Indiana Code
Title 5. State and Local Administration
Article 10.3. The Public Employees' Retirement Fund

5-10.3-2-4. Participation in Fund or State Defined Contribution Plan by Qualifying Employees of Eligible Entity - Sec. 4. (a) The following definitions apply throughout this section:...

Chapter 3. The Board of Trustees

5-10.3-3-1. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.36-1996,...

5-10.3-3-2. Repealed - As added by Acts 1977, P.L.53, SEC.3. Repealed by P.L.23-2011,...

5-10.3-3-3. Repealed - As added by Acts 1977, P.L.53, SEC.3. Repealed by P.L.23-2011,...

5-10.3-3-4. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.25-1994,...

5-10.3-3-5. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.28-1984,...

5-10.3-3-6. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.62-2005,...

5-10.3-3-7. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by Acts...

5-10.3-3-7.1. Annual Analysis of Fund - Sec. 7.1. The board shall annually analyze for internal control...

5-10.3-3-8. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by Acts...

5-10.3-3-9. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.46-1988,...

5-10.3-3-10. Actuary; Duties - Sec. 10. The actuary shall perform the duties specified in...

Chapter 4. State Officers of the Fund

5-10.3-4-1. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.46-1988,...

5-10.3-4-2. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.5-1990,...

5-10.3-4-3. Attorney General - Sec. 3. The Attorney General. The attorney general of the...

Chapter 5. Accounts; Investments

5-10.3-5-1. Accounts in Fund - Sec. 1. Accounts in the Fund. The fund consists of...

5-10.3-5-2. Employer Contributions; Federal Money - Sec. 2. Employer Contributions; Federal Moneys. (a) The state shall...

5-10.3-5-3. Investments of Assets; Management Agreements; Board Exemptions on Sale of Surplus Personal Property or State Property - Sec. 3. (a) The board shall invest its assets with...

5-10.3-5-3.1. Board Transactions Subject to Qualification Requirements of Internal Revenue Code - Sec. 3.1. The board's transactions under section 3 of this...

5-10.3-5-4. Investments - Sec. 4. (a) Securities shall be held for the fund...

5-10.3-5-5. Custodians - Sec. 5. (a) The custodians must be banks or trust...

5-10.3-5-6. Termination of Agreements - Sec. 6. Termination of Agreements and Contracts. The board may...

5-10.3-5-7. Actuarial Reports; Status of Reserve Account; Charges Against Difference Between Reserves in Account and Accrued Liability - Sec. 7. (a) After each fiscal year, the actuary shall...

Chapter 6. Participation by Political Subdivisions

5-10.3-6-0.5. "Plan" - Sec. 0.5. As used in this chapter, "plan" refers to...

5-10.3-6-1. Admission to Fund or Plan - Sec. 1. (a) The governing body of a political subdivision...

5-10.3-6-1.1. Volunteer Fire Departments; Plan Participation - Sec. 1.1. (a) This section applies to a political subdivision...

5-10.3-6-1.5. Authorized Agent in Third Class City or Town - Sec. 1.5. (a) This section applies to a third class...

5-10.3-6-2. Preliminary Survey - Sec. 2. The governing body may request a preliminary survey,...

5-10.3-6-3. Powers of Governing Body - Sec. 3. Powers of the Governing Body. After a political...

5-10.3-6-4. Accounts - Sec. 4. The board shall maintain separate accounts for each...

5-10.3-6-5. Repealed - As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.47-1985,...

5-10.3-6-6. Appropriations and Payments by School Corporations - Sec. 6. A school corporation shall make the appropriations and...

5-10.3-6-7. Collection of Payments - Sec. 7. (a) If the employer or political subdivision fails...

5-10.3-6-8. Withdrawal of Political Subdivision - Sec. 8. (a) As used in this section, "withdrawing political...

5-10.3-6-8.2. Freeze in Participation by Political Subdivision - Sec. 8.2. (a) The following definitions apply throughout this section:...

5-10.3-6-8.3. Retirement Plans Offered by Political Subdivision That Withdraws From or Freezes Participation in Fund - Sec. 8.3. (a) This section applies to a political subdivision...

5-10.3-6-8.5. Certain State University Employees Involved in Health Care - Sec. 8.5. (a) This section only applies if: (1) certain...

5-10.3-6-8.9. State Employee Terminations Resulting From Lease or Contractual Arrangement With Nongovernmental Entity - Sec. 8.9. (a) This section applies when certain employees of...

5-10.3-6-9. Participation of Political Subdivision With Retirement System - Sec. 9. Participation of Political Subdivision with Retirement Systems. If...

5-10.3-6-10. Transfer of Assets - Sec. 10. (a) If a political subdivision with a retirement...

5-10.3-6-11. Repealed - As added by Acts 1977, P.L.53, SEC.3. Repealed by P.L.16-1986,...

Chapter 7. Membership; Creditable Service; Contributions; Withdrawal

5-10.3-7-0.1. Application of Certain Amendments to Chapter - Sec. 0.1. The amendments made to section 5 of this...

5-10.3-7-0.3. Legalization of Certain Actions Under Section 2 of Chapter - Sec. 0.3. Actions taken before April 16, 1987, that would...

5-10.3-7-1. Members of Fund - Sec. 1. (a) This section does not apply to: (1)...

5-10.3-7-1.1. Election by Employee of Political Subdivision to Become Fund Member; Failure to Make Election - Sec. 1.1. (a) An individual: (1) who becomes a full-time...

5-10.3-7-2. Exclusions From Membership - Sec. 2. The following employees may not be members of...

5-10.3-7-2.5. Constables - Sec. 2.5. Notwithstanding the provisions of section 2 of this...

5-10.3-7-2.7. Police Officers and Firefighters - Sec. 2.7. (a) This section applies only to an individual...

5-10.3-7-3. Optional Membership - Sec. 3. (a) Members of the general assembly, including members...

5-10.3-7-3.5. State Lottery Commission Members and Employees - Sec. 3.5. (a) As used in this section, "commission" refers...

5-10.3-7-4. Creditable Service - Sec. 4. Except as provided in section 7.5 of this...

5-10.3-7-4.3. Public Employees' Defined Contribution Plan Service Credit Purchase - Sec. 4.3. (a) A member of the fund who is...

5-10.3-7-4.5. Out-of-State Service Credit Purchase - Sec. 4.5. (a) As used in this section, "out-of-state service"...

5-10.3-7-4.6. In-State Service Credit Purchase - Sec. 4.6. (a) Subject to the provisions of this section,...

5-10.3-7-4.7. Purchase of Service Credit Earned in 1977 Police Officers' and Firefighters' Pension and Disability Fund - Sec. 4.7. (a) As used in this section, "1977 fund"...

5-10.3-7-4.8. State Quasi-Governmental Entity Service Credit Purchase - Sec. 4.8. (a) As used in this section, "state quasi-governmental...

5-10.3-7-5. Military Service Credit - Sec. 5. (a) A member who: (1) enters the United...

5-10.3-7-6. Leave Service Credit - Sec. 6. (a) A member is entitled to service credit...

5-10.3-7-7. Service Credits for Public Service - Sec. 7. (a) A member with at least one (1)...

5-10.3-7-7.5. Exclusion of Service Before Prior Service Credit Date Contained in Resolution - Sec. 7.5. Notwithstanding IC 5-10.2-3-1, for the purpose of computing...

5-10.3-7-7.7. Employees of Township Trustee's Office; Service Credit - Sec. 7.7. (a) For the purposes of computing benefits and...

5-10.3-7-7.8. Repealed - As added by P.L.61-1989, SEC.2; P.L.333-1989(ss), SEC.2. Repealed by P.L.1-1990,...

5-10.3-7-7.9. Service Credits; Eligibility; Computation - Sec. 7.9. (a) This section applies to a person who...

5-10.3-7-8. Other Service - Sec. 8. Other Service. The board may establish rules to...

5-10.3-7-9. Member Contributions - Sec. 9. (a) This section: (1) does not apply to...

5-10.3-7-9.5. Rollover Contributions; Trustee to Trustee Transfers; Liability for Income Tax Consequences of Transfers - Sec. 9.5. (a) The fund may accept cash rollover contributions...

5-10.3-7-9.6. State Required to Make Certain Contributions - Sec. 9.6. (a) The state shall initiate the contributions required...

5-10.3-7-10. Membership Records - Sec. 10. Each department shall submit to the board certified...

5-10.3-7-11. Payroll Preparation - Sec. 11. The director shall certify to the department the...

5-10.3-7-12. Certification of Deductions; Transfer to Fund - Sec. 12. A certified copy of each department's payroll or...

5-10.3-7-12.5. Reports, Records, or Membership Payments; Failure to Submit - Sec. 12.5. (a) An employer or department shall make the...

5-10.3-7-13. Suspension of Membership; Withdrawal of Contributions - Sec. 13. Suspension of Membership; Withdrawal of Contributions. Each member...

5-10.3-7-14. Governor's Waiver of Membership - Sec. 14. A governor who makes an irrevocable choice under...

5-10.3-7-15. Reinstatements of Eligibility - Sec. 15. A person who has fifteen (15) or more...

Chapter 8. Benefits

5-10.3-8-0.1. Application of Certain Amendments to Chapter - Sec. 0.1. The addition of section 13 of this chapter...

5-10.3-8-1. Conditions and Computation - Sec. 1. Retirement and Retirement Benefits. The conditions for a...

5-10.3-8-2. State Legislators; Average of Annual Compensation; Computation - Sec. 2. In computing the pension for a member of...

5-10.3-8-3. Retirement Benefit Options - Sec. 3. Retirement Benefit Options. A member may have his...

5-10.3-8-4. Disability Retirement; Conditions; Computation - Sec. 4. Disability Retirement and Disability Retirement Benefit. The conditions...

5-10.3-8-5. Claims of Error - Sec. 5. A member may petition the board to correct...

5-10.3-8-6. Death Settlements - Sec. 6. Death Settlements. The conditions for payments upon the...

5-10.3-8-7. Re-Employment of Retired Members - Sec. 7. Re-employment of Retired Members. The re-employment of retired...

5-10.3-8-8. Payment of Retirement Benefit - Sec. 8. Except as provided under IC 5-10.2-4-7(f), the retirement...

5-10.3-8-9. Benefits Exempted From Legal Process; Reimbursement of Employers; Withholding Payments While Charges of Criminal Taking From Employer Pending - Sec. 9. (a) All benefits, refunds of contributions, and money...

5-10.3-8-10. Assignment of Benefits - Sec. 10. Assignment of Benefits. A member or a beneficiary...

5-10.3-8-11. Federal Agricultural Employees; Federal and State Portions of Retirement or Disability Benefit; Limitations - Sec. 11. (a) The retirement or disability benefit (including the...

5-10.3-8-12. Stopping Member's Benefit Payments; Grounds; Limitations - Sec. 12. (a) The board may stop a member's, survivor's,...

5-10.3-8-13. Public Employees' Retirement Fund Benefits; Cost of Living Increase - Sec. 13. (a) The pension portion (plus postretirement increases to...

5-10.3-8-14. Retirement Medical Benefits Account - Sec. 14. (a) Except as provided in subsection (d), this...

5-10.3-8-15. Allocation of Benefits; Distribution of Death Benefit - Sec. 15. (a) The board may adopt rules to allow...

Chapter 9. Administration of Other Retirement Plans

5-10.3-9-1. Petitions; Requisites - Sec. 1. Petition for Administration. (a) The members of a...

5-10.3-9-2. Actuarial Investigation; Audit of Accounts - Sec. 2. Actuarial Investigation and Audit of Accounts. After the...

5-10.3-9-3. Administration by Board - Sec. 3. Administration by the Board. After reviewing the actuarial...

5-10.3-9-4. Advisory Board - Sec. 4. Advisory Board. The board of trustees or administrators...

5-10.3-9-5. Repealed - As added by Acts 1977, P.L.53, SEC.3. Repealed by P.L.115-2009,...

5-10.3-9-6. Investments - Sec. 6. Investments. All investments made after the transfer shall...

5-10.3-9-7. Separate Records - Sec. 7. Separate Records. The board shall keep separate detailed...

5-10.3-9-8. Limited Liability - Sec. 8. Limited Liability. The liabilities of a retirement system...

Chapter 10. Construction of Codification

5-10.3-10-1. Purpose - Sec. 1. Purpose of Codification. This article is intended to...

5-10.3-10-2. Headings - Sec. 2. Headings. The headings prefixed to sections of this...

Chapter 11. Pension Relief Fund

5-10.3-11-0.3. Repealed - As added by P.L.220-2011, SEC.83. Repealed by P.L.6-2012, SEC.29.

5-10.3-11-1. Creation; Administration; Revenues - Sec. 1. There is created within the public employees' retirement...

5-10.3-11-2. Powers and Duties of State Board - Sec. 2. The state board shall: (1) make payments from...

5-10.3-11-3. Payments to Units of Local Government; Restriction - Sec. 3. The pension relief fund may be used only...

5-10.3-11-4. Certification of Information to State Board; Determination of Total Pension Payments - Sec. 4. (a) Monies from the pension relief fund shall...

5-10.3-11-4.5. Repealed - As added by P.L.47-1988, SEC.1. Amended by P.L.55-1989, SEC.24; P.L.1-1994,...

5-10.3-11-4.7. Distributions to Units of Local Government - Sec. 4.7. (a) In 2009 and each year thereafter, the...

5-10.3-11-5. Annual Report - Sec. 5. At least annually the state board shall report...

5-10.3-11-6. Separate Accounts - Sec. 6. (a) The state board shall maintain separate accounts...

Chapter 12. Public Employees' Defined Contribution Plan

5-10.3-12-1. Applicability of Chapter - Sec. 1. (a) Except as otherwise provided in this section,...

5-10.3-12-2. "Account" - Sec. 2. As used in this chapter, "account" means the...

5-10.3-12-3. "Annuity Savings Account" - Sec. 3. As used in this chapter, "annuity savings account"...

5-10.3-12-4. "Board" - Sec. 4. As used in this chapter, "board" has the...

5-10.3-12-5. "Compensation" - Sec. 5. As used in this chapter, "compensation" has the...

5-10.3-12-6. "Dies in the Line of Duty" - Sec. 6. As used in this chapter, "dies in the...

5-10.3-12-7. "Effective Date" - Sec. 7. As used in this chapter, "effective date" means...

5-10.3-12-7.5. "Employees of the State" - Sec. 7.5. As used in this chapter, "employees of the...

5-10.3-12-8. "Employer" - Sec. 8. As used in this chapter, "employer" means the...

5-10.3-12-9. "Employer Contribution Subaccount" - Sec. 9. As used in this chapter, "employer contribution subaccount"...

5-10.3-12-10. "Fund" - Sec. 10. As used in this chapter, "fund" has the...

5-10.3-12-11. "Internal Revenue Code" - Sec. 11. As used in this chapter, "Internal Revenue Code"...

5-10.3-12-12. "Member" - Sec. 12. As used in this chapter, "member" means an...

5-10.3-12-13. "Member Contribution Account" - Sec. 13. As used in this chapter, "member contribution subaccount"...

5-10.3-12-14. "Normal Retirement Age" - Sec. 14. As used in this chapter, "normal retirement age"...

5-10.3-12-14.5. "Participating Political Subdivision" - Sec. 14.5. As used in this chapter, "participating political subdivision"...

5-10.3-12-15. "Plan" - Sec. 15. As used in this chapter, "plan" refers to...

5-10.3-12-15.5. "Volunteer Fire Department" - Sec. 15.5. As used in this chapter, "volunteer fire department"...

5-10.3-12-16. "Years of Participation" - Sec. 16. As used in this chapter, "years of participation"...

5-10.3-12-17. Applicability of Other Laws - Sec. 17. Except as otherwise provided in this chapter or...

5-10.3-12-18. Establishment and Administration of Plan; Internal Revenue Service Approval - Sec. 18. (a) The public employees' defined contribution plan is...

5-10.3-12-19. Authorization to Request Internal Revenue Service Rulings or Determination Letters - Sec. 19. The board may request from the Internal Revenue...

5-10.3-12-20. Plan Membership; Election; Fund Membership - Sec. 20. (a) This section applies only to an individual...

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:...

5-10.3-12-20.5. Election by Employee of Political Subdivision to Become Plan Member; Failure to Make Election - Sec. 20.5. (a) This section applies to an individual described...

5-10.3-12-21. Plan; Member Accounts; Rollover Accounts - Sec. 21. (a) The plan consists of the following: (1)...

5-10.3-12-22. Alternative Investment Programs; Stable Value Fund Program; Requirements and Rules; Administrative Fees - Sec. 22. (a) Subject to the board obtaining the approval...

5-10.3-12-23. Member Required Contributions; Additional Contributions; Crediting; Employer Pick-Up and Payment - Sec. 23. (a) This section does not apply to a...

5-10.3-12-24. State Employer Contribution; Contribution Rate Determination; Minimum Rate; Amounts Credited; Electronic Submission of Contributions - Sec. 24. (a) The state shall make employer contributions to...

5-10.3-12-24.5. Political Subdivision Employer Contribution; Contribution Rate Determination; Amounts Credited; Electronic Submission of Contributions - Sec. 24.5. (a) This section does not apply to a...

5-10.3-12-24.7. Political Subdivision Contributions; Members of a Volunteer Fire Department - Sec. 24.7. (a) This section applies to a participating political...

5-10.3-12-25. Member Contributions Belong to Member; Vesting Schedule for Employer Contributions; Forfeiture of Amounts Not Vested - Sec. 25. (a) Member contributions and net earnings on the...

5-10.3-12-26. Member Accounts; Withdrawals; Forms of Payment - Sec. 26. (a) After December 31, 2020, subject to the...

5-10.3-12-27. Member Accounts; Beneficiary or Survivor Withdrawals; Forms of Payment - Sec. 27. (a) If a member dies: (1) while in...

5-10.3-12-28. Plan Exempt From Legal Process; Assignment of Payments - Sec. 28. (a) All assets in the plan are exempt...

5-10.3-12-29. Rollover Contributions; Rollover Accounts - Sec. 29. (a) To the extent permitted by the Internal...

5-10.3-12-30. Member Accounts; Disability Withdrawals; Forms of Payment - Sec. 30. (a) If a member becomes disabled while in...

5-10.3-12-31. Effect of Reemployment on Plan Participation - Sec. 31. (a) If a member of the plan separates...

5-10.3-12-32. Election by State or Participating Political Subdivision to Allow Plan Participation by Retired Reemployed Fund Members - Sec. 32. (a) Notwithstanding section 20 and section 31(b) of...

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Indiana Code Title 5. State and Local Administration Article 10.3. The Public Employees' Retirement Fund

Indiana Code
Title 5. State and Local Administration
Article 10.3. The Public Employees' Retirement Fund