Sec. 14. (a) The account may consist of the following:
(1) Contributions made by a participant's employer to the account under section 15 or 16 of this chapter.
(2) All earnings on investments or deposits of the account.
(3) All contributions or payments to the account made in a manner provided by the general assembly.
(b) The administrative costs of the account shall be paid from the earnings of the account before the earnings are credited to participants' subaccounts.
(c) The INPRS shall establish a subaccount for each participant. Each participant's subaccount may be credited with:
(1) the contributions made to the account on behalf of the participant under this chapter; and
(2) after the costs described in subsection (b) are paid, the earnings attributable to the balance of the subaccount offset by the administrative costs not covered by subsection (b).
As added by P.L.44-2007, SEC.1. Amended by P.L.108-2019, SEC.91.
Structure Indiana Code
Title 5. State and Local Administration
Article 10. Public Employee Benefits
Chapter 8.5. Retirement Medical Benefits Account
5-10-8.5-0.1. Application of Certain Amendments to Chapter
5-10-8.5-1. Application of Chapter
5-10-8.5-7. "Internal Revenue Code"
5-10-8.5-9. "Retired Participant"
5-10-8.5-9.5. Transfer of Service Credit; Eligible Employee
5-10-8.5-9.6. Transfer of Service Credit; Position Other Than Eligible Employee
5-10-8.5-11. Account Established; Administered by Inprs; Specific Appropriation Required
5-10-8.5-12. Authorization to Request Internal Revenue Service Rulings
5-10-8.5-13. Management and Pooling of Account Assets; Confidentiality of Account Records
5-10-8.5-14. Account; Subaccounts; Administrative Costs
5-10-8.5-15. Annual Employer Contributions; Limits for Certain Participants
5-10-8.5-16. Employer Additional Contribution; Eligibility; Computation
5-10-8.5-17. Eligibility for Benefits; Benefit Amount
5-10-8.5-18. Account Benefits; Coverage
5-10-8.5-19. Surviving Spouse or Dependent Use of Account; Forfeiture