-24.5 Political subdivision employer contribution; contribution rate
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determination; amounts credited; electronic submission of contributions Sec. 24.5. (a) This section does not apply to a participating political subdivision's contributions for an individual described in section 1(a)(7) of this chapter with respect to the individual's service with…
Ind. Code § 5-10.3-12-24.7 Political subdivision contributions; members of a volunteer fire
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department Sec. 24.7. (a) This section applies to a participating political subdivision's contributions for an individual described in section 1(a)(7) of this chapter with respect to the individual's service with a volunteer fire department. (b) The governing body of a participat…
Ind. Code § 5-10.3-12-25 Member contributions belong to member; vesting schedule for
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employer contributions; forfeiture of amounts not vested Sec. 25. (a) Member contributions and net earnings on the member contributions in the member contribution subaccount belong to the member at all times and do not belong to any employer. (b) A member is vested in the employe…
Ind. Code § 5-10.3-12-26 Member accounts; withdrawals; forms of payment
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Sec. 26. (a) After December 31, 2020, subject to the provisions of the Internal Revenue Code applicable to qualified plan distributions, a member who terminates service in a covered position is entitled to withdraw all or part of the amounts in the member's account to the extent …
Ind. Code § 5-10.3-12-27 Member accounts; beneficiary or survivor withdrawals; forms
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of payment Sec. 27. (a) If a member dies: (1) while in service in a position covered by the plan but not in the line of duty; or (2) after terminating service in a position covered by the plan but before withdrawing the member's account; to the extent that the member is vested, t…
Ind. Code § 5-10.3-12-28 Plan exempt from legal process; assignment of payments
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Sec. 28. (a) All assets in the plan are exempt from levy, sale, garnishment, attachment, or other legal process. (b) A member, beneficiary, or survivor may not assign any payment under this chapter except for the following: (1) Premiums on a life, hospitalization, surgical, or me…
Ind. Code § 5-10.3-12-29 Rollover contributions; rollover accounts
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Sec. 29. (a) To the extent permitted by the Internal Revenue Code and the applicable regulations and guidance, the plan may accept, on behalf of any member, a rollover distribution from any of the following: (1) A qualified plan described in Section 401(a) or Section 403(a) of th…
Ind. Code § 5-10.3-12-3 "Annuity savings account"
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Sec. 3. As used in this chapter, "annuity savings account" means the annuity savings account maintained under IC 5-10.2-2-2(a)(1). As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-30 Member accounts; disability withdrawals; forms of payment
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Sec. 30. (a) If a member becomes disabled while in a covered position, subject to any federal law limitations concerning qualified plan distributions and the member furnishing proof of the member's qualification for Social Security disability benefits to the board, to the extent …
Ind. Code § 5-10.3-12-31 Effect of reemployment on plan participation
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Sec. 31. (a) If a member of the plan separates from employment with the member's employer and later begins employment with the same or a different employer in a position covered by the plan: (1) the member resumes the member's participation in the plan; and (2) the member is enti…
Ind. Code § 5-10.3-12-32 Election by state or participating political subdivision to allow
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plan participation by retired reemployed fund members Sec. 32. (a) Notwithstanding section 20 and section 31(b) of this chapter, the state may elect to allow an individual who meets the following conditions to begin or resume membership in the plan for a period of reemployment wi…
Ind. Code § 5-10.3-12-4 "Board"
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Sec. 4. As used in this chapter, "board" has the meaning set forth in IC 5-10.3-1-1. As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-5 "Compensation"
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Sec. 5. As used in this chapter, "compensation" has the meaning set forth in IC 5-10.2-3-2(a). As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-6 "Dies in the line of duty"
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Sec. 6. As used in this chapter, "dies in the line of duty" has the meaning set forth in IC 5-10-11-2. As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-7 "Effective date"
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Sec. 7. As used in this chapter, "effective date" means the first day of the month that is six (6) months after the month in which the Internal Revenue Service issues an approval of the plan. As added by P.L.22-2011, SEC.2.
Ind. Code § 5-10.3-12-7.5 "Employees of the state"
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Sec. 7.5. As used in this chapter, "employees of the state" has the meaning set forth in IC 5-10.3-7-1. As added by P.L.241-2015, SEC.25. IC 5-10.3-12-8 "Employer" Sec. 8. As used in this chapter, "employer" means the state or a participating political subdivision. As added by P.…
Ind. Code § 5-10.3-12-9 "Employer contribution subaccount"
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Sec. 9. As used in this chapter, "employer contribution subaccount" means the subaccount in a member's plan account established under section 21(b)(2) of this chapter. As added by P.L.22-2011, SEC.2.