Indiana Code
Chapter 12. Public Employees' Defined Contribution Plan
5-10.3-12-20.3. Election During July 2016, by First Time State Employee Who Is Fund Member

Sec. 20.3. (a) This section applies to an individual who:
(1) is an employee of the state on July 1, 2016;
(2) became for the first time, after January 1, 2013, a full-time employee of the state in a position that is eligible for membership in the fund under IC 5-10.3-7; and
(3) is a member (as defined in IC 5-10.3-1-5) of the fund.
(b) An individual to whom this section applies may elect to become a member of the plan. An election under this section:
(1) must be made in writing;
(2) must be filed with the board, on a form prescribed by the board, not later than July 30, 2016; and
(3) is irrevocable.
(c) If an individual makes the election described in subsection (b), the following apply:
(1) The individual's service from the date, after January 1, 2013, that the individual first became a full-time employee of the state until the date immediately preceding the date of the individual's election under subsection (b) is considered participation in the plan for purposes of vesting in the employer contribution subaccount under section 25 of this chapter, and the individual waives service credit in the fund for the service.
(2) The amount credited to the individual's annuity savings account in the fund on the date of the individual's election under subsection (b) is transferred to the individual's member contribution subaccount.
(3) The amounts paid to the fund by the state as employer normal cost contributions for the individual from the date, after January 1, 2013, that the individual first became a full-time employee of the state until the date immediately preceding the date of the individual's election under subsection (b) are transferred to the individual's employer contribution subaccount.
As added by P.L.193-2016, SEC.15.

Structure Indiana Code

Indiana Code

Title 5. State and Local Administration

Article 10.3. The Public Employees' Retirement Fund

Chapter 12. Public Employees' Defined Contribution Plan

5-10.3-12-1. Applicability of Chapter

5-10.3-12-2. "Account"

5-10.3-12-3. "Annuity Savings Account"

5-10.3-12-4. "Board"

5-10.3-12-5. "Compensation"

5-10.3-12-6. "Dies in the Line of Duty"

5-10.3-12-7. "Effective Date"

5-10.3-12-7.5. "Employees of the State"

5-10.3-12-8. "Employer"

5-10.3-12-9. "Employer Contribution Subaccount"

5-10.3-12-10. "Fund"

5-10.3-12-11. "Internal Revenue Code"

5-10.3-12-12. "Member"

5-10.3-12-13. "Member Contribution Account"

5-10.3-12-14. "Normal Retirement Age"

5-10.3-12-14.5. "Participating Political Subdivision"

5-10.3-12-15. "Plan"

5-10.3-12-15.5. "Volunteer Fire Department"

5-10.3-12-16. "Years of Participation"

5-10.3-12-17. Applicability of Other Laws

5-10.3-12-18. Establishment and Administration of Plan; Internal Revenue Service Approval

5-10.3-12-19. Authorization to Request Internal Revenue Service Rulings or Determination Letters

5-10.3-12-20. Plan Membership; Election; Fund Membership

5-10.3-12-20.3. Election During July 2016, by First Time State Employee Who Is Fund Member

5-10.3-12-20.5. Election by Employee of Political Subdivision to Become Plan Member; Failure to Make Election

5-10.3-12-21. Plan; Member Accounts; Rollover Accounts

5-10.3-12-22. Alternative Investment Programs; Stable Value Fund Program; Requirements and Rules; Administrative Fees

5-10.3-12-23. Member Required Contributions; Additional Contributions; Crediting; Employer Pick-Up and Payment

5-10.3-12-24. State Employer Contribution; Contribution Rate Determination; Minimum Rate; Amounts Credited; Electronic Submission of Contributions

5-10.3-12-24.5. Political Subdivision Employer Contribution; Contribution Rate Determination; Amounts Credited; Electronic Submission of Contributions

5-10.3-12-24.7. Political Subdivision Contributions; Members of a Volunteer Fire Department

5-10.3-12-25. Member Contributions Belong to Member; Vesting Schedule for Employer Contributions; Forfeiture of Amounts Not Vested

5-10.3-12-26. Member Accounts; Withdrawals; Forms of Payment

5-10.3-12-27. Member Accounts; Beneficiary or Survivor Withdrawals; Forms of Payment

5-10.3-12-28. Plan Exempt From Legal Process; Assignment of Payments

5-10.3-12-29. Rollover Contributions; Rollover Accounts

5-10.3-12-30. Member Accounts; Disability Withdrawals; Forms of Payment

5-10.3-12-31. Effect of Reemployment on Plan Participation

5-10.3-12-32. Election by State or Participating Political Subdivision to Allow Plan Participation by Retired Reemployed Fund Members