2012 Indiana Code
TITLE 5. STATE AND LOCAL ADMINISTRATION
ARTICLE 10.5. INDIANA PUBLIC PENSION MODERNIZATION ACT
CHAPTER 7. SHORT TITLE AND SAVING PROVISIONS

IC 5-10.5-7
Chapter 7. Short Title and Saving Provisions

IC 5-10.5-7-1
Short title
Sec. 1. This article shall be known as and may be cited as the Indiana public pension modernization act.
As added by P.L.23-2011, SEC.22.

IC 5-10.5-7-2
Transfer or assumption of tangible and intangible property; transfer of powers and duties
Sec. 2. (a) All powers, duties, liabilities, property, equipment, records, rights, and contracts of the:
(1) board of trustees of the public employees' retirement fund; and
(2) board of trustees of the teachers' retirement fund;
are transferred to or assumed by the board on July 1, 2011.
(b) The board shall provide indemnification of:
(1) the board of trustees of the public employees' retirement fund; and
(2) the board of trustees of the teachers' retirement fund;
as necessary or appropriate in regard to any liabilities of the public employees' retirement fund or the teachers' retirement fund assumed by the board.
As added by P.L.23-2011, SEC.22.

IC 5-10.5-7-3
Transfer of fund and account balances
Sec. 3. Any amounts transferred under this subsection to the system that represent balances in any fund or account of the public employees' retirement fund or the teachers' retirement fund for the administration of the public pension and retirement funds administered by the public employees' retirement fund or the teachers' retirement fund before July 1, 2011, including any related services, shall be:
(1) deposited in a fund or account designed by the board; and
(2) used by the system for the administration of the public pension and retirement funds of the system and related services.
As added by P.L.23-2011, SEC.22.

IC 5-10.5-7-4
Transfer of employees
Sec. 4. The employees of the:
(1) public employees' retirement fund; and
(2) teachers' retirement fund;
become employees of the system on July 1, 2011, without change in compensation, seniority, or benefits. An employee of the public employees' retirement fund who is a member of the public employees' retirement fund before July 1, 2011, and becomes an

employee of the system after June 30, 2011, remains a member of the public employees' retirement fund after June 30, 2011. An employee of the teachers' retirement fund who is a member of the teachers' retirement fund before July 1, 2011, and becomes an employee of the system after June 30, 2011, remains a member of the teachers' retirement fund after June 30, 2011. An employee who becomes an employee of the system after June 30, 2011, is a member of the public employees' retirement fund, unless the director expressly determines otherwise.
As added by P.L.23-2011, SEC.22.

IC 5-10.5-7-5
Rules and regulations
Sec. 5. Rules and regulations of:
(1) the public employees' retirement fund; and
(2) the teachers' retirement fund;
in effect before July 1, 2011, are considered, after June 30, 2011, rules and regulations of the system.
As added by P.L.23-2011, SEC.22.

IC 5-10.5-7-6
References and cross-references
Sec. 6. (a) Any reference or cross-reference to:
(1) the board of trustees of the public employees' retirement fund; or
(2) the board of trustees of the teachers' retirement fund;
in the Indiana Code shall be treated after June 30, 2011, as a reference or cross-reference to the board.
(b) Any reference or cross-reference to:
(1) the director of the public employees' retirement fund; or
(2) the director of the teachers' retirement fund;
in the Indiana Code shall be treated after June 30, 2011, as a reference or cross-reference to the director.
As added by P.L.23-2011, SEC.22.

IC 5-10.5-7-7
Conflicts
Sec. 7. If any provision in this article conflicts with a provision in IC 5-10.2, IC 5-10.3, or IC 5-10.4, the provisions shall be read together to the extent possible with any conflict resolved in favor of the provision in this article.
As added by P.L.23-2011, SEC.22.