Sec. 3. (a) The city executive is president of the local board, the police chief is its vice president, the county treasurer is its treasurer, and the local board shall elect a secretary. The secretary shall be paid out of the 1953 fund a sum for the secretary's services as fixed by the local board.
(b) The treasurer:
(1) has custody of all property, money, and securities belonging to the 1953 fund and shall collect the principal and interest on them;
(2) is liable on the treasurer's bond as a county officer for the faithful accounting of all money and securities belonging to the 1953 fund that come into the treasurer's hands;
(3) shall keep a separate account showing at all times the true condition of the 1953 fund; and
(4) shall, upon the expiration of the treasurer's term of office, account to the local board for all money and securities coming into the treasurer's hands, including the proceeds of them, and turn over to the treasurer's successor all money and securities belonging to the fund remaining in the treasurer's hands.
(c) The secretary shall:
(1) keep a true account of the proceedings of the local board when acting upon matters relating to the 1953 fund;
(2) keep a correct statement of the accounts of each member with the 1953 fund;
(3) give the local board a monthly account of the secretary's acts and services as secretary;
(4) turn over to the secretary's successor all books and papers pertaining to the secretary's office; and
(5) perform any other duties imposed upon the secretary by the local board.
(d) The secretary shall, in the manner prescribed by IC 5-4-1, execute a bond conditioned upon the faithful discharge of the secretary's duties.
(e) The secretary and treasurer shall make complete and accurate reports of their trusts to the local board on the first Monday in February of each year, copies of which shall be filed with the city fiscal officer. The books of the secretary and treasurer must be open at all times to examination by members of the local board.
As added by Acts 1982, P.L.77, SEC.9. Amended by P.L.127-2017, SEC.254.
Structure Indiana Code
Chapter 7.5. 1953 Police Pension Fund (Indianapolis)
36-8-7.5-0.1. Application of Certain Amendments to Chapter
36-8-7.5-1. Application of Chapter; Officers Eligible for Benefits
36-8-7.5-1.5. Qualification of 1953 Fund Under Internal Revenue Code; Benefit Limitations
36-8-7.5-1.7. "Americans With Disabilities Act"
36-8-7.5-1.9. Administration of Fund
36-8-7.5-2. Establishment of Fund; Local Board of Trustees; Terms; Vacancies; Compensation; Bylaws
36-8-7.5-3. Officers of Local Board; Powers and Duties; Secretary's Bond; Reports
36-8-7.5-4. Management of Revenue of Fund by Local Board
36-8-7.5-5. Applications to Local Board for Annuities, Pensions, and Benefits
36-8-7.5-6. Annual Report of Local Board
36-8-7.5-7. Employees of Local Board; Compensation
36-8-7.5-9. City Officers; Powers and Duties
36-8-7.5-10. Insufficient Pension Fund; Estimates; Statement; Tax Levy
36-8-7.5-10.5. Use of Certain Amounts in 1953 Fund
36-8-7.5-11. Investments of Local Board
36-8-7.5-12. Voluntary Retirement Pension; Emergency Services
36-8-7.5-12.5. Reemployment After Retirement
36-8-7.5-13.2. Determination Whether Disability in Line of Duty
36-8-7.5-13.6. Members Dying Other Than in Line of Duty
36-8-7.5-13.7. Members Dying in Line of Duty Before September 1, 1982
36-8-7.5-13.8. Death Benefits Paid to Beneficiary or Estate of Member
36-8-7.5-14.1. Members Dying in Line of Duty After August 31, 1982
36-8-7.5-15. Necessity of Application; Dismissed Member of Police Department
36-8-7.5-16. Reduction in Monthly Pension
36-8-7.5-20. Benefits Paid Contrary to Law; Recovery of Pension
36-8-7.5-21. Remuneration or Allowances Not to Be Used in Computation of Benefits
36-8-7.5-22. Special Lump Sum Death Benefit in Addition to Other Benefits