Sec. 20.5. (a) This section applies to an individual described in section 1(a)(3) of this chapter who is otherwise eligible to become a member of the plan.
(b) An individual described in subsection (a) may elect to become a member of the plan on the date the individual begins the individual's employment in a covered position with a political subdivision that participates in the plan. The election applies to all service credit that the member accrues in a covered position as an employee of the political subdivision while the political subdivision participates in the plan.
(c) 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; and
(3) is irrevocable.
(d) Except as provided in section 32(b) of this chapter, an individual described in subsection (a) who does not elect to become a member of the plan becomes a member (as defined in IC 5-10.3-1-5) of the fund for all service credit that the member accrues in a covered position as an employee of the political subdivision while the political subdivision participates in the fund.
As added by P.L.241-2015, SEC.30. Amended by P.L.209-2016, SEC.5.
Structure 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
5-10.3-12-3. "Annuity Savings Account"
5-10.3-12-6. "Dies in the Line of Duty"
5-10.3-12-7.5. "Employees of the State"
5-10.3-12-9. "Employer Contribution Subaccount"
5-10.3-12-11. "Internal Revenue Code"
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"
5-10.3-12-15.5. "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
5-10.3-12-21. Plan; Member Accounts; Rollover Accounts
5-10.3-12-24.7. Political Subdivision Contributions; Members of a Volunteer Fire Department
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