Sec. 8.3. (a) This section applies to a political subdivision that:
(1) either:
(A) withdraws from the fund under section 8 of this chapter; or
(B) freezes its participation in the fund as described in section 8.2 of this chapter; and
(2) chooses thereafter to offer a retirement plan to its employees.
(b) Except as provided in subsection (c), a political subdivision to which this section applies may offer a retirement plan to its employees only by participating in the defined contribution plan under IC 5-10.3-12.
(c) If, on July 1, 2015, a political subdivision to which this section applies has established or is otherwise participating in a defined contribution plan other than the defined contribution plan under IC 5-10.3-12, the political subdivision may continue to participate in the defined contribution plan in which the political subdivision participated on July 1, 2015.
As added by P.L.241-2015, SEC.18.
Structure Indiana Code
Title 5. State and Local Administration
Article 10.3. The Public Employees' Retirement Fund
Chapter 6. Participation by Political Subdivisions
5-10.3-6-1. Admission to Fund or Plan
5-10.3-6-1.1. Volunteer Fire Departments; Plan Participation
5-10.3-6-1.5. Authorized Agent in Third Class City or Town
5-10.3-6-2. Preliminary Survey
5-10.3-6-3. Powers of Governing Body
5-10.3-6-6. Appropriations and Payments by School Corporations
5-10.3-6-7. Collection of Payments
5-10.3-6-8. Withdrawal of Political Subdivision
5-10.3-6-8.2. Freeze in Participation by Political Subdivision
5-10.3-6-8.5. Certain State University Employees Involved in Health Care
5-10.3-6-9. Participation of Political Subdivision With Retirement System