Title 5, STATE AND LOCAL ADMINISTRATION

Sec. 6.2. (a) This section applies to a member of the Indiana state teachers' retirement fund. (b) A member who: (1) has attained vested status in the fund; (2) has terminated employment; (3) has not begun receiving benefits; and (4) is transferring creditable service earned unde…

Sec. 6.3. (a) Notwithstanding any other provision in this article, IC 5-10.3, or IC 5-10.4, a member who: (1) has not attained vested status in the fund; (2) is not an active participant in the fund; and (3) is an active participant in a retirement plan established under IC 36-8-…

Sec. 6.5. (a) After December 31, 2020, a member who meets all of the following requirements may elect to withdraw all or part of the amount in the member's annuity savings account: (1) The member has terminated employment with the applicable fund and is not currently employed in …

Sec. 7.5. (a) This subsection applies to members who die after March 31, 1990, and before January 1, 2007. A surviving dependent or surviving spouse of a member who dies in service is entitled to a survivor benefit if: (1) the member has: (A) at least ten (10) years of creditable…

Sec. 7.6. (a) This section applies to the surviving spouse and the surviving dependent of a member who: (1) dies after June 30, 1996, and before July 1, 2018; (2) has at least thirty (30) years of creditable service; and (3) dies in service in a position covered by the fund. (b) …

Sec. 8. (a) If a member dies: (1) after March 31, 1990, and before July 1, 2018; (2) while not in service in a position covered by the retirement fund; and (3) while eligible to receive retirement or disability benefits under IC 5-10.2-4-6, but before applying for those benefits;…

Sec. 9. (a) This section applies if the following conditions are met. A member dies: (1) after July 1, 1991; and (2) while receiving or while eligible to receive retirement benefits under IC 5-10.2-4-1 from the fund. (b) As used in this section, "minimum amount" means the entire …

Sec. 10. The actuary shall perform the duties specified in this article and in IC 5-10.2 and all other duties assigned by the board. As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.23-2011, SEC.16.

Sec. 7.1. The board shall annually analyze for internal control purposes the fund's; (1) income and expenditures; (2) actuarial condition; (3) reserve accounts; (4) investments; and (5) such other data as necessary to interpret the fund's condition and the board's administration …

Sec. 10. (a) The board shall invest its assets with the care, skill, prudence, and diligence that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims. The board also shall diversify…

Sec. 10.5. (a) Not later than July 1, 2027, the board shall offer, as a regular investment program within the annuity savings accounts described in IC 5-10.4-2-2, a self directed brokerage account that offers at least one (1) cryptocurrency investment option. (b) The board may ad…

Sec. 11. The board's transactions under section 10 of this chapter are subject to IC 5-10.2-2-1.5. [Pre-2006 Education Finance Recodification Citation: 21-6.1-3-9.1.] As added by P.L.2-2006, SEC.28.

Sec. 12. Each security may be held in bearer form or registered in the name of: (1) the fund; (2) a nominee created by the board; or (3) a nominee of a custodian bank or safekeeping bank, approved by the board. [Pre-2006 Education Finance Recodification Citation: 21-6.1-3-11.] As…

Sec. 13. (a) The board may enter into a custodial agreement on terms the board considers in the best interest of the fund with a bank or trust company that is domiciled in the United States and approved by the board to: (1) act in a fiduciary capacity; and (2) manage custodial ac…

Sec. 14. All income and other receipts from securities may be: (1) collected by the custodian bank or safekeeping bank approved for that purpose by the board and deposited in the custodial account or a checking account of the board; (2) reinvested from the custodial account or ch…

Sec. 15. (a) Except as otherwise provided, a trustee or employee of the board may not have any direct interest in the income of an investment made by the board or may not receive any pay or emolument for services connected with any investment made by the board. (b) The board may …

Sec. 16. A person who recklessly violates section 10, 12, 14, or 15 of this chapter is subject to IC 35-44.2-2-4. [Pre-2006 Education Finance Recodification Citation: 21-6.1-3-19.] As added by P.L.2-2006, SEC.28. Amended by P.L.126-2012, SEC.16; P.L.32-2019, SEC.7.

Sec. 7. The board shall annually analyze the fund's: (1) income and expenditures; (2) actuarial condition; (3) reserve accounts; (4) investments; and (5) such other data as necessary to interpret the fund's condition and the board's administration of the fund; for internal contro…

Sec. 9. (a) The board is responsible for the fund's property. The board may take and hold any property given outright or on condition to the fund and shall perform the conditions accepted. Unless restricted by a condition, the board may transfer the property when necessary for th…

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 …

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 a…

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 administrati…

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) …

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 …

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, S…

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 …

Sec. 1. The office of the attorney general may adopt rules to implement this article. As added by P.L.273-2001, SEC.3.

Sec. 2. (a) The office of the attorney general may not disclose for public inspection or copying the name, address, telephone number, or any other identifying information relating to a program participant that is declared confidential under IC 5-26.5-2-3(b), as contained in a rec…

Sec. 3. The office of the attorney general shall forward first class mail belonging to a program participant to the program participant. As added by P.L.273-2001, SEC.3.

Sec. 4. The office of the attorney general shall designate: (1) state and local agencies; and (2) nonprofit agencies; that provide counseling and shelter services to victims of domestic violence to assist persons in applying to be program participants. As added by P.L.273-2001, S…

Sec. 5. Assistance and counseling provided by the office of the attorney general or its designees to applicants under this article may not be construed as legal advice. As added by P.L.273-2001, SEC.3.

Sec. 6. (a) The office of the attorney general may accept grants and donations made to the office for the purposes of this article. (b) The address confidentiality fund is established as a dedicated fund to be administered by the office of the attorney general. The fund consists …

Sec. 7. The office of the attorney general and an agent or employee of the office of the attorney general are immune from civil liability for damages for conduct within the scope and arising out of the performance of the duties imposed under this article. As added by P.L.133-2002…

Sec. 8. The department of administration shall provide a physical address for the program to use for program participants when a physical address is required by law. As added by P.L.149-2020, SEC.17.

Sec. 1. The state or a state agency may enter into a cooperative agreement with a federally recognized Indian tribe. As added by P.L.108-2019, SEC.100.

Sec. 2. A cooperative agreement entered into under this chapter must be in writing and must provide for the following: (1) The duration of the agreement. (2) The purpose of the agreement. (3) The administration of the agreement. (4) The manner of carrying out the joint undertakin…

Sec. 3. If a cooperative agreement entered into under this chapter concerns the provision of services or facilities that a state officer or state agency has power to control, the agreement must be submitted to that officer or agency for approval before it takes effect. As added b…

Sec. 4. A cooperative agreement entered into under this chapter must be filed with the state board of accounts for audit purposes not later than sixty (60) days after the agreement takes effect. As added by P.L.108-2019, SEC.100.

Sec. 5. A cooperative agreement entered into under this chapter may provide for the following: (1) An effective waiver of sovereign immunity from the federally recognized Indian tribe. (2) Subject to section 6 of this chapter, a waiver of sovereign immunity by the state. (3) A st…

Sec. 6. A provision of a cooperative agreement with a federally recognized Indian tribe waiving the sovereign immunity of the state must be submitted to the attorney general for review. A cooperative agreement containing a provision subject to review under this section may not ta…

Sec. 7. (a) For purposes of this chapter only, the state may waive its immunity from suit in federal court under the Eleventh Amendment to the Constitution of the United States only if both of the following conditions are met: (1) The agreement in dispute was entered into under t…

Sec. 1. This chapter applies to a state fiscal year that begins on or after July 1, 2025. As added by P.L.182-2025, SEC.6.

Sec. 2. Unless otherwise provided by law, any funds appropriated by the general assembly to a state agency for an expense related to a contract that remain unused ninety (90) days after the end of the term of the contract: (1) must be unallotted by the budget agency and no longer…