Title 5, TITLE 5. STATE AND LOCAL ADMINISTRATION
355 chapters · 3,747 sections in this title.
Ind. Code § 5-10.2-2-14 Transfer of benefits to financial institutions; rollover
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Sec. 14. (a) Upon written authorization of a retired member or a retired member's survivor or beneficiary, each fund may satisfy a claim for benefits by directly depositing the amount of the benefits payable to the retired member's or the survivor's or beneficiary's account in an…
Ind. Code § 5-10.2-2-15 Repealed
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As added by P.L.55-1993, SEC.1. Amended by P.L.5-1997, SEC.2. Repealed by P.L.1-2002, SEC.172.
Ind. Code § 5-10.2-2-16 Repealed
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As added by P.L.246-2001, SEC.2. Repealed by P.L.23-2011, SEC.31.
Ind. Code § 5-10.2-2-17 Repealed
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As added by P.L.246-2001, SEC.3. Amended by P.L.2-2006, SEC.22. Repealed by P.L.23-2011, SEC.31.
Ind. Code § 5-10.2-2-18 Expired
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As added by P.L.224-2003, SEC.186. Amended by P.L.4-2005, SEC.24. Expired 7-1-2013 by P.L.4-2005, SEC.24.
Ind. Code § 5-10.2-2-19 Repealed
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As added by P.L.107-2010, SEC.1. Repealed by P.L.23-2011, SEC.31.
Ind. Code § 5-10.2-2-2 Separate accounts and subaccounts
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Sec. 2. (a) The board shall maintain the following separate accounts in the public employees' retirement fund: (1) The annuity savings account. (2) The retirement allowance account. (3) A supplemental allowance reserve account for the purpose of paying postretirement benefit adju…
Ind. Code § 5-10.2-2-2.5 Investment guidelines and limits established by boards;
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commingling of assets Sec. 2.5. (a) The board may establish investment guidelines and limits on all types of investments (including, but not limited to, stocks and bonds) and take other actions necessary to fulfill its duty as a fiduciary for all assets under its control, subject…
Ind. Code § 5-10.2-2-20 Withdrawal of miscellaneous participating entity
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Sec. 20. (a) As used in this section: (1) "fund" means the public employees' retirement fund; and (2) "withdrawing participating entity" means a miscellaneous participating entity that takes an action described in subsection (b). (b) Subject to the provisions of this section, a m…
Ind. Code § 5-10.2-2-21 Freeze in participation by miscellaneous participating entity
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Sec. 21. (a) This section applies to a miscellaneous participating entity that takes any of the following actions on or after December 31, 2010: (1) The miscellaneous participating entity determines a date: (A) before which newly hired employees of a departmental, occupational, o…
Ind. Code § 5-10.2-2-22 Retirement plans offered by miscellaneous participating entity
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that withdraws from or freezes participation in public employees' retirement fund Sec. 22. (a) This section applies to a miscellaneous participating entity that: (1) either: (A) withdraws from the public employees' retirement fund under section 20 of this chapter; or (B) freezes …
Ind. Code § 5-10.2-2-23 Election or discretionary action by branch of state government
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Sec. 23. If any provision of this article, IC 5-10.3, or IC 5-10.4 allows the state as an employer to make an election or take discretionary action, the election or discretionary action shall be taken by the following entities, as applicable: (1) The governor, if the election or …
Ind. Code § 5-10.2-2-24 Transition from guaranteed program to stable value fund
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program Sec. 24. (a) After December 31, 2016, a member may not make contributions to the guaranteed program. (b) For those members who as of December 31, 2016, have designated the guaranteed program as the investment program to receive all or part of the contributions to the memb…
Ind. Code § 5-10.2-2-3 Annuity savings account; guaranteed program; stable value
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fund program; alternative investment programs Sec. 3. (a) The annuity savings account consists of: (1) the members' contributions; and (2) the interest credits on these contributions in the guaranteed fund (before January 1, 2017), the gain or loss in the balance of the member's …
Ind. Code § 5-10.2-2-3.3 Crediting interest in annuity savings accounts
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Sec. 3.3. Interest credited prior to July 1, 2005, in the annuity savings account of the public employees' retirement fund to suspended members participating in the guaranteed fund (before its elimination on January 1, 2017) under section 3 of this chapter shall be treated as pro…
Ind. Code § 5-10.2-2-3.5 Repealed
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As added by P.L.217-2017, SEC.55. Amended by P.L.86-2018, SEC.15. Repealed by P.L.212-2018(ss), SEC.13.
Ind. Code § 5-10.2-2-4 Expired
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As added by Acts 1977, P.L.53, SEC.2. Amended by Acts 1977(ss), P.L.1, SEC.1; Acts 1980, P.L.28, SEC.1; P.L.35-1985, SEC.5; P.L.43-1997, SEC.3; P.L.195-1999, SEC.10; P.L.165-2009, SEC.3; P.L.35-2012, SEC.33; P.L.193-2016, SEC.5. Expired 1-1-2017 by P.L.193-2016, SEC.5.
Ind. Code § 5-10.2-2-4.1 Crediting interest and omitted contributions after December
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31, 2016 Sec. 4.1. (a) This section applies only after December 31, 2016. (b) Except as provided in subsection (e), the market value of the stable value fund program shall be allocated at least annually to the members participating in that program. (c) Except as provided in subse…
Ind. Code § 5-10.2-2-5 Repealed
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As added by Acts 1977, P.L.53, SEC.2. Repealed by P.L.55-1989, SEC.67.
Ind. Code § 5-10.2-2-6 Retirement allowance accounts
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Sec. 6. (a) The retirement allowance account of the public employees' retirement fund consists of the retirement fund, exclusive of the annuity savings account and the supplemental allowance reserve account. The retirement allowance account also includes any amounts received unde…
Ind. Code § 5-10.2-2-7 Transfer of accounts
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Sec. 7. (a) When a member retires or dies in service under conditions which entitle a beneficiary or spouse to survivor benefits and if the member or survivor chooses to receive an annuity from the fund, the annuity savings account shall be charged with the amount credited to him…
Ind. Code § 5-10.2-2-8 Payment and computation of benefits for combined creditable
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service Sec. 8. (a) For a member who retires after June 30, 2008, with service in more than one (1) retirement fund, the member may choose at the time the member files an application for retirement benefits whether to retire from the Indiana state teachers' retirement fund or fro…
Ind. Code § 5-10.2-2-9 Actuarial investigation and valuation
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Sec. 9. (a) The funds may employ a common actuary or actuarial service. (b) At least once in every five (5) years and in every year in which this article is amended so that benefits are changed, the actuary shall make a separate actuarial investigation for each fund of the mortal…
Ind. Code § 5-10.3-2-0.3 Legalization of payment of certain benefits
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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.
Ind. Code § 5-10.3-2-0.4 Validation of certain board actions
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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 boa…
Ind. Code § 5-10.3-2-1 Establishment and administration of fund
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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…
Ind. Code § 5-10.3-2-2 Interests in fund
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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.
Ind. Code § 5-10.3-2-3 Legislative intent; public obligations
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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 obli…
Ind. Code § 5-10.4-2-1 Establishment of fund
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Sec. 1. (a) The Indiana state teachers' retirement fund is established to be used to pay benefits to teachers and to supervisors of teachers in the public schools after specified years of service and under other specified circumstances. (b) The board is responsible for the contro…
Ind. Code § 5-10.4-2-2 Accounts
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Sec. 2. (a) The board shall segregate the fund into the following accounts: (1) The pre-1996 account. (2) The 1996 account. (b) The board shall segregate each of the accounts established under subsection (a) into the following subaccounts: (1) The annuity savings account. (2) The…
Ind. Code § 5-10.4-2-2.5 Adjustment of employer compensation rate because of certain
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savings Sec. 2.5. The board shall adjust the employer contribution rate for the Indiana state teachers' retirement fund to take into account any actuarial savings resulting from the amendment to IC 21-6.1-2-2 (before its repeal, now codified at section 2 of this chapter) by P.L.2…
Ind. Code § 5-10.4-2-3 Proration of expenses among accounts
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Sec. 3. (a) The board shall: (1) prorate the expenses of administration of the fund between the retirement allowance accounts; and (2) pay the prorated expenses from those accounts. (b) The board shall pay the expenses for the administration of the system as provided in IC 5-10.5…
Ind. Code § 5-10.4-2-4 Required appropriation
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Sec. 4. (a) The general assembly shall appropriate an amount from the state general fund that is sufficient to cover the state's actuarial liability for each member covered by the pre-1996 account and for each state employee covered by the 1996 account. The board may reduce this …
Ind. Code § 5-10.4-2-5 Pension stabilization fund
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Sec. 5. (a) The pension stabilization fund is established. The pension stabilization fund is a part of the pre-1996 account and shall be administered by the board in accordance with the powers and duties granted to the board by IC 5-10.4-3-10 through IC 5-10.4-3-14, IC 5-10.5-4, …
Ind. Code § 5-10.4-2-5.5 Allocation from pension stabilization fund certain amounts
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Sec. 5.5. The board shall allocate from the pension stabilization fund (IC 21-6.1-2-8, before its repeal, now codified at section 5 of this chapter) to the fund's 1996 account an amount equal to the unfunded liability for individuals who were members of the fund's pre-1996 accoun…
Ind. Code § 5-10.4-2-6 Allocation of interest income
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Sec. 6. The board shall do the following: (1) Credit interest to the members' annuity savings accounts in the guaranteed fund (before January 1, 2017), actual earnings to the stable value fund (after December 31, 2016), and actual earnings to the alternative investment programs. …
Ind. Code § 5-10.5-2-1 System established
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Sec. 1. On July 1, 2011, the Indiana public retirement system is established. As added by P.L.23-2011, SEC.22.
Ind. Code § 5-10.5-2-2 Funds comprising the system
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Sec. 2. The system consists of the following public pension or retirement funds: (1) The public employees' retirement fund established under IC 5-10.2 and IC 5-10.3. (2) The public employees' defined contribution plan established under IC 5-10.3-12. (3) The Indiana state teachers…
Ind. Code § 5-10.5-2-3 Independent body corporate and politic
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Sec. 3. The system is an independent body corporate and politic. The system is not a department or agency of the state but is an independent instrumentality exercising essential government functions. As added by P.L.23-2011, SEC.22.
Ind. Code § 5-10.5-2-4 Board, system, and employees are public employees
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Sec. 4. For purposes of IC 34-13-2, IC 34-13-3, and IC 34-13-4, the board, the system, and all employees of the board or the system are public employees (as defined in IC 34-6-2-38). As added by P.L.23-2011, SEC.22. Amended by P.L.100-2012, SEC.16.
Ind. Code § 5-10.5-2-5 System management and administration
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Sec. 5. The system shall be managed and administered by a board of trustees established under IC 5-10.5-3. As added by P.L.23-2011, SEC.22.
Ind. Code § 5-10.5-2-6 Each fund is separate fund
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Sec. 6. Each public pension or retirement fund listed in section 2 of this chapter is a separate fund managed by the board under this article and the retirement law applicable to the public pension or retirement fund. The obligations of the state and political subdivisions for be…
Ind. Code § 5-26.5-2-1 Eligible applicants
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Sec. 1. The following individuals may apply to the office of the attorney general to have an address designated by the office of the attorney general serve as the individual's address or as the address of a minor or an incapacitated individual: (1) An individual who is at least e…
Ind. Code § 5-26.5-2-10 Repealed
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As added by P.L.273-2001, SEC.3. Amended by P.L.133-2002, SEC.15. Repealed by P.L.149-2020, SEC.15.
Ind. Code § 5-26.5-2-11 Name change; copy of decree to attorney general
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Sec. 11. A program participant who obtains a change of name under IC 34-28-2 shall provide a copy of the decree of the court changing the program participant's name to the office of the attorney general not more than thirty (30) days after the court enters the decree. As added by…
Ind. Code § 5-26.5-2-2 Approval of applications
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Sec. 2. The office of the attorney general shall approve an application filed in the manner and on a form prescribed by the office of the attorney general if the application contains the following: (1) A sworn statement by the applicant that the applicant has good reason to belie…
Ind. Code § 5-26.5-2-3 Certification of participants; confidentiality
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Sec. 3. (a) Upon approving an application under section 2 of this chapter, the office of the attorney general shall certify the applicant as a program participant. (b) Subject to IC 5-26.5-3-2, IC 5-26.5-5-2.5, IC 5-26.5-5-2.6, and IC 5-26.5-5-6, the name, address, telephone numb…
Ind. Code § 5-26.5-2-4 Use of work address
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Sec. 4. A program participant may use an address designated by the office of the attorney general as the program participant's work address. As added by P.L.273-2001, SEC.3.
Ind. Code § 5-26.5-2-5 Manner of application to vote; recording residence address in
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computerized system; confidentiality of application information; voting by participant Sec. 5. (a) The definitions set forth in IC 3-5-2 apply to this section. (b) A program participant who is otherwise qualified to vote may apply to vote as provided in IC 3-7. The residence addr…
Ind. Code § 5-26.5-2-6 Expiration of certification; renewal
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Sec. 6. Certification as a program participant expires June 30 of the fourth year after the date on which the office of the attorney general certifies or renews the certification of the applicant as a program participant. A program participant may apply to renew the certification…