reglab/housing_qa huggingface dataset:
IN Code § 5-10.4-8-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 8. Teachers' Defined Contribution Plan|5-10.4-8-10. Contribution Rates

Sec. 10. (a) An employer shall make employer contributions to the plan based on the rate determined under this section.(b) The employer's contribution rate for the plan must be equal to the employer's contribution rate for the fund as determined by the board under IC 5-10.2-2-11(b). The amount credited from the employer's contribution rate to the member's account shall be the normal cost of the fund. Any amount not credited to the member's account must be applied to the unfunded accrued liability of the fund as determined under IC 5-10.2-2-11(c).(c) Notwithstanding subsection (b), an employer's minimum contribution under this section is equal to three percent (3%) of the compensation of all members of the plan.(d) An employer shall submit the employer contributions determined under this section as provided in IC 5-10.2-2-12.5.As added by P.L.217-2017, SEC.58.
IN Code § 5-10.4-8-11 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 8. Teachers' Defined Contribution Plan|5-10.4-8-11. Contributions and Earnings Belong to Member; Vesting in Employer Contribution Subaccount; Forfeiture of Employer Contributions

Sec. 11. (a) Member contributions and net earnings on the member contributions in the member contribution subaccount belong to the member at all times and do not belong to the employer.(b) A member is vested in the employer contribution subaccount in accordance with the following schedule:
IN Code § 5-10.4-8-12 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 8. Teachers' Defined Contribution Plan|5-10.4-8-12. Withdrawals From Member Account

Sec. 12. (a) After December 31, 2020, subject to the provisions of the Internal Revenue Code applicable to qualified plan distributions, a member who terminates service in a covered position is entitled to withdraw all or part of the amounts in the member's account to the extent the member is vested in the account. A member must make a required withdrawal from the member's account not later than the required beginning date under the Internal Revenue Code.(b) A member may elect to have withdrawals paid as:(1) a lump sum;(2) a direct rollover to another eligible retirement plan; or(3) if the member has attained normal retirement age, a monthly annuity in accordance with the rules of the board.(c) The board may establish a minimum account balance or a minimum monthly payment amount in order for a member to select the monthly annuity option. The board shall establish the forms of annuity by rule, in consultation with the board's actuary. The board shall give members information about these forms of payment and any information required by federal law to accompany such distributions.(d) Unless otherwise required by federal or state law, the requirements and rules that apply to the distribution of the annuity savings account apply to distributions from a member's account.(e) Subject to the Pension Protection Act of 2006 and notwithstanding any state law, after December 31, 2020, an active member who:(1) reaches normal retirement age; and(2) has attained vested status in the fund;may withdraw all or part of the amount in the member's account without separating from a covered position.As added by P.L.217-2017, SEC.58. Amended by P.L.27-2019, SEC.15; P.L.51-2020, SEC.6.
IN Code § 5-10.4-8-13 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 8. Teachers' Defined Contribution Plan|5-10.4-8-13. Member Death; Payment to Beneficiaries

Sec. 13. (a) If a member dies:(1) while in service in a position covered by the plan; or(2) after terminating service in a position covered by the plan but before withdrawing the member's account;to the extent that the member is vested, the member's account shall be paid to the beneficiary or beneficiaries designated by the member on a form prescribed by the board. The amount paid must be valued as provided in IC 5-10.2-2-3. The board shall invest the total amount in the member's account in the stable value fund not later than thirty (30) days after receiving notification of a member's death.(b) If there is no properly designated beneficiary, or if no beneficiary survives the member, the member's account shall be paid to:(1) the surviving spouse of the member;(2) if there is not a surviving spouse, the surviving dependent or dependents of the member in equal shares; or(3) if there is not a surviving spouse or dependent, the member's estate.(c) The beneficiary or beneficiaries designated under subsection (a) or a survivor determined under subsection (b) may elect to have the member's account paid as:(1) a lump sum;(2) a direct rollover to another eligible retirement plan; or(3) a monthly annuity in accordance with rules of the board.A monthly annuity is an option only on or after the date the beneficiary or survivor becomes sixty-two (62) years of age. The board shall establish the forms of annuity by rule, in consultation with the board's actuary. Further, the board may establish a minimum account balance or a minimum monthly payment amount that is required in order for a beneficiary or survivor to select the monthly annuity option.As added by P.L.217-2017, SEC.58.
IN Code § 5-10.4-8-14 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 8. Teachers' Defined Contribution Plan|5-10.4-8-14. Assets of Plan Exempt From Levy, Sale, Garnishment, Attachment, or Other Legal Process; Limited Assignment by Member

Sec. 14. (a) All assets in the plan are exempt from levy, sale, garnishment, attachment, or other legal process.(b) A member, beneficiary, or survivor may not assign any payment under this chapter except for the following:(1) Premiums on a life, hospitalization, surgical, or medical group insurance plan maintained in part by a state agency.(2) Dues to an association that proves to the board's satisfaction that the association has as members at least twenty percent (20%) of the retired members in the plan.As added by P.L.217-2017, SEC.58.
IN Code § 5-10.4-8-15 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 8. Teachers' Defined Contribution Plan|5-10.4-8-15. Rollovers

Sec. 15. (a) To the extent permitted by the Internal Revenue Code and the applicable regulations and guidance, the plan may accept, on behalf of any member, a rollover distribution from any of the following:(1) A qualified plan described in Section 401(a) or Section 403(a) of the Internal Revenue Code.(2) An annuity contract or account described in Section 403(b) of the Internal Revenue Code.(3) An eligible plan maintained by a state, a political subdivision of a state, or an agency or instrumentality of a state or political subdivision of a state under Section 457(b) of the Internal Revenue Code.(4) An individual retirement account or annuity described in Section 408(a) or Section 408(b) of the Internal Revenue Code.(b) Any amounts rolled over under subsection (a) must be accounted for in a rollover account that is separate from the member's account in the plan. The member is fully vested in the member's rollover account.(c) A member may direct the investment of the member's rollover account into any alternative investment option that the board may make available to the member's rollover account under section 8 of this chapter.(d) A member may withdraw all or part of the member's rollover account from the plan in a lump sum or direct a rollover to an eligible retirement plan at any time. Upon attainment of normal retirement age, in addition to these payment options, the member may withdraw the member's rollover account as a monthly annuity as established by the board in accordance with the annuity options that are available for the member's account in the plan. A member shall make a required withdrawal from the member's account in the plan not later than the required beginning date under the Internal Revenue Code.As added by P.L.217-2017, SEC.58. Amended by P.L.179-2018, SEC.11; P.L.27-2019, SEC.16.
IN Code § 5-10.4-8-16 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 8. Teachers' Defined Contribution Plan|5-10.4-8-16. Member Disability

Sec. 16. (a) If a member becomes disabled while in a covered position, subject to any federal law limitations concerning qualified plan distributions and the member furnishing proof of the member's qualification for Social Security disability benefits to the board, to the extent that the member is vested, the member may make a full or partial withdrawal from the member's account.(b) The member may elect to have the withdrawal paid as:(1) a lump sum;(2) a direct rollover to another eligible retirement plan; or(3) a monthly annuity in accordance with the rules of the board.(c) The board may establish a minimum account balance or a minimum monthly payment amount in order for a member to select the monthly annuity option.As added by P.L.217-2017, SEC.58. Amended by P.L.27-2019, SEC.17.
IN Code § 5-10.4-8-17 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 8. Teachers' Defined Contribution Plan|5-10.4-8-17. Resuming Membership; Second Election Not Allowed

Sec. 17. (a) If a member of the plan separates from employment with the member's employer and later returns to employment in a position covered by the plan:(1) the individual resumes membership in the plan; and(2) the member is entitled to receive credit for the member's years of participation in the plan before the member's separation.(b) An individual who elected under section 6 of this chapter to become a member of the plan resumes membership in the plan upon the individual's return to employment covered by the plan.(c) An individual who did not elect to become a member of the plan resumes membership in the fund.(d) An individual who returns to employment in a position covered by the plan having had an opportunity to make an election under section 6 of this chapter during an earlier period of employment is not entitled to a second opportunity to make an election under section 6 of this chapter.As added by P.L.217-2017, SEC.58.
IN Code § 5-10.4-9-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 9. Participation by School Corporations in the Defined Contribution Plan|5-10.4-9-1. Definitions

Sec. 1. The following definitions apply throughout this chapter:(1) "Account" has the meaning set forth in IC 5-10.4-8-2.(2) "Plan" has the meaning set forth in IC 5-10.4-8-2.As added by P.L.217-2017, SEC.59. Amended by P.L.27-2019, SEC.18.
IN Code § 5-10.4-9-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 9. Participation by School Corporations in the Defined Contribution Plan|5-10.4-9-2. School Corporation Plan Participation Declared

Sec. 2. On the effective date of the plan, a school corporation becomes a participant in the plan.As added by P.L.217-2017, SEC.59.
IN Code § 5-10.4-9-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 9. Participation by School Corporations in the Defined Contribution Plan|5-10.4-9-3. Governing Body Actions

Sec. 3. After a school corporation becomes a participant in the plan, its governing body may make appropriations, make payments, and do all things required under IC 5-10.4-8.As added by P.L.217-2017, SEC.59.
IN Code § 5-10.4-9-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 9. Participation by School Corporations in the Defined Contribution Plan|5-10.4-9-4. Separate Accounts for Each Contribution Rate Group

Sec. 4. The board shall maintain separate accounts for each contribution rate group. Credits and charges to these accounts shall be made as prescribed under IC 5-10.4-8.As added by P.L.217-2017, SEC.59.
IN Code § 5-10.4-9-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 9. Participation by School Corporations in the Defined Contribution Plan|5-10.4-9-5. School Corporation Appropriations and Payments From School General Fund

Sec. 5. A school corporation shall make the appropriations and payments required under this article and IC 5-10.2 from its education fund or operations fund in accordance with the categories of expenditures established under IC 20-42.5-3.As added by P.L.217-2017, SEC.59. Amended by P.L.238-2019, SEC.7.
IN Code § 5-10.4-9-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.4. State Teachers' Retirement Fund|Chapter 9. Participation by School Corporations in the Defined Contribution Plan|5-10.4-9-6. Withholding Money From or Suing a School Corporation That Fails to Make Payments to the Plan

Sec. 6. If a school corporation fails to make payments required by this chapter, the amount payable may be:(1) withheld by the auditor of state from money payable to the school corporation and transferred to the plan; or(2) recovered in a suit in the circuit or superior court of the county in which the school corporation is located. The suit must be an action by the state on the relation of the board, prosecuted by the attorney general.As added by P.L.217-2017, SEC.59.
IN Code § 5-10.5-1-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 1. Definitions|5-10.5-1-1. Application

Sec. 1. The definitions in this chapter apply throughout this article.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-1-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 1. Definitions|5-10.5-1-2. "Board"

Sec. 2. "Board" refers to the board of trustees of the system established by IC 5-10.5-3-1.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-1-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 1. Definitions|5-10.5-1-3. "Director"

Sec. 3. "Director" refers to the director of the system.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-1-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 1. Definitions|5-10.5-1-4. "Public Employees' Retirement Fund"

Sec. 4. "Public employees' retirement fund" means the public employees' retirement fund established under IC 5-10.2 and IC 5-10.3.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-1-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 1. Definitions|5-10.5-1-5. "Public Pension and Retirement Funds of the System"

Sec. 5. "Public pension and retirement funds of the system" means the public pension and retirement funds listed in IC 5-10.5-2-2.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-1-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 1. Definitions|5-10.5-1-6. "System"

Sec. 6. "System" refers to the Indiana public retirement system established by IC 5-10.5-2-1.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-1-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 1. Definitions|5-10.5-1-7. "Teachers' Retirement Fund"

Sec. 7. "Teachers' retirement fund" means the Indiana state teachers' retirement fund established under IC 5-10.2 and IC 5-10.4.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-2-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 2. Indiana Public Retirement System|5-10.5-2-1. System Established

Sec. 1. On July 1, 2011, the Indiana public retirement system is established.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-2-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 2. Indiana Public Retirement System|5-10.5-2-2. Funds Comprising the System

Sec. 2. The system consists of the following public pension or retirement funds:(1) The public employees' retirement fund established under IC 5-10.2 and IC 5-10.3.(2) The public employees' defined contribution plan established under IC 5-10.3-12.(3) The Indiana state teachers' retirement fund established under IC 5-10.2 and IC 5-10.4.(4) The teachers' defined contribution plan established under IC 5-10.4-8.(5) The Indiana judges' retirement fund established under IC 33-38-6.(6) The prosecuting attorneys retirement fund established under IC 33-39-7.(7) The state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement fund established under IC 5-10-5.5.(8) The 1977 police officers' and firefighters' pension and disability fund established under IC 36-8-8.(9) The legislators' retirement system established under IC 2-3.5.(10) The pension relief fund established under IC 5-10.3-11.(11) The special death benefit fund established under IC 5-10-9.8.As added by P.L.23-2011, SEC.22. Amended by P.L.40-2017, SEC.17; P.L.27-2019, SEC.19.
IN Code § 5-10.5-2-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 2. Indiana Public Retirement System|5-10.5-2-3. Independent Body Corporate and Politic

Sec. 3. The system is an independent body corporate and politic. The system is not a department or agency of the state but is an independent instrumentality exercising essential government functions.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-2-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 2. Indiana Public Retirement System|5-10.5-2-4. Board, System, and Employees Are Public Employees

Sec. 4. For purposes of IC 34-13-2, IC 34-13-3, and IC 34-13-4, the board, the system, and all employees of the board or the system are public employees (as defined in IC 34-6-2-38).As added by P.L.23-2011, SEC.22. Amended by P.L.100-2012, SEC.16.
IN Code § 5-10.5-2-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 2. Indiana Public Retirement System|5-10.5-2-5. System Management and Administration

Sec. 5. The system shall be managed and administered by a board of trustees established under IC 5-10.5-3.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-2-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 2. Indiana Public Retirement System|5-10.5-2-6. Each Fund Is Separate Fund

Sec. 6. Each public pension or retirement fund listed in section 2 of this chapter is a separate fund managed by the board under this article and the retirement law applicable to the public pension or retirement fund. The obligations of the state and political subdivisions for benefit payments are specified in the retirement law applicable to each public pension or retirement fund.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-3-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 3. Board of Trustees|5-10.5-3-1. Board Established; Purpose

Sec. 1. (a) The board of trustees of the Indiana public retirement system is established.(b) The board shall manage and administer each public pension or retirement fund that comprises the system in accordance with:(1) this article; and(2) the retirement law applicable to the public pension or retirement fund.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-3-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 3. Board of Trustees|5-10.5-3-3. Term of Office

Sec. 3. (a) A trustee shall serve a term of four (4) years, beginning on July 1 following the trustee's appointment.(b) Whenever a trustee is appointed to fill a vacancy caused by death or resignation, the trustee shall serve the unexpired term of the trustee's predecessor.(c) A trustee shall serve until the trustee's successor is appointed and qualified.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-3-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 3. Board of Trustees|5-10.5-3-5. Oath of Office; Qualification for Membership

Sec. 5. (a) Each trustee shall take an oath of office. The oath must be:(1) subscribed to by the trustee making the oath;(2) certified by the officer before whom the trustee takes the oath; and(3) filed with the secretary of state.(b) A trustee is qualified for membership on the board when the trustee's oath is filed with the secretary of state.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-3-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 3. Board of Trustees|5-10.5-3-6. Expense Reimbursement

Sec. 6. (a) Each trustee is entitled to reimbursement for necessary expenses actually incurred through service on the board.(b) Trustee expenses shall be paid from fund assets.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-3-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 3. Board of Trustees|5-10.5-3-7. Officers; Election; Term of Office

Sec. 7. (a) Not later than December 31 each year, the board shall elect a chair and vice chair from its members to serve as the officers of the board.(b) An officer shall serve for one (1) year or until the officer's successor is elected and qualified.As added by P.L.23-2011, SEC.22. Amended by P.L.15-2013, SEC.6.
IN Code § 5-10.5-3-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 3. Board of Trustees|5-10.5-3-8. Meetings; Open to the Public; Record of Proceedings

Sec. 8. (a) The board shall hold regular meetings at least quarterly.(b) The board may hold special meetings:(1) at the call of the chair; or(2) with a written request signed by at least five (5) trustees.(c) The board may hold its meetings at the system's general offices or at any other place in Indiana that the board designates.(d) All meetings must be open to the public in accordance with IC 5-14-1.5.(e) The board shall keep a record of its proceedings.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-3-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 3. Board of Trustees|5-10.5-3-10. Voting; Quorum

Sec. 10. (a) Five (5) trustees constitute a quorum for the transaction of business.(b) Each trustee is entitled to one (1) vote.(c) A majority vote of the trustees present is required for the board to adopt a resolution or take other action at a regular or special meeting.As added by P.L.23-2011, SEC.22.