Sec. 4. (a) A participants' savings fund is hereby created. This fund shall be maintained by the board as a trust fund, separate and distinct from all other entities for the purpose of securing payment of benefits to participants and their survivors, as provided in this chapter.
(b) The participants' savings fund shall consist of the following:
(1) each participant's contributions to the fund;
(2) all gifts, grants, devises and bequests in money, property, or other form which may be made to the fund;
(3) all interest on investments or on deposits of the fund;
(4) all contributions or payments to the fund made in any manner provided by the general assembly, including appropriations from the general fund of the state; and
(5) any funds transferred to the fund from the public employees' retirement fund under the provisions of section 6 of this chapter.
(c) Within the participants' savings fund established by subsection (a), the board shall maintain a supplemental allowance reserve account for the purpose of paying postretirement benefit adjustments, including postretirement benefit increases, thirteenth checks, and other benefit changes or adjustments granted by the general assembly after June 30, 2018, to participants of the state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement plan. The account consists of:
(1) amounts allotted to the account by the board from amounts transferred to the Indiana public retirement system under IC 4-30-16-3;
(2) amounts appropriated or transferred to the account by the general assembly;
(3) contributions from employers under IC 5-10.2-12-3; and
(4) donations, gifts, bequests, and devises made to the account.
Formerly: Acts 1972, P.L.1, SEC.1. As amended by P.L.127-2018, SEC.4; P.L.136-2018, SEC.33.
Structure Indiana Code
Title 5. State and Local Administration
Article 10. Public Employee Benefits
5-10-5.5-2. Creation; Investment of Plan Assets
5-10-5.5-2.5. Qualification of Plan Under Internal Revenue Code
5-10-5.5-3. Management; Confidentiality of Retirement Plan Records
5-10-5.5-3.5. Administration of Retirement Plan Consistent With Americans With Disabilities Act
5-10-5.5-4. Participants' Saving Fund; Creation
5-10-5.5-5. Participants; Eligibility
5-10-5.5-6. Transfer of Funds to Savings Fund
5-10-5.5-7. Transfer of Creditable Service; Credit During Disability
5-10-5.5-7.5. Purchase of Service Credit Earned in Certain Indiana Public Retirement Funds
5-10-5.5-8. Contributions; Rate; Payroll Deductions; Employer Pick-Up of Contributions
5-10-5.5-8.5. Submission of Contributions, Reports, and Records Electronically
5-10-5.5-9. Retirement Provisions
5-10-5.5-10. Retirement Allowance
5-10-5.5-12. Early Retirement Allowance; Monthly Installments
5-10-5.5-13. Permanent or Temporary Disability
5-10-5.5-14. Disability Occurring Before July 1, 1987; Allowance; Monthly Installments; Cessation
5-10-5.5-15. Surviving Mothers, Fathers, Spouses, or Unmarried Children; Eligibility for Benefits
5-10-5.5-16. Survivors' Benefits; Death Before February 1, 2018; Amount
5-10-5.5-16.3. Survivors' Benefits; Other Than Line of Duty Death After January 31, 2018; Amount
5-10-5.5-16.6. Survivors' Benefits; Line of Duty Death After January 31, 2018; Amount
5-10-5.5-17. Lump Sum Refund of Contributions or Payments
5-10-5.5-18. Termination of Service Before Accumulating 15 Years of Creditable Service
5-10-5.5-19. Public Employees Retirement Fund Law; Applicability
5-10-5.5-21. Increase in Monthly Benefits