Indiana Code
Chapter 5. Legislators' Defined Contribution Plan
2-3.5-5-2. Defined Contribution Fund; Content

Sec. 2. (a) The defined contribution fund consists of the following:
(1) Each participant's contributions to the fund.
(2) Contributions made to the fund on behalf of the participants under:
(A) section 5 of this chapter (before its repeal on January 1, 2009); or
(B) after December 31, 2008, section 5.5 of this chapter.
(3) Amounts transferred to the fund under subsections (b) and (c).
(4) All gifts, grants, devises, and bequests in money, property, or other form made to the fund.
(5) All earnings on investments or on deposits of the funds.
(6) All contributions or payments to the fund made in a manner provided by the general assembly.
(b) On any July 1 following the date a participant begins participation in the defined contribution fund, if the participant has been before that date a member of PERF, any amount in the PERF annuity savings account credited to the participant may at the participant's irrevocable option be transferred one (1) time to the defined contribution fund for the benefit of the participant. At no other time, if the participant continues or begins to participate in PERF, may such a transfer be made.
(c) On any July 1 following the date a participant begins participation in the defined contribution fund, if the participant has been before that date a member of TRF, the amount in the TRF annuity savings account credited to the participant may at the participant's irrevocable election be transferred one (1) time to the defined contribution fund for the benefit of the participant. At no other time, if the participant continues or begins to participate in TRF, may the transfer be made.
(d) Each participant shall be credited individually with:
(1) the participant's contributions to the fund under section 4 of this chapter, which shall be credited to the participant's account;
(2) the contributions made to the fund on behalf of the participant under:
(A) section 5 of this chapter (before its repeal on January 1, 2009); or
(B) after December 31, 2008, section 5.5 of this chapter;
which shall be credited to the participant's account;
(3) the amount transferred to the fund under subsections (b) and (c), which shall be credited to the participant's account; and
(4) the net earnings on the participant's accounts, determined under section 3 of this chapter.
As added by P.L.6-1989, SEC.1. Amended by P.L.195-1999, SEC.2 and P.L.205-1999, SEC.3; P.L.43-2007, SEC.2.