Sec. 3.5. (a) After June 30, 2018, a participant may not make contributions to the board's general investment fund.
(b) For those participants who, as of December 31, 2018, have designated the board's general investment fund as the investment program to receive all or part of the contributions to the participant's account, the board shall designate as a substitute one (1) or more alternative investment programs that are to receive those contributions after December 31, 2018. The designation by the board of an alternative investment program to receive a participant's contributions under this subsection remains in effect until the participant makes another allowable designation.
(c) After December 31, 2018, if a participant has allocated all or part of the amount credited to the participant to the board's general investment fund, the board shall exchange the amount allocated to the board's general investment fund by the participant for an equivalent market value allocation to a target date fund determined by the rules of the board.
As added by P.L.179-2018, SEC.2.
Structure Indiana Code
Article 3.5. Legislative Retirement Benefits
Chapter 5. Legislators' Defined Contribution Plan
2-3.5-5-2. Defined Contribution Fund; Content
2-3.5-5-3. Alternative Investment Programs
2-3.5-5-3.5. Default Investment Option
2-3.5-5-4. Participant Contributions to the Fund
2-3.5-5-6. Termination of Service; Withdrawal From the Fund
2-3.5-5-7. Death of Participant; Designated Beneficiaries; Surviving Spouse; Dependent Children
2-3.5-5-8. Biennial Appropriation
2-3.5-5-9. Exemptions; Criminal Taking of State Property