2016 Indiana Code
TITLE 33. COURTS AND COURT OFFICERS
ARTICLE 39. PROSECUTING ATTORNEYS
CHAPTER 7. RETIREMENT FUND
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IC 33-39-7
Chapter 7. Retirement Fund
IC 33-39-7-0.1
Applicability of P.L.33-2006 amendments
Sec. 0.1. The amendments made to sections 15, 16, and 19 of this
chapter by P.L.33-2006 apply to a participant in the fund who:
(1) is serving on July 1, 2006; or
(2) serves after July 1, 2006;
in a position described in section 8 of this chapter.
As added by P.L.13-2011, SEC.11; P.L.220-2011, SEC.543.
Amended by P.L.160-2013, SEC.1.
IC 33-39-7-1
Application of chapter
Sec. 1. This chapter applies only to:
(1) an individual who serves as a prosecuting attorney or chief
deputy prosecuting attorney on or after January 1, 1990; and
(2) a participant employed in a position described in section
8(a)(2) or 8(a)(3) of this chapter who serves in the position after
June 30, 1995.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-2
Americans with Disabilities Act
Sec. 2. As used in this chapter, "Americans with Disabilities Act"
refers to the Americans with Disabilities Act (42 U.S.C. 12101 et
seq.) and any amendments and regulations related to the Act.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-3
"Board"
Sec. 3. As used in this chapter, "board" refers to the board of
trustees of the Indiana public retirement system established by
IC 5-10.5-3-1.
As added by P.L.98-2004, SEC.18. Amended by P.L.23-2011,
SEC.26.
IC 33-39-7-4
"Fiscal year"
Sec. 4. As used in this chapter, "fiscal year" means the period
beginning on July 1 in any year and ending on June 30 of the
following year.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-5
Fund
Sec. 5. As used in this chapter, "fund" refers to the prosecuting
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attorneys retirement fund established by this chapter.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-6
"Participant"
Sec. 6. As used in this chapter, "participant" means a person
serving in a position described in section 8 of this chapter who is
participating in the fund.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-7
"Salary"
Sec. 7. As used in this chapter, "salary" means the salary paid to
a participant by the state, determined without regard to any salary
reduction agreement established under Section 125 of the Internal
Revenue Code. The term does not include an amount paid to a
participant by a county or counties.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-8
"Services"
Sec. 8. (a) As used in this chapter, "services" means the sum of all
periods in which a person is employed as:
(1) a prosecuting attorney or chief deputy prosecuting attorney;
(2) any other deputy prosecuting attorney who is:
(A) appointed under IC 33-39-6-2; and
(B) paid by the state from the state general fund; or
(3) the executive director or the assistant executive director of
the prosecuting attorneys council of Indiana.
If an individual is elected or appointed to a position described in
subdivisions (1) through (3) and serves one (1) or more terms or part
of a term, then retires from office or otherwise separates from
service, but at a later period or periods is appointed or elected and
serves in a position described in subdivisions (1) through (3), the
individual shall pay into the fund during all the periods that the
individual serves in that position, except as otherwise provided in
this chapter, whether the periods are connected or disconnected.
(b) A senior prosecuting attorney appointed under IC 33-39-10-1
is not required to pay into the fund during any period of service as a
senior prosecuting attorney.
As added by P.L.98-2004, SEC.18. Amended by P.L.160-2013,
SEC.2; P.L.57-2014, SEC.7.
IC 33-39-7-9
Establishment of fund; contents
Sec. 9. The prosecuting attorneys retirement fund is established.
The fund consists of the following:
(1) Each participant's contributions to the fund.
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(2) All gifts, grants, devises, and bequests in money, property,
or other form made to the fund.
(3) All interest on investments or on deposits of the funds.
(4) A contribution or payment to the fund made in a manner
provided by the general assembly.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-10
Fund construed as trust; purpose
Sec. 10. The fund shall be construed to be a trust, separate and
distinct from all other entities, maintained to:
(1) secure payment of benefits to the participants and their
beneficiaries; and
(2) pay the costs of administering this chapter.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-11
Administration; commingling; duties of board; appeals;
confidentiality of fund records
Sec. 11. (a) The board shall administer the fund, which may be
commingled with any public pension and retirement fund
administered by the Indiana public retirement system for investment
purposes.
(b) The board shall do the following:
(1) Determine eligibility for and make payments of benefits
under this chapter.
(2) In accordance with the powers and duties granted the board
in IC 5-10.3-3-7.1, IC 5-10.3-5-3 through IC 5-10.3-5-6,
IC 5-10.5-4, and IC 5-10.5-6, administer the fund.
(3) Provide by rule for the implementation of this chapter.
(4) Authorize deposits.
(c) A determination by the board may be appealed under
IC 4-21.5.
(d) The powers and duties of:
(1) the director and the actuary of the board; and
(2) the attorney general;
with respect to the fund are those specified in IC 5-10.3-3,
IC 5-10.3-4, IC 5-10.5-4, and IC 5-10.5-6.
(e) The board may hire additional personnel, including hearing
officers, to assist in the implementation of this chapter.
(f) Fund records of individual participants and participants'
information are confidential, except for the name and years of service
of a fund participant.
As added by P.L.98-2004, SEC.18. Amended by P.L.94-2004, SEC.7;
P.L.99-2010, SEC.10; P.L.13-2011, SEC.12; P.L.35-2012, SEC.105.
IC 33-39-7-12
Contributions
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Sec. 12. (a) Except as otherwise provided in this section, each
participant shall make contributions to the fund as follows:
(1) A participant described in section 8(a)(1) of this chapter
shall make contributions of six percent (6%) of each payment
of salary received for services after December 31, 1989.
(2) A participant described in section 8(a)(2) or 8(a)(3) of this
chapter shall make contributions of six percent (6%) of each
payment of salary received for services after June 30, 1994.
A participant's contributions shall be deducted from the participant's
monthly salary by the auditor of state and credited to the fund.
(b) The state may pay the contributions for a participant. The state
may elect to pay the contribution for the participant as a pickup
under Section 414(h) of the Internal Revenue Code.
(c) After a participant has contributed to the fund as provided in
subsection (a) for twenty-two (22) years, the participant is not
required to make additional contributions to the fund.
(d) After December 31, 2011, the auditor of state shall submit the
contributions paid by or on behalf of a participant under this section
by electronic funds transfer in accordance with section 12.5 of this
chapter.
As added by P.L.98-2004, SEC.18. Amended by P.L.13-2011,
SEC.13; P.L.160-2013, SEC.3.
IC 33-39-7-12.5
Submission of contributions, reports, and records electronically
Sec. 12.5. (a) This section applies to reports, records, and
contributions submitted after December 31, 2011, under this chapter.
(b) As used in this section, "electronic funds transfer" has the
meaning set forth in IC 4-8.1-2-7(f).
(c) The state shall submit through the use of electronic funds
transfer contributions paid by or on behalf of a participant under
section 12 of this chapter.
(d) The state shall submit in a uniform format through a secure
connection over the Internet or through other electronic means
specified by the board the reports and records required by the board
under this chapter.
(e) The board shall establish by rule the due dates for all reports,
records, and contributions required under this chapter.
As added by P.L.13-2011, SEC.14.
IC 33-39-7-13
Withdrawals; rejoining fund if participant returns to service
Sec. 13. (a) A participant who:
(1) ceases service in a position described in section 8 of this
chapter, other than by death or disability; and
(2) is not eligible for a retirement benefit under this chapter;
is entitled to withdraw from the fund, beginning on the date specified
by the participant in a written application. The date upon which the
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withdrawal begins may not be before the date of final termination of
employment or the date thirty (30) days before the receipt of the
application by the board. Upon withdrawal the participant is entitled
to receive the total sum contributed plus interest at a rate specified
by rule by the board, payable not later than sixty (60) days from the
date of the withdrawal application.
(b) Notwithstanding section 8 of this chapter, a participant who
withdraws from the fund under subsection (a) and becomes a
participant again at a later date is not entitled to service credit for
years of service before the withdrawal, unless the participant pays
into the fund the full amount received by the participant when the
participant withdrew from the fund, plus interest at a rate specified
by rule by the board. The board shall grant a participant service
credit for years of service by the participant before the participant's
withdrawal from the fund if the participant makes the repayment
required by this subsection in a lump sum or a series of payments
determined by the board, not exceeding five (5) annual installments.
As added by P.L.98-2004, SEC.18. Amended by P.L.16-2011, SEC.9;
P.L.54-2013, SEC.3.
IC 33-39-7-14
Interest credits
Sec. 14. (a) Interest shall be credited annually on June 30 at a rate
specified by rule by the board on all amounts credited to the member
as of June 30 of the preceding year.
(b) Contributions begin to accumulate interest at the beginning of
the fiscal year after the year in which the contributions are due.
(c) When a member retires or withdraws, a proportional interest
credit determined under this chapter shall be paid for the period
elapsed since the last date on which interest was credited.
As added by P.L.98-2004, SEC.18. Amended by P.L.16-2011,
SEC.10.
IC 33-39-7-15
Eligibility for retirement benefits
Sec. 15. A participant whose employment in a position described
in section 8 of this chapter is terminated is entitled to a retirement
benefit computed under section 16 or 18 of this chapter, beginning
on the date specified by the participant in a written application, if all
of the following conditions are met:
(1) The application for retirement benefits and the choice of the
retirement date is filed on a form provided by the board, and the
retirement date is:
(A) after the cessation of the participant's service;
(B) on the first day of a month; and
(C) not more than six (6) months before the date the
application is received by the board.
However, if the board determines that a participant is
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incompetent to file for benefits and choose a retirement date,
the retirement date may be any date that is the first of the month
after the time the participant became incompetent.
(2) The participant:
(A) is at least sixty-two (62) years of age and has at least
eight (8) years of service credit;
(B) is at least fifty-five (55) years of age and the participant's
age in years plus the participant's years of service is at least
eighty-five (85); or
(C) has become permanently disabled.
(3) The participant is not receiving and is not entitled to receive
any salary for services currently performed, except for services
rendered as a senior prosecuting attorney under IC 33-39-10-1.
As added by P.L.98-2004, SEC.18. Amended by P.L.33-2006, SEC.1;
P.L.160-2013, SEC.4; P.L.57-2014, SEC.8.
IC 33-39-7-16
Computation of retirement benefits
Sec. 16. (a) This section does not apply to a participant who
becomes permanently disabled, as described in section 17 of this
chapter.
(b) A participant who:
(1) applies for a retirement benefit; and
(2) is at least:
(A) sixty-five (65) years of age; or
(B) fifty-five (55) years of age and the participant's age in
years plus the participant's years of service is at least
eighty-five (85);
is entitled to an annual retirement benefit as calculated in subsection
(c).
(c) Except as provided in subsections (d), (e), and (f), the amount
of the annual retirement benefit to which a participant described in
subsection (b) is entitled equals the product of:
(1) the highest annual salary that was paid to the participant
before separation from service; multiplied by
(2) the percentage prescribed in the following table:
Participant's Years
Percentage
of Service
Less than 8
0
8
24%
9
27%
10
30%
11
33%
12
50%
13
51%
14
52%
15
53%
16
54%
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17
55%
18
56%
19
57%
20
58%
21
59%
22 or more
60%
If a participant has a partial year of service in addition to at least
eight (8) full years of service, an additional percentage is calculated
under this subsection by prorating between the applicable
percentages, based on the number of months in the partial year of
service.
(d) Except as provided in subsections (e) and (f), and section
19(c)(2)(B) of this chapter, a participant who:
(1) applies for a retirement benefit; and
(2) is not described in subsection (b);
is entitled to receive a reduced annual retirement benefit that equals
the benefit that would be payable if the participant were sixty-five
(65) years of age reduced by one-fourth percent (0.25%) for each
month that the participant's age at retirement precedes the
participant's sixty-fifth birthday.
(e) Except as provided in subsection (f), benefits payable to a
participant under this section are reduced by the pension, if any, that
would be payable to the participant from the public employees'
retirement fund if the participant had retired from the public
employees' retirement fund on the date of the participant's retirement
from the prosecuting attorneys retirement fund. Benefits payable to
a participant under this section are not reduced by annuity payments
made to the participant from the public employees' retirement fund.
(f) This subsection applies to a participant who is a member of the
public employees' defined contribution (annuity savings account
only) plan established by IC 5-10.3-12-18. Benefits payable to a
participant under this section are reduced by the pension portion of
the retirement benefit, if any, that would be payable to the participant
from the public employees' retirement fund if the participant:
(1) had not made an election under IC 5-10.3-12-20 to become
a member of the public employees' defined contribution
(annuity savings account only) plan; and
(2) had retired from the public employees' retirement fund on
the date of the participant's retirement from the prosecuting
attorneys retirement fund.
(g) If benefits payable from the public employees' retirement fund
exceed the benefits payable from the prosecuting attorneys
retirement fund, the participant is entitled at retirement to withdraw
from the prosecuting attorneys retirement fund the total sum
contributed plus interest at a rate specified by rule by the board.
As added by P.L.98-2004, SEC.18. Amended by P.L.33-2006, SEC.2;
P.L.16-2011, SEC.11; P.L.54-2013, SEC.4; P.L.160-2013, SEC.5.
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IC 33-39-7-17
Eligibility for disability benefits; certification by physician;
segregation of records
Sec. 17. (a) A participant is considered to have a permanent
disability if the board has received written certifications by at least
two (2) licensed and practicing physicians, appointed by the board,
that:
(1) the participant is totally incapacitated, by reason of physical
or mental infirmities, from earning a livelihood; and
(2) the condition is likely to be permanent.
(b) A participant found to have a permanent disability under
subsection (a) must be reexamined by at least two (2) physicians
appointed by the board, at the times the board designates but at
intervals not to exceed one (1) year. If, in the opinion of these
physicians, the participant has recovered from the participant's
disability, benefits cease to be payable as of the date of the
examination, unless on that date the participant is:
(1) at least sixty-five (65) years of age; or
(2) at least fifty-five (55) years of age and the participant's age
in years plus the participant's years of service is at least
eighty-five (85).
(c) To the extent required by the Americans with Disabilities Act,
the transcripts, reports, records, and other material generated to prove
that an individual is qualified for disability benefits under this
section must be:
(1) kept in separate medical files for each member; and
(2) treated as confidential medical records.
As added by P.L.98-2004, SEC.18. Amended by P.L.160-2013,
SEC.6.
IC 33-39-7-18
Computation of disability benefits
Sec. 18. (a) Except as provided in subsections (b) and (c), a
participant who becomes permanently disabled, as described in
section 17 of this chapter, is entitled to an annual benefit equal to the
product of:
(1) the annual salary that was paid to the participant at the time
of separation from service; multiplied by
(2) the percentage prescribed in the following table:
Participant's Years
Percentage
of Service
0-12
50%
13
51%
14
52%
15
53%
16
54%
17
55%
18
56%
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19
57%
20
58%
21
59%
22 or more
60%
If a participant has a partial year of service in addition to at least ten
(10) years of service, an additional percentage is calculated under
this subsection by prorating between the applicable percentages,
based on the number of months in the partial year of service.
(b) Except as provided in subsection (c), benefits payable to a
participant under this section are reduced by the amounts, if any, that
are payable to the participant from the public employees' retirement
fund.
(c) This subsection applies to a participant who is a member of the
public employees' defined contribution (annuity savings account
only) plan established by IC 5-10.3-12-18. Benefits payable to a
participant under this section are reduced by the pension portion of
the retirement benefit, if any, that would be payable to the participant
from the public employees' retirement fund if the participant had not
made an election under IC 5-10.3-12-20 to become a member of the
public employees' defined contribution (annuity savings account
only) plan.
As added by P.L.98-2004, SEC.18. Amended by P.L.54-2013, SEC.5;
P.L.160-2013, SEC.7.
IC 33-39-7-19
Benefits payable to surviving spouse; eligibility; computation
Sec. 19. (a) A participant may designate the participant's surviving
spouse or one (1) or more of the participant's surviving dependent
children to receive the benefit provided by this section upon the
death of the participant. A participant may designate a trust or a
custodian account under IC 30-2-8.5 that is established for one (1) or
more of the participant's surviving dependent children to receive the
benefit provided by this section instead of designating one (1) or
more of the participant's surviving dependent children to receive the
benefit directly.
(b) If a participant:
(1) dies; and
(2) on the date of death:
(A) was receiving benefits under this chapter;
(B) was in service in a position described in section 8 of this
chapter and had completed at least eight (8) years of service
in a position described in section 8 of this chapter;
(C) had a permanent disability as described in section 17 of
this chapter; or
(D) was not in service in a position described in section 8 of
this chapter, had completed at least eight (8) years of service
in a position described in section 8 of this chapter, and was
entitled to a future benefit;
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the participant's beneficiary designated under subsection (a) is
entitled, regardless of the participant's age, to the benefit prescribed
by subsection (c), (e), or (f).
(c) The amount of the annual benefit payable to a beneficiary to
whom subsection (b) applies is equal to the greater of:
(1) twelve thousand dollars ($12,000); or
(2) fifty percent (50%) of the amount of retirement benefit:
(A) the participant was drawing at the time of death; or
(B) to which the participant would have been entitled had
the participant retired and begun receiving retirement
benefits on the date of death. However, the reduction
described in section 16(d) of this chapter does not apply to
the calculation of a survivor benefit under this clause.
(d) A benefit payable under this section is subject to the
following:
(1) A surviving spouse designated as the beneficiary under
subsection (a) is entitled to receive the benefit for life.
(2) The total monthly benefit payable to a surviving child or
children is equal to the same monthly benefit that was to have
been payable to the surviving spouse.
(3) If there is more than one (1) child designated by the
participant, the children are entitled to share the benefit in equal
monthly amounts.
(4) A child entitled to a benefit shall receive that child's share
until the child becomes eighteen (18) years of age or during the
entire period of the child's physical or mental disability,
whichever period is longer.
(5) Upon the cessation of benefits to one (1) designated child,
if there are one (1) or more other children then surviving and
still entitled to benefits, the remaining children shall share the
benefit equally. If the surviving spouse of the participant is
surviving upon the cessation of benefits to all designated
children, the surviving spouse shall then receive the benefit for
the remainder of the spouse's life.
(6) The benefit is payable to the participant's surviving spouse
if any of the following occur:
(A) No child or children named as a beneficiary by the
participant survives or survive the participant.
(B) No child or children designated by the participant is or
are entitled to a benefit due to the age of the child or
children at the time of death of the participant.
(C) A designation is not made.
(e) Except as provided in subsection (f), benefits payable to a
designated beneficiary under this section are reduced by the amount,
if any, that is payable to the surviving spouse or the surviving
dependent children from the public employees' retirement fund as a
result of the participant's death after subtracting the participant's
contributions and earnings attributable to the participant's
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contributions in the participant's annuity savings account.
(f) This subsection applies to a surviving spouse of a participant
who is a member of the public employees' defined contribution
(annuity savings account only) plan established by IC 5-10.3-12-18.
Benefits payable to a surviving spouse of a participant under this
section are reduced by the pension portion of the retirement benefit,
if any, that would be payable to the spouse from the public
employees' retirement fund under the joint and survivor option under
IC 5-10.2-4-7, computed at fifty percent (50%) of the participant's
decreased retirement benefit, if the participant had not made an
election under IC 5-10.3-12-20 to become a member of the public
employees' defined contribution (annuity savings account only) plan.
As added by P.L.98-2004, SEC.18. Amended by P.L.33-2006, SEC.3;
P.L.54-2013, SEC.6; P.L.160-2013, SEC.8.
IC 33-39-7-20
Benefits payable to dependent children; eligibility; computation;
distribution
Sec. 20. (a) If:
(1) a participant's spouse does not survive the participant; and
(2) the participant did not designate one (1) or more of the
participant's surviving dependent children to receive the benefit
provided by section 19 of this chapter;
the participant's surviving dependent children are, upon the death of
the participant, entitled to a benefit equal to the benefit the
participant's spouse would have received under section 19 of this
chapter.
(b) If a surviving spouse of a decedent participant dies and a
dependent child of the surviving spouse and the decedent participant
survives them, that dependent child is entitled to receive a benefit
equal to the benefit the spouse was receiving or would have received
under section 19 of this chapter.
(c) If there is more than one (1) dependent child, the dependent
children are entitled to share the benefit equally.
(d) Each dependent child is entitled to receive that child's share
until the child becomes eighteen (18) years of age or during the
entire period of the child's physical or mental disability, whichever
period is longer.
(e) Except as provided in subsection (f), benefits payable to a
dependent child are reduced by the amount, if any, that is payable to
the dependent child from the public employees' retirement fund after
subtracting the participant's contributions and earnings attributable
to the participant's contributions in the participant's annuity savings
account.
(f) This subsection applies to a dependent child of a participant
who is a member of the public employees' defined contribution
(annuity savings account only) plan established by IC 5-10.3-12-18.
Benefits payable to a dependent child of a participant under this
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section are reduced by the actuarial equivalent of the pension portion
of the retirement benefit, if any, that would be payable to the spouse
(assuming the spouse would have had the same birth date as the
participant) from the public employees' retirement fund under the
joint and survivor option under IC 5-10.2-4-7, computed at fifty
percent (50%) of the participant's decreased retirement benefit, if the
participant had not made an election under IC 5-10.3-12-20 to
become a member of the public employees' defined contribution
(annuity savings account only) plan.
As added by P.L.98-2004, SEC.18. Amended by P.L.54-2013, SEC.7;
P.L.160-2013, SEC.9.
IC 33-39-7-21
Withdrawal of funds after participant dies; surviving spouse;
children; estate
Sec. 21. (a) If benefits are not payable to the survivors of a
participant who dies, and if a withdrawal application is filed with the
board by the survivors or the participant's estate, the total of the
participant's contributions, plus interest at a rate specified by rule by
the board and minus any payments made to the participant, shall be
paid to:
(1) the surviving spouse of the participant or the children of the
participant, as designated by the participant;
(2) any dependents of the participant, if a spouse or designated
child does not survive; or
(3) the participant's estate, if a spouse, designated child, or other
dependent does not survive.
(b) The amount owed a spouse, designated children, other
dependents, or estate under subsection (a) is payable not later than
sixty (60) days after the date of receipt of the withdrawal application,
or in monthly installments, as the recipient elects.
As added by P.L.98-2004, SEC.18. Amended by P.L.16-2011,
SEC.12; P.L.160-2013, SEC.10.
IC 33-39-7-22
Satisfaction of Section 401 of the Internal Revenue Code
requirements
Sec. 22. The fund shall satisfy the qualification requirements in
Section 401 of the Internal Revenue Code as applicable to the fund.
In order to meet those requirements, the fund is subject to the
following provisions, notwithstanding any other provision of this
chapter:
(1) The board shall distribute the corpus and income of the fund
to participants and their beneficiaries in accordance with this
chapter.
(2) A part of the corpus or income of the fund may not be used
for or diverted to any purpose other than the exclusive benefit
of the participants and their beneficiaries.
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(3) Forfeitures arising from severance of employment or death,
or for any other reason, may not be applied to increase the
benefits a participant would otherwise receive under the
retirement fund law.
(4) If the fund is terminated, or if all contributions to the fund
are completely discontinued, the rights of each affected
participant to the benefits accrued at the date of the termination
or discontinuance, to the extent then funded, are nonforfeitable.
(5) All benefits paid from the fund shall be distributed in
accordance with the requirements of Section 401(a)(9) of the
Internal Revenue Code and the regulations under that section.
In order to meet those requirements, the fund is subject to the
following provisions:
(A) The life expectancy of a participant, the participant's
spouse, or the participant's beneficiary shall not be
recalculated after the initial determination for purposes of
determining any benefits.
(B) If a participant dies before the distribution of the
participant's benefits has begun, distributions to beneficiaries
must begin no later than December 31 of the calendar year
immediately following the calendar year in which the
member died.
(6) The board may not:
(A) determine eligibility for benefits;
(B) compute rates of contribution; or
(C) compute benefits of participant's beneficiaries;
in a manner that discriminates in favor of participants who are
considered officers, supervisors, or highly compensated, as
prohibited under Section 401(a)(4) of the Internal Revenue
Code.
(7) Benefits paid under this chapter may not exceed the
maximum benefits specified by Section 415 of the Internal
Revenue Code. If a participant's benefits under this chapter
would exceed that maximum benefit, the benefit payable under
this chapter shall be reduced as necessary.
(8) The salary taken into account under this chapter may not
exceed the applicable amount under Section 401(a)(17) of the
Internal Revenue Code.
(9) The board may not engage in a transaction prohibited by
Section 503(b) of the Internal Revenue Code.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-23
Appropriations
Sec. 23. (a) For purposes of this chapter, the following amounts
are appropriated for each biennium:
(1) From the state general fund, the amount required to
actuarially fund participants' retirement benefits, as determined
Indiana Code 2016
by the board on recommendation of an actuary.
(2) From the fund, the amount required for administration
purposes.
(b) The biennial appropriations provided in this section shall be
credited to the board annually in equal installments in the month of
July of each year of the biennium.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-24
Rollover to eligible retirement plan
Sec. 24. Notwithstanding any other provision of this chapter, to
the extent required by Internal Revenue Code Section 401(a)(31), as
added by the Unemployment Compensation Amendments of 1992
(P.L.102-318), and any amendments and regulations related to
Section 401(a)(31), the fund shall allow participants and qualified
beneficiaries to elect a direct rollover of eligible distributions to
another eligible retirement plan.
As added by P.L.98-2004, SEC.18.
IC 33-39-7-25
Administration; service credit
Sec. 25. (a) Notwithstanding any other provision of this chapter,
the fund must be administered in a manner consistent with the
Family and Medical Leave Act of 1993 (29 U.S.C. 2601 et seq.). A
member on a leave of absence that qualifies for the benefits and
protections afforded by the Family and Medical Leave Act is entitled
to receive credit for vesting and eligibility purposes to the extent
required by the Family and Medical Leave Act, but is not entitled to
receive credit for service for benefit purposes.
(b) Notwithstanding any other provision of this chapter, a
participant is entitled to service credit and benefits in the amount and
to the extent required by the Uniformed Services Employment and
Reemployment Rights Act (38 U.S.C. 4301 et seq.).
As added by P.L.98-2004, SEC.18.
Indiana Code 2016
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