Sec. 5.5. (a) This section applies to a balance in the 1925 fund that:
(1) accrued from property taxes;
(2) is not necessary to meet the pension, disability, and survivor benefit payment obligations of the 1925 fund because of amendments to IC 5-10.3-11-4.7 in 2008; and
(3) is determined under subsection (c).
(b) A local board may authorize the use of money in the 1925 fund to pay any or all of the following:
(1) The costs of health insurance or other health benefits provided to members, survivors, and beneficiaries of the 1925 fund.
(2) The municipality's employer contributions under IC 36-8-8-6.
(3) The contributions paid by the municipality for a member under IC 36-8-8-8(a).
(c) The maximum amount that may be used under subsection (b) is equal to the sum of:
(1) the unencumbered balance of the 1925 fund on December 31, 2008; plus
(2) the amount of property taxes:
(A) imposed for an assessment date before January 16, 2008, for the benefit of the 1925 fund; and
(B) deposited in the 1925 fund after December 31, 2008.
As added by P.L.182-2009(ss), SEC.428.
Structure Indiana Code
Chapter 6. 1925 Police Pension Fund
36-8-6-0.1. Application of Certain Amendments to Chapter
36-8-6-1. Application of Chapter
36-8-6-1.5. Qualification of 1925 Fund Under Internal Revenue Code; Benefit Limitations
36-8-6-1.7. "Americans With Disabilities Act"
36-8-6-1.9. Administration of Fund
36-8-6-2. Creation of Fund; Management by Board of Trustees; Selection and Compensation of Trustees
36-8-6-3. Board of Trustees; Officers; Duties
36-8-6-4. Derivation of Funds; Salary Assessments
36-8-6-5. Insufficient Funds; Payment of Deficiency by Municipality; Tax Levy
36-8-6-5.5. Use of Certain Amounts in 1925 Fund
36-8-6-8.1. Determination Whether Disability in Line of Duty
36-8-6-9.5. Reemployment After Retirement
36-8-6-9.6. Members Dying Other Than in Line of Duty; Monthly Benefit
36-8-6-11. Members Dismissed After 20 Years' Service; Benefits
36-8-6-12. Reduction of Benefits After First Payment
36-8-6-15. Ineligibility of Certain Employees for Pension Plan
36-8-6-16. Eligibility of Persons Employed When Fund Established
36-8-6-18. Pension Funds Governed by Other Laws
36-8-6-19. Items Excluded When Computing Benefits; Liability for Overpayment
36-8-6-20. Special Lump Sum Death Benefit in Addition to Other Benefits