Sec. 16. (a) Except as provided in subsection (f), if a participant meets all of the following conditions the participant is entitled to receive an additional contribution credited to the participant's subaccount and computed as described in subsection (b):
(1) The participant is, on the earlier of the participant's last day of service with the participant's employer, or July 1, 2017:
(A) eligible for a normal, unreduced retirement benefit from the public employee retirement fund of which the participant is a member; or
(B) an elected or appointed officer.
(2) The participant has terminated service:
(A) from the employer; or
(B) as an elected or appointed officer.
(3) By the earlier of the participant's last day of service or July 1, 2017, the participant has completed:
(A) fifteen (15) years of service with the employer; or
(B) ten (10) years of service as an elected or appointed officer.
(4) This subdivision does not apply to an elected or appointed officer. By the participant's last day of service with the participant's employer, the participant has applied to receive a normal, unreduced retirement benefit from the public employee retirement fund of which the participant is a member.
(b) The amount of the contribution to a participant's subaccount under this section is the product of:
(1) the participant's years of service (rounded down to the nearest whole year):
(A) with the participant's employer, determined on the earlier of:
(i) the participant's last day of service with the participant's employer; or
(ii) July 1, 2017; or
(B) as an elected or appointed officer, determined on the earlier of:
(i) the participant's last day of service as an elected or appointed officer; or
(ii) July 1, 2017; multiplied by
(2) one thousand dollars ($1,000).
(c) For a participant who has service with more than one (1) employer, the participant's years of service used in the computation under subsection (b)(1) is the sum of all of the participant's years of service determined on the earlier of:
(1) the participant's last day of service; or
(2) July 1, 2017.
(d) The participant's employer must credit the additional contribution made under this section to the participant's subaccount not later than sixty (60) days after the participant's last day of service.
(e) A participant who meets the requirements to receive an additional contribution under this section may receive the additional contribution only once, regardless of the participant's employment after the payment of the additional contribution.
(f) An additional contribution under this section shall not be made after June 30, 2011, to any of the following participants:
(1) A conservation officer of the department of natural resources.
(2) An employee of the state excise police.
(3) An employee of the state police department, other than the following:
(A) An employee of the state police department who waived coverage under a common and unified plan of self-insurance under IC 5-10-8-6 before July 1, 2011.
(B) An employee of the state police department who makes an election under IC 5-10-8.5-9.5.
(C) An employee of the state police department who makes an election under IC 5-10-8.5-9.6.
As added by P.L.44-2007, SEC.1. Amended by P.L.3-2008, SEC.25; P.L.229-2011, SEC.75; P.L.213-2015, SEC.60.
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