2013 Indiana Code
TITLE 5. STATE AND LOCAL ADMINISTRATION
ARTICLE 10.3. THE PUBLIC EMPLOYEES' RETIREMENT FUND
CHAPTER 11. PENSION RELIEF FUND
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IC 5-10.3-11
Chapter 11. Pension Relief Fund
IC 5-10.3-11-0.3
Repealed
(Repealed by P.L.6-2012, SEC.29.)
IC 5-10.3-11-1
Creation; administration; revenues
Sec. 1. There is created within the public employees' retirement
fund a separate account known as the pension relief fund. This fund
is administered by the board of trustees of the Indiana public
retirement system, referred to as the "state board" in this chapter. The
pension relief fund consists of revenues received under
IC 6-7-1-28.1(4), IC 7.1-4-12-1, any appropriations to the fund, and
earnings on these revenues.
As added by Acts 1980, P.L.8, SEC.45. Amended by P.L.26-1996,
SEC.3; P.L.23-2011, SEC.20.
IC 5-10.3-11-2
Powers and duties of state board
Sec. 2. The state board shall:
(1) make payments from the pension relief fund;
(2) administer the pension relief fund in accordance with the
powers and duties granted it in IC 5-10.3-5-3 through
IC 5-10.3-5-6, IC 5-10.5-4, and IC 5-10.5-6; and
(3) provide by rule and regulation for the implementation of this
chapter.
As added by Acts 1980, P.L.8, SEC.45. Amended by P.L.35-2012,
SEC.83.
IC 5-10.3-11-3
Payments to units of local government; restriction
Sec. 3. The pension relief fund may be used only for making
payments to cities, counties, towns, and townships, referred to as
"units of local government" in this chapter, having pension funds
established under IC 18-1-12, IC 19-1-18, IC 19-1-24, IC 19-1-25-4,
IC 19-1-30, IC 19-1-37, or IC 19-1-44 (all before their repeal).
Payments received by the units may be used only for:
(1) pension payments from a pension fund listed in this section;
or
(2) withdrawals under section 6 of this chapter.
As added by Acts 1980, P.L.8, SEC.45. Amended by
P.L.182-2009(ss), SEC.74.
IC 5-10.3-11-4
Certification of information to state board; determination of total
pension payments
Sec. 4. (a) Monies from the pension relief fund shall be paid
annually by the state board under the procedures specified in this
section.
(b) Each year, before a date set by the state board, each unit of
local government must certify to the state board:
(1) the amount of payments made during the preceding year for
benefits under its pension funds covered by this chapter,
referred to in this section as "pension payments";
(2) the data determined necessary by the state board to perform
an actuarial valuation of the unit's pension funds covered by this
chapter;
(3) the names required to prepare the list specified in subsection
(c); and
(4) any other information that is necessary for the state board to
make distributions to units under this chapter.
A unit is ineligible to receive a distribution under this section if it
does not supply the complete information required by this subsection
or a substantial amount of the information required if it is
accompanied by an affidavit of the chief executive officer of the unit
detailing the steps which have been taken to obtain the information
and the reasons the complete information has not been obtained. The
reporting requirement of this subsection is in addition to the
reporting requirement of IC 5-11-20.
(c) Each year, before a date set by the state board, the state board
shall prepare a list of all police officers and firefighters, active,
retired, and deceased if their beneficiaries are eligible for benefits,
who are members of a police or fire pension fund that was
established before May 1, 1977. The list may not include police
officers, firefighters, or their beneficiaries for whom no future
benefits will be paid. The state board shall then compute the present
value of the accrued liability to provide the pension and other
benefits to each person on the list.
(d) Each year, before a date set by the state board, the state board
shall determine the total pension payments made by all units of local
government for the preceding year and shall estimate the total
pension payments to be made to all units in the calendar year in
which the July 1 occurs and in the following calendar year.
As added by Acts 1980, P.L.8, SEC.45. Amended by Acts 1982,
P.L.39, SEC.1; P.L.25-1994, SEC.8; P.L.26-1996, SEC.4;
P.L.38-2001, SEC.1; P.L.146-2008, SEC.35; P.L.47-2013, SEC.2.
IC 5-10.3-11-4.5
Repealed
(Repealed by P.L.146-2008, SEC.814.)
IC 5-10.3-11-4.7
Distributions to units of local government
Sec. 4.7. (a) In 2009 and each year thereafter, the state board shall
distribute from the pension relief fund to each unit of local
government the total amount of pension, disability, and survivor
benefit payments from the 1925 police pension fund (IC 36-8-6), the
1937 firefighters' pension fund (IC 36-8-7), and the 1953 police
pension fund (IC 36-8-7.5) to be made by the unit in the calendar
year, as estimated by the state board under section 4 of this chapter.
(b) The state board shall make the distributions under subsection
(a) in two (2) equal installments before July 1 and before October 2
of each year.
As added by P.L.38-2001, SEC.2. Amended by P.L.28-2006, SEC.1;
P.L.234-2007, SEC.277; P.L.146-2008, SEC.36; P.L.115-2010,
SEC.4.
IC 5-10.3-11-5
Annual report
Sec. 5. At least annually the state board shall report in writing to
each affected unit of local government the following information:
(1) The projected pension payments for the next twenty (20)
years.
(2) The present value of the total future projected pension
payments.
As added by Acts 1980, P.L.8, SEC.45. Amended by P.L.47-1985,
SEC.7; P.L.26-1996, SEC.5.
IC 5-10.3-11-6
Separate accounts
Sec. 6. (a) The state board shall maintain separate accounts for
each unit of local government for purposes of this section. The
accounts are separate and distinct accounts within the public
employees' retirement fund and the pension relief fund.
(b) A unit of local government may do the following:
(1) Make deposits at any time to the separate account
established for the unit under this section.
(2) Withdraw once each year from the unit's separate account
all or a part of the balance in the account to pay pension
benefits under IC 36-8-6, IC 36-8-7, or IC 36-8-7.5.
(3) Direct the state board at any time to pay from the unit's
separate account all or a part of either or both of the following:
(A) The unit's employer contributions under IC 36-8-8-6.
(B) The contributions paid by the unit for a member under
IC 36-8-8-8(a).
As added by P.L.38-2001, SEC.3. Amended by P.L.146-2008,
SEC.37; P.L.182-2009(ss), SEC.75.
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