Sec. 6. (a) The local board shall determine how much of the 1925 fund may be safely invested and how much should be retained for the needs of the fund. The investment shall be made:
(1) in interest bearing bonds of the United States, the state, or an Indiana municipal corporation. The bonds shall be deposited with and must remain in the custody of the treasurer of the board, who shall collect the interest due as it becomes due; or
(2) under IC 5-13-9.
(b) Investments under this section are subject to section 1.5 of this chapter.
[Pre-Local Government Recodification Citation: 19-1-24-3 part.]
As added by Acts 1981, P.L.309, SEC.55. Amended by P.L.55-1989, SEC.49; P.L.35-1999, SEC.8.
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