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Indiana Statutes, Title 5

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Indiana/Statutes

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Title 5, STATE AND LOCAL ADMINISTRATION

393 chapters · 3,941 sections in this title.

All chapters in Title 53,941 Ch 2, Nonreverting Appropriations379 Ch 1, Bonds and Other Obligations Legalized367 Ch 4, Hospital Bonding Authorities295 Ch 5, Refunding Bonds Generally272 Ch 9, Refunding Bonds of Cities and Towns201 Ch 6, Revenue Bond Refinancing199 Ch 3, Facsimile Signatures on Obligations198 Ch 8, Judgment Funding Bonds of Counties176 Ch 7, Redemption Bonds of Counties and Tow…142 Ch 10, Funding and Refunding Bonds of Townships134 Ch 13, Disposition of Surplus Bond Proceeds100 Ch 11, Procedures for Selling Bonds91 Ch 12, Payment of Bond Premiums90 Ch 15, Fully Registered and Book Entry Obli…89

272 sections·Filtered byTitle 5✕Ch 5✕

Ind. Code § 5-10.2-5-15 Cost of living increases in pension payable after June 30, 1986
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Sec. 15. (a) The pension portion (plus postretirement increases to the pension portion), provided by employer contributions, of the monthly benefit payable after June 30, 1986, to a member, or a survivor or beneficiary of a member, who retired or was disabled: (1) before July 2, …
Ind. Code § 5-10.2-5-16 Pension increases payable after June 30, 1987
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Sec. 16. (a) Subject to subsection (d), the pension portion (plus postretirement increases to the pension portion), provided by employer contributions, of the monthly benefit payable after June 30, 1987, to a member, or a survivor or beneficiary of a member, who retired or was di…
Ind. Code § 5-10.2-5-17 Increases after June 30, 1988
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Sec. 17. (a) The pension portion (plus postretirement increases to the pension portion), provided by employer contributions, of the monthly benefit payable after June 30, 1988, to a member, or a survivor or beneficiary of a member, who retired or was disabled: (1) before July 2, …
Ind. Code § 5-10.2-5-19 Increases after June 30, 1989

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Sec. 19. (a) The pension portion (plus postretirement increases to the pension portion), provided by employer contributions, of the monthly benefit payable after June 30, 1989, to a member, or a survivor or beneficiary of a member, who retired or was disabled before July 2, 1987,…

Ind. Code § 5-10.2-5-2 Members retired pre-1956

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Sec. 2. Members Retired Pre-1956. The retirement benefits of members who retired before January 1, 1956, shall be computed by multiplying fifteen dollars ($15.00) times years of service and then adjusting the product obtained for early retirement and the selected retirement optio…

Ind. Code § 5-10.2-5-20 Employees of institutions of higher learning

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Sec. 20. (a) Notwithstanding the repeal of IC 5-10.2-2-5, a member who: (1) is an employee of a state educational institution; and (2) began making contributions by payroll deduction under IC 5-10.2-2-5 before January 1, 1989; may continue to make contributions after June 30, 198…

Ind. Code § 5-10.2-5-21 Pension increases payable after June 30, 1990

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Sec. 21. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1990, to a member or a survivor or beneficiary of a member who retired or was disabled: (1) before July 2, 1971…

Ind. Code § 5-10.2-5-22 Increases after June 30, 1994

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Sec. 22. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1994, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund or a …

Ind. Code § 5-10.2-5-23 Pension increases payable after June 30, 1995

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Sec. 23. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1995, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund or a …

Ind. Code § 5-10.2-5-24 Pension increases payable after June 30, 1996

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Sec. 24. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1996, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund or a …

Ind. Code § 5-10.2-5-25 Increases after June 30, 1997

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Sec. 25. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1997, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund or a …

Ind. Code § 5-10.2-5-26 Pension increases payable after June 30, 1998

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Sec. 26. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1998, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund or a …

Ind. Code § 5-10.2-5-27 Pension increases payable after June 30, 1999

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Sec. 27. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1999, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund (or t…

Ind. Code § 5-10.2-5-28 Pension increases payable after June 30, 2000

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Sec. 28. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 2000, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund (or t…

Ind. Code § 5-10.2-5-29 Minimum purchasing power of pension portion after June 30, 1999

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Sec. 29. (a) In addition to any other cost of living provided under this chapter, the pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 1999, to a member of the public employees'…

Ind. Code § 5-10.2-5-3 Surviving spouse, 1956-1959

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Sec. 3. Surviving Spouse, 1956-1959. The surviving spouse of a member who accumulated twenty (20) years of service in his retirement fund and who died between January 1, 1956, and April 1, 1959, is entitled to the annuity survivor benefits in effect on April 1, 1959. As added by …

Ind. Code § 5-10.2-5-30 Minimum purchasing power of pension portion after June 30, 2000

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Sec. 30. (a) In addition to any other cost of living provided under this chapter, the pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 2000, to a member of the public employees'…

Ind. Code § 5-10.2-5-31 Pension increases payable after June 30, 2001

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Sec. 31. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after June 30, 2001, to a member of the public employees' retirement fund or the Indiana state teachers' retirement fund (or t…

Ind. Code § 5-10.2-5-33 Public employees' retirement fund; pension increases payable after December 31, 2003

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Sec. 33. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2003, to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member of …

Ind. Code § 5-10.2-5-36 Public employees' retirement fund; pension increase payable after December 31, 2004

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Sec. 36. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2004, to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member) wh…

Ind. Code § 5-10.2-5-38 Public employees' retirement fund; benefit increase payable after December 31, 2005

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Sec. 38. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2005, to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member of …

Ind. Code § 5-10.2-5-39 Teachers' retirement fund; benefit increase payable after December 31, 2005

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Sec. 39. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2005, to a member of the Indiana state teachers' retirement fund (or to a survivor or beneficiary of a memb…

Ind. Code § 5-10.2-5-4 Cost of living increases

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Sec. 4. Cost of Living Increases. As a cost of living increase, the retirement, disability, and survivor benefit payable on and after July 1, 1976, to a member, or beneficiary or survivor of a member, who retired before July 2, 1975, shall be increased by three percent (3%). Howe…

Ind. Code § 5-10.2-5-40 Public employees' retirement fund; benefit increase payable after December 31, 2006

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Sec. 40. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2006, to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member of …

Ind. Code § 5-10.2-5-41 Teachers' retirement fund; benefit increase payable after December 31, 2006

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Sec. 41. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2006, to a member of the Indiana state teachers' retirement fund (or to a survivor or beneficiary of a memb…

Ind. Code § 5-10.2-5-42 Teachers' retirement fund; cost of living increase payable after December 31, 2007

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Sec. 42. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2007, to a member of the Indiana state teachers' retirement fund (or to a survivor or beneficiary of a memb…

Ind. Code § 5-10.2-5-42.4 Public employees' retirement fund; increase payable after December 31, 2007

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Sec. 42.4. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2007, to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member o…

Ind. Code § 5-10.2-5-43 Public employees' retirement fund; benefit increase payable after December 31, 2008

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Sec. 43. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2008, to a member of the public employees' retirement fund (or to a survivor or beneficiary of a member of …

Ind. Code § 5-10.2-5-43.4 Teachers' retirement fund; benefit increase payable after December 31, 2008

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Sec. 43.4. (a) The pension portion (plus postretirement increases to the pension portion) provided by employer contributions of the monthly benefit payable after December 31, 2008, to a member of the Indiana state teachers' retirement fund (or to a survivor or beneficiary of a me…

Ind. Code § 5-10.2-5-5 Special benefit; $200 minimum

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Sec. 5. Special Benefit: $200 Minimum. (a) On and after July 1, 1976, a retired member is entitled to a supplemental retirement benefit to be paid by the fund as long as he meets each of these conditions: (1) he currently receives an annuity or pension or other retirement benefit…

Ind. Code § 5-10.2-5-6 Post-retirement cost of living increase payable on or after July 1, 1977

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Sec. 6. (a) The monthly benefit (B) payable on and after July 1, 1977, to a member, or a survivor or beneficiary of a member, who retired or was disabled before July 2, 1972, shall be increased by an amount equal to the benefit payable (J) in June 1977 times one-half percent (1/2…

Ind. Code § 5-10.2-5-7 Postretirement increase payable on or after July 1, 1979

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Sec. 7. Postretirement Increase. (a) The monthly benefit payable on and after July 1, 1979, to a member, or a survivor or beneficiary of a member, who retired or was disabled: (1) before July 2, 1962, shall be increased by six percent (6%); (2) after July 1, 1962, and before July…

Ind. Code § 5-10.2-5-8 Postretirement increase payable on and after July 1, 1980

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Sec. 8. Postretirement Increase. The monthly benefit payable on and after July 1, 1980, to a member, or a survivor or beneficiary of a member, who retired or was disabled: (1) before July 2, 1963, shall be increased by nine percent (9%); (2) after July 1, 1963, and before July 2,…

Ind. Code § 5-10.2-5-9 1980 cost of living adjustment

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Sec. 9. 1980 Cost of Living Adjustment. As a cost of living increase, the retirement, disability, and survivor benefits payable after June 30, 1980, to a member, or a beneficiary or a survivor of a member, who retired before August 1, 1979, shall be increased four percent (4%). T…

Ind. Code § 5-10.3-5-1 Accounts in fund

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Sec. 1. Accounts in the Fund. The fund consists of separate annuity savings and retirement allowance accounts established and administered as specified in IC 5-10.2-2. As added by Acts 1977, P.L.53, SEC.3.

Ind. Code § 5-10.3-5-2 Employer contributions; federal money

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Sec. 2. Employer Contributions; Federal Moneys. (a) The state shall make contributions to the retirement allowance account as specified in IC 5-10.2-2. Participating political subdivisions shall make contributions as specified in chapter 6 of this article. (b) If members receive …

Ind. Code § 5-10.3-5-3 Investments of assets; management agreements; board exemptions on sale of surplus personal property or state property

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Sec. 3. (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 shall also diversify …

Ind. Code § 5-10.3-5-3.1 Board transactions subject to qualification requirements of Internal Revenue Code

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Sec. 3.1. The board's transactions under section 3 of this chapter are subject to IC 5-10.2-2-1.5. As added by P.L.55-1989, SEC.22.

Ind. Code § 5-10.3-5-3.5 Self-directed brokerage account offering cryptocurrency investment option within the annuity savings accounts

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Sec. 3.5. (a) Not later than July 1, 2027, the board shall offer, as a regular investment program within the annuity savings accounts described in IC 5-10.2-2-2(a), a self directed brokerage account that offers at least one (1) cryptocurrency investment option. (b) The board may …

Ind. Code § 5-10.3-5-4 Investments

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Sec. 4. (a) Securities shall be held for the fund by banks or trust companies under a custodial agreement. Income, interest, proceeds of sale, materials, redemptions, and all other receipts from securities and other investments which the board retains for the cash working balance…

Ind. Code § 5-10.3-5-5 Custodians

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Sec. 5. (a) The custodians must be banks or trust companies that are domiciled in the United States and approved by the board to: (1) act in a fiduciary capacity; and (2) manage custodial accounts; on behalf of the fund. (b) The board is authorized to accept safekeeping receipts …

Ind. Code § 5-10.3-5-6 Termination of agreements

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Sec. 6. Termination of Agreements and Contracts. The board may terminate contracts and custodial agreements with investment counsel, trust companies and banks and may recover securities and moneys held under the custodial agreements whenever the board considers these actions nece…

Ind. Code § 5-10.3-5-7 Actuarial reports; status of reserve account; charges against difference between reserves in account and accrued liability

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Sec. 7. (a) After each fiscal year, the actuary shall report the status of the reserve account for persons receiving benefits from the fund. The report must contain a statement of the reserves in the account and the accrued liability for these persons. (b) Taking into considerati…

Ind. Code § 5-10.4-5-0.2 Application of certain amendments to chapter

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Sec. 0.2. The amendments made to IC 21-6.1-5-9 (before its repeal, now codified at section 9 of this chapter) by P.L.190-2003 apply to retirement benefits payable by the Indiana state teachers' retirement fund after June 30, 2003. As added by P.L.220-2011, SEC.90.

Ind. Code § 5-10.4-5-0.3 Validation of certain actions taken by public schools

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Sec. 0.3. Actions taken by the public schools after December 31, 1986, and before March 5, 1988, that would have been valid under IC 21-6.1-5-6 (before its repeal), as amended by P.L.46-1988, are validated. As added by P.L.220-2011, SEC.91.

Ind. Code § 5-10.4-5-1 Disability benefit

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Sec. 1. (a) A member who becomes disabled after June 30, 1984, may receive a benefit under this section and sections 2 through 4 of this chapter. If the member qualifies for disability retirement under IC 5-10.2-4-6, the member may choose to receive a benefit under IC 5-10.2-4-6 …

Ind. Code § 5-10.4-5-10 Cancellation of uncashed benefit check

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Sec. 10. (a) If a benefit check issued by the fund is outstanding and unpaid for more than six (6) months after the date the check is issued, the benefit check is canceled. (b) A benefit check canceled under subsection (a) may not be honored, cashed, or accepted for payment or de…

Ind. Code § 5-10.4-5-11 Payment options

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Sec. 11. A member may have the member's retirement benefits paid under the options specified in IC 5-10.2-4-7. [Pre-2006 Education Finance Recodification Citation: 21-6.1-5-13.] As added by P.L.2-2006, SEC.28.

Ind. Code § 5-10.4-5-12 Death before retirement; payment of benefits

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Sec. 12. If a member dies before retirement, the member's benefits are paid as specified in IC 5-10.2-3-7.5, IC 5-10.2-3-7.6, and IC 5-10.2-3-8. [Pre-2006 Education Finance Recodification Citation: 21-6.1-5-14.] As added by P.L.2-2006, SEC.28.

Ind. Code § 5-10.4-5-13 Calculation of benefit; teaching after initial retirement

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Sec. 13. IC 5-10.2-4-8 applies to the reemployment of a retired member. [Pre-2006 Education Finance Recodification Citation: 21-6.1-5-16.] As added by P.L.2-2006, SEC.28. Amended by P.L.72-2007, SEC.9; P.L.76-2008, SEC.6; P.L.115-2009, SEC.18.