reglab/housing_qa huggingface dataset:
IN Code § 5-10.2-2-13 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-13. Custodial Agreements for Securities; Servicing of Mortgages; Securities Lending Program

Sec. 13. (a) The board may enter into a custodial agreement with a trust company or state or national bank to provide for the custody and servicing of the securities and other investments under the control of the board.(b) The agreement may contain such terms as the board considers desirable including:(1) the custody, safeguarding or indemnity, servicing, handling and delivery of the securities and other investments; and(2) the payment of taxes, fees of the custodian, and other expenses and payments required in connection with the securities and investments.(c) Any person, firm, limited liability company, or corporation authorized to service mortgage loans guaranteed by the federal housing administration may be authorized by the board to service a mortgage loan held by the fund.(d) The board may authorize its custodian to enter into a securities lending program agreement, under which the securities held by each fund may be loaned in order to provide revenue to the fund. Such an agreement must require that collateral be pledged in excess of the total market value of the loaned securities.As added by Acts 1977, P.L.53, SEC.2. Amended by Acts 1980, P.L.28, SEC.3; P.L.8-1993, SEC.55; P.L.35-2012, SEC.38.
IN Code § 5-10.2-2-14 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-14. Transfer of Benefits to Financial Institutions; Rollover

Sec. 14. (a) Upon written authorization of a retired member or a retired member's survivor or beneficiary, each fund may satisfy a claim for benefits by directly depositing the amount of the benefits payable to the retired member's or the survivor's or beneficiary's account in any state or federal chartered financial institution (as defined in IC 28-1-1-3(1)).(b) All forms and accounting procedures for implementing subsection (a) must be approved by the state board of accounts, and any contract or agreement between a fund and a state or federal chartered financial institution (as defined in IC 28-1-1-3(1)) must be approved by the attorney general and the governor.(c) Notwithstanding any other provision of the retirement fund law, to the extent required by Internal Revenue Code Section 401(a)(31), as added by the Unemployment Compensation Amendments of 1992 (P.L.102-318), and any amendments and regulations related to Section 401(a)(31), each retirement fund shall allow participants and qualified beneficiaries to elect a direct rollover of eligible distributions to another eligible retirement plan.As added by Acts 1979, P.L.35, SEC.1. Amended by P.L.10-1993, SEC.3; P.L.42-1993, SEC.2; P.L.1-1994, SEC.18.
IN Code § 5-10.2-2-22 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-22. Retirement Plans Offered by Miscellaneous Participating Entity That Withdraws From or Freezes Participation in Public Employees' Retirement Fund

Sec. 22. (a) This section applies to a miscellaneous participating entity that:(1) either:(A) withdraws from the public employees' retirement fund under section 20 of this chapter; or(B) freezes its participation in the public employees' retirement fund as described in section 21 of this chapter; and(2) chooses thereafter to offer a retirement plan to its employees.(b) Except as provided in subsection (c), a miscellaneous participating entity 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 miscellaneous participating entity 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 miscellaneous participating entity may continue to participate in the defined contribution plan in which the miscellaneous participating entity participated on July 1, 2015.As added by P.L.241-2015, SEC.7.
IN Code § 5-10.2-2-23 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-23. Election or Discretionary Action by Branch of State Government

Sec. 23. If any provision of this article, IC 5-10.3, or IC 5-10.4 allows the state as an employer to make an election or take discretionary action, the election or discretionary action shall be taken by the following entities, as applicable:(1) The governor, if the election or discretionary action involves an elected officer, appointed officer, or employee of the executive branch.(2) The legislative council, if the election or discretionary action involves a senator, a representative, or an employee of the legislative branch.(3) The chief justice of the supreme court, if the election or discretionary action involves:(A) a justice;(B) a judge;(C) a prosecuting attorney;(D) an officer paid by the state under IC 33-23-5-10, IC 33-38-5-7, or IC 33-39-6-2; or(E) an employee of the judicial branch of state government.As added by P.L.241-2015, SEC.8.
IN Code § 5-10.2-2-24 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-24. Transition From Guaranteed Program to Stable Value Fund Program

Sec. 24. (a) After December 31, 2016, a member may not make contributions to the guaranteed program.(b) For those members who as of December 31, 2016, have designated the guaranteed program as the investment program to receive all or part of the contributions to the member's annuity savings account, the board shall designate as a substitute one (1) or more alternative investment programs that are to receive those contributions after December 31, 2016. The designation by the board of an alternative investment program to receive a member's contributions under this subsection remains in effect until the member makes another allowable designation.(c) After December 31, 2016, if a member has allocated all or part of the amount credited to the member to the guaranteed program, the board shall exchange the amount allocated to the guaranteed program by the member for an equivalent market value allocation to the stable value fund.(d) The board shall eliminate the guaranteed program on January 1, 2017.(e) After December 31, 2016, a member may allocate contributions and money invested in the alternative investment program to the stable value fund.As added by P.L.193-2016, SEC.8.
IN Code § 5-10.2-3-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-2. Members' Contributions; Employers Picking Up

Sec. 2. (a) Subject to IC 5-10.2-2-1.5, as used in this section, "compensation" means:(1) the basic salary earned by and paid to the member; plus(2) the amount that would have been a part of the basic salary earned and paid except for the member's salary reduction agreement established under Section 125, 403(b), or 457 of the Internal Revenue Code.(b) Except in cases where:(1) the contribution is made on behalf of the member; or(2) a retired member may not make contributions during a period of reemployment as provided in IC 5-10.2-4-8(e);each member shall, as a condition of employment, contribute to the fund three percent (3%) of the member's compensation.(c) Except as provided in IC 5-10.2-4-8(e), a member of a fund may make contributions to the member's annuity savings account in addition to the contributions required under subsection (b). The total amount of contributions that may be made to a member's annuity savings account with respect to a payroll period under this subsection may not exceed ten percent (10%) of the member's compensation for that payroll period. The contributions made under this subsection may be picked-up and paid by an employer as provided in subsection (d).(d) In compliance with rules adopted by the board, an employer, under Section 414(h)(2) of the Internal Revenue Code, may pick-up and pay the contributions under subsection (c), subject to approval of the board and to the board's receipt of a favorable private letter ruling from the Internal Revenue Service. The employer shall reduce the member's compensation by an amount equal to the amount of the member's contributions under subsection (c) that are picked-up by the employer. The board shall by rule establish the procedural requirements for employers to carry out the pick-up in compliance with Section 414(h)(2) of the Internal Revenue Code.(e) A member's contributions and interest credits belong to the member and do not belong to the state or political subdivision.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.35-1985, SEC.8; P.L.55-1989, SEC.13; P.L.53-2000, SEC.1; P.L.246-2001, SEC.4; P.L.72-2007, SEC.3; P.L.1-2009, SEC.18; P.L.35-2012, SEC.40; P.L.195-2013, SEC.4.
IN Code § 5-10.2-3-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-3. Deduction of Contributions

Sec. 3. (a) This section:(1) does not apply to a retired member who begins a period of reemployment in a covered position more than thirty (30) days after the member's retirement, except as provided in subdivision (2); or(2) applies to the entire period of reemployment for a retired member of the public employees' retirement fund who, before July 1, 2013, begins a period of reemployment in a covered position.(b) Members' contributions, other than members' contributions paid on behalf of a member, shall be deducted from their compensation even if the net compensation to the member is less than the statutory minimum.(c) The payment of a member's compensation minus the deduction constitutes a complete discharge of all claims for services rendered by the member during the period covered by the payment, except the claim for benefits under this article.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.41-1983, SEC.5; P.L.35-1985, SEC.9; P.L.72-2007, SEC.4; P.L.76-2008, SEC.1; P.L.195-2013, SEC.5.
IN Code § 5-10.2-3-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-5. Suspension of Membership

Sec. 5. (a) A member may suspend the member's membership in the applicable fund if the member terminates employment and is not currently employed in a covered position with the applicable fund.(b) After five (5) continuous years in which the member performs no service, the member's membership shall be automatically suspended by the board unless the member has vested status.(c) A member retains the member's creditable service for the period of employment before the suspension of membership, but only to the extent that the same period of employment is not being used by another governmental plan for purposes of the member's benefit in the other governmental plan.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.22-1998, SEC.4; P.L.195-1999, SEC.11; P.L.165-2009, SEC.5; P.L.193-2016, SEC.9; P.L.179-2018, SEC.6.
IN Code § 5-10.2-3-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-6. Withdrawal of Contributions; Treatment of Suspended Member's Account

Sec. 6. (a) After a member is suspended under section 5 of this chapter, the member is entitled to withdraw in a lump sum all or part of the amount of the member's contributions plus interest credited to the member.(b) Except as provided in subsection (d), the suspended member's money is to remain in the stable value fund or the alternative investment program as the money was allocated on the day the member was suspended until:(1) the suspended member changes the allocation of the money among the stable value fund and the alternative investment program;(2) the suspended member withdraws the money from the fund; or(3) the fund is otherwise required to distribute the money.Any earnings or losses on the money shall be credited to the member in the same manner as if the member's membership was not suspended.(c) The board may charge a reasonable annual administrative fee against the money held in the annuity savings account of a suspended member.(d) If:(1) a member is suspended under section 5 of this chapter;(2) the member has not attained vested status in the fund; and(3) the value of the member's annuity savings account is not more than one thousand dollars ($1,000);the board may pay the member's annuity savings account only in a lump sum.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.25-1994, SEC.3; P.L.2-1995, SEC.15; P.L.195-1999, SEC.12; P.L.193-2016, SEC.10; P.L.27-2019, SEC.1.
IN Code § 5-10.2-3-6.2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-6.2. Withdrawal of Contributions to Purchase Creditable Service in Another Governmental Retirement Plan

Sec. 6.2. (a) This section applies to a member of the Indiana state teachers' retirement fund.(b) A member who:(1) has attained vested status in the fund;(2) has terminated employment;(3) has not begun receiving benefits; and(4) is transferring creditable service earned under TRF to another governmental retirement plan under section 1(i) of this chapter;may suspend the member's membership and withdraw the member's annuity savings account to purchase creditable service in the other governmental retirement plan.As added by P.L.61-2002, SEC.4. Amended by P.L.115-2008, SEC.7.
IN Code § 5-10.2-3-6.3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-6.3. Suspension of Membership; Transfer of Amount in Annuity Savings Account to Purchase Service Credit in Sheriff's Pension Trust

Sec. 6.3. (a) Notwithstanding any other provision in this article, IC 5-10.3, or IC 5-10.4, a member who:(1) has not attained vested status in the fund;(2) is not an active participant in the fund; and(3) is an active participant in a retirement plan established under IC 36-8-10-12;may suspend membership in the fund and transfer the entire amount in the member's annuity savings account in accordance with the member's purchase of service credit under IC 36-8-10-12.5.(b) A member who makes a transfer under IC 36-8-10-12.5 from the member's annuity savings account shall provide notice of the transfer on a form provided by the board.(c) A transfer under IC 36-8-10-12.5 is irrevocable.(d) A member who makes a transfer under this section waives all credit for service in the fund.As added by P.L.98-2009, SEC.1.
IN Code § 5-10.2-3-7.6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-7.6. Survivor Benefits of Member With 30 Years Creditable Service

Sec. 7.6. (a) This section applies to the surviving spouse and the surviving dependent of a member who:(1) dies after June 30, 1996, and before July 1, 2018;(2) has at least thirty (30) years of creditable service; and(3) dies in service in a position covered by the fund.(b) If a member described in subsection (a) dies with a surviving spouse who was married to the member for at least two (2) years, the board may determine that the surviving spouse is entitled to a survivor benefit equal to the monthly benefit that would have been payable to the spouse under the joint and survivor option of IC 5-10.2-4-7 upon the member's death following retirement at:(1) fifty-five (55) years of age; or(2) the actual date of death;whichever is later. However, benefits payable under this section are subject to section 7.5(g) and 7.5(i) of this chapter.(c) If a member described in subsection (a) dies without a surviving spouse who was married to the member for at least two (2) years, but with a surviving dependent, the board may determine that the surviving dependent is entitled to a survivor benefit in a monthly amount equal to the actuarial equivalent of the monthly benefit that would have been payable to the spouse (assuming the spouse would have had the same birth date as the member) under the joint and survivor option of IC 5-10.2-4-7 upon the member's death following retirement at:(1) fifty-five (55) years of age; or(2) the actual date of death;whichever is later. If there are two (2) or more surviving dependents, the actuarial equivalent of the benefit described in this subsection shall be calculated and, considering the dependents' attained ages, an equal dollar amount shall be determined as the monthly benefit to be paid to each dependent. Monthly benefits under this subsection are payable until the date the dependent becomes eighteen (18) years of age or dies, whichever is earlier. However, if a dependent has a permanent and total disability (using disability guidelines established by the Social Security Administration) on the date the dependent becomes eighteen (18) years of age, the monthly benefit is payable until the date the dependent no longer has a disability (using disability guidelines established by the Social Security Administration) or dies, whichever is earlier. Benefits payable under this section are subject to section 7.5(g) and 7.5(i) of this chapter.As added by P.L.35-1996, SEC.2. Amended by P.L.99-2007, SEC.16; P.L.113-2009, SEC.2; P.L.199-2019, SEC.2.
IN Code § 5-10.2-3-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-8. Survivor Benefits; Death While Not in Service

Sec. 8. (a) If a member dies:(1) after March 31, 1990, and before July 1, 2018;(2) while not in service in a position covered by the retirement fund; and(3) while eligible to receive retirement or disability benefits under IC 5-10.2-4-6, but before applying for those benefits;the member's surviving spouse or surviving dependent is entitled to survivor benefits in the same amount and under the same conditions as provided in section 7.5 of this chapter.(b) If a member dies:(1) after June 30, 2018; and(2) while eligible to receive retirement or disability benefits under IC 5-10.2-4-6, but before applying for those benefits;regardless of whether the member dies in service in a position covered by the retirement fund or out of service, the member's surviving spouse or surviving dependent is entitled to survivor benefits in the same amount and under the same conditions as provided in section 7.5 of this chapter.(c) Except as otherwise provided in section 7.5 of this chapter, if a member dies while not in service and while not eligible for retirement or disability retirement, the sum payable upon suspension of membership shall be paid to the member's surviving designated beneficiary or to the member's estate if no beneficiary is designated.(d) The sums specified in subsections (a), (b), and (c) shall be forfeited and credited to the member's retirement fund if no beneficiary or other person entitled to the money under subsection (a), (b), or (c) claims it within three (3) years after the member's death. However, the board may honor a claim made more than three (3) years after the member's death if the board finds, in the board's discretion, that:(1) the member died after August 31, 1992; and(2) either:(A) the delay in making the claim was reasonable; or(B) other extenuating circumstances justify the award of the benefit to the claimant.(e) Survivor benefits payable under this section shall be reduced by any disability benefits paid to the member under the same conditions as provided in section 7.5 of this chapter.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.35-1985, SEC.11; P.L.55-1989, SEC.15; P.L.4-1990, SEC.6; P.L.56-1993, SEC.1; P.L.22-1993, SEC.2; P.L.119-2006, SEC.1; P.L.199-2019, SEC.3.
IN Code § 5-10.2-3-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-9. Survivor Benefits; Death After July 1, 1991, While Eligible for Retirement Benefits

Sec. 9. (a) This section applies if the following conditions are met. A member dies:(1) after July 1, 1991; and(2) while receiving or while eligible to receive retirement benefits under IC 5-10.2-4-1 from the fund.(b) As used in this section, "minimum amount" means the entire amount credited to the member's annuity savings account at the time of:(1) retirement; or(2) death while entitled to retirement benefits;minus all benefits paid to the member and the member's survivors.(c) If the member dies without a survivor entitled to benefits and the member has not received payments equal to or more than the minimum amount, the difference shall be paid in a lump sum to the member's designated beneficiary or beneficiaries in equal shares. If the member dies without a surviving designated beneficiary, the difference shall be paid in a lump sum to the member's estate.(d) If the member dies with a survivor entitled to benefits, no payment under this section shall be calculated until after all survivors die. If, at the time of death of the last survivor, the member and all survivors have not received payments equal to or more than the minimum amount, the difference shall be paid in a lump sum to the survivor's estate.(e) The minimum benefit provided in this section shall not apply to an election under IC 5-10.2-4-7(g).As added by P.L.43-1991, SEC.3. Amended by P.L.51-2020, SEC.3.
IN Code § 5-10.2-3-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 3. Creditable Service; Contributions; Withdrawals; Death Settlements|5-10.2-3-10. Rollover Distributions

Sec. 10. (a) To the extent permitted by the Internal Revenue Code and the applicable regulations, the fund 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 annuity savings account.(c) A member may direct the investment of the member's rollover account into the stable value fund or any alternative investment option that the board may make available to the member's rollover account under IC 5-10.2-2-3.(d) A member may withdraw the member's rollover account from the fund in a lump sum at any time before retirement. At retirement, the member may withdraw the member's rollover account in accordance with the retirement options that are available for the member's annuity savings account, including the deferral of a withdrawal.As added by P.L.61-2002, SEC.5. Amended by P.L.193-2016, SEC.11; P.L.179-2018, SEC.8.