reglab/housing_qa huggingface dataset:
IN Code § 5-10.5-4-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 4. Board Powers and Duties|5-10.5-4-2. Powers

Sec. 2. (a) The board may do any of the following:(1) Establish and amend rules and regulations:(A) for the administration and regulation of the fund and the board's affairs; and(B) to effectuate the powers and purposes of the board;without adopting a rule under IC 4-22-2.(2) Make contracts and sue and be sued as the board of trustees of the Indiana public retirement system.(3) Delegate duties to its employees.(4) Enter into agreements with one (1) or more insurance companies to provide life, hospitalization, surgical, medical, dental, vision, long term care, or supplemental Medicare insurance, utilizing individual or group insurance policies for retired members of the fund, and, upon authorization of the respective member, deduct premium payments for such policies from the members' retirement benefits and remit the payments to the insurance companies.(5) Enter into agreements with one (1) or more insurance companies to provide annuities for retired members of the fund, and, upon a member's authorization, transfer the amount credited to the member in the annuity savings account to the insurance companies.(6) For the 1977 police officers' and firefighters' pension and disability fund, deduct from benefits paid and remit to the appropriate entities amounts authorized by IC 36-8-8-17.2.(7) Whenever the fund's membership is sufficiently large for actuarial valuation, establish an employer's contribution rate for all employers, including employers with special benefit provisions for certain employees.(8) Amortize prior service liability over a period of thirty (30) years or less.(9) Recover payments made under false or fraudulent representation.(10) Give bond for an employee for the fund's protection.(11) Receive the state's share of the cost of the pension contribution from the federal government for a member on leave of absence in order to work in a federally supported educational project.(12) Summon and examine witnesses when adjusting claims.(13) When adjusting disability claims, require medical examinations by doctors approved or appointed by the board. Not more than two (2) examinations may be conducted in one (1) year.(14) Conduct investigations to help determine the merit of a claim.(15) Meet an emergency that may arise in the administration of the board's trust.(16) Determine other matters regarding the board's trust that are not specified.(17) Exercise all powers necessary, convenient, or appropriate to carry out and effectuate its public and corporate purposes and to conduct its business.(b) This subsection does not apply to investments of the board. A contract under subsection (a)(2) may be for a term of not more than five (5) years, with an ability to renew thereafter.(c) An agreement under subsection (a)(4) may be for a duration of three (3) years.As added by P.L.23-2011, SEC.22. Amended by P.L.111-2015, SEC.5.
IN Code § 5-10.5-4-2.5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 4. Board Powers and Duties|5-10.5-4-2.5. Third Party Contracts for Annuities; Limitations

Sec. 2.5. Notwithstanding any other provision in this article, IC 5-10.2, IC 5-10.3, or IC 5-10.4, the board may not, before January 1, 2017, enter into an agreement with a third party provider to provide annuities for retiring members of:(1) the public employees' retirement fund; or(2) the teachers' retirement fund.As added by P.L.177-2014, SEC.4.
IN Code § 5-10.5-4-2.6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 4. Board Powers and Duties|5-10.5-4-2.6. Annuity Interest Rates

Sec. 2.6. (a) This subsection applies after September 30, 2014, and before January 1, 2017.The following interest rates shall be used to determine the annuity amount purchasable by a member of the public employees' retirement fund or the teachers' retirement fund who elects to receive, as part of the member's retirement or disability benefit, an annuity provided by the amount credited to the member in the member's annuity savings account:(1) After September 30, 2014, and before October 1, 2015, five and seventy-five hundredths percent (5.75%).(2) After September 30, 2015, and before January 1, 2017, the greater of:(A) the interest rate for similar annuities being purchased in the private market as determined by the board; or(B) four and one-half percent (4.5%).(b) This subsection applies after December 31, 2016, whenever the board enters into an agreement with a third party provider to provide annuities for retiring members of the public employees' retirement fund or the teachers' retirement fund. The interest rate used to determine the annuity amount purchasable by a member is equal to the rate for similar annuities being purchased in the private market as recommended by the third party provider.As added by P.L.177-2014, SEC.5.
IN Code § 5-10.5-4-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 4. Board Powers and Duties|5-10.5-4-3. Powers to Be Interpreted Broadly

Sec. 3. The board's powers as specified in this article or the retirement law applicable to a public pension or retirement fund of the system:(1) shall be interpreted broadly to accomplish the purposes of this article or the applicable retirement law; and(2) may not be construed as a limitation of powers.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-4-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 4. Board Powers and Duties|5-10.5-4-4. Direct Deposit of Benefits

Sec. 4. Members and beneficiaries of the public pension and retirement funds of the system may receive monthly benefits only by direct deposit or another method approved by the board.As added by P.L.127-2015, SEC.2.
IN Code § 5-10.5-4-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 4. Board Powers and Duties|5-10.5-4-5. Postretirement Benefit Changes; Requirement

Sec. 5. (a) This section applies to 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 Indiana state teachers' retirement fund established under IC 5-10.2 and IC 5-10.4.(3) The state excise police, gaming agent, gaming control officer, and conservation enforcement officers' retirement fund established under IC 5-10-5.5.(4) The defined benefit plan of the legislators' retirement system established under IC 2-3.5-4.(b) The board may not pay a postretirement benefit change or adjustment, including a postretirement benefit increase, thirteenth check, or other benefit change or adjustment granted by the general assembly after June 30, 2018, to members of a public pension or retirement fund listed in subsection (a), unless the change or adjustment is actuarially pre-funded.As added by P.L.127-2018, SEC.13.
IN Code § 5-10.5-4-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 4. Board Powers and Duties|5-10.5-4-6. Inprs to Submit Annual Report to the Budget Committee Concerning Post-Employment Benefits

Sec. 6. The system shall, not later than December 1 each year, submit to the budget committee the following reports concerning post-employment benefits (as defined in IC 5-10-16-5):(1) The report prepared by the system for state agencies under IC 5-10-16-7.(2) Reports received from state educational institutions under IC 21-38-3-13.As added by P.L.108-2019, SEC.97.
IN Code § 5-10.5-5-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 5. Investments|5-10.5-5-1. Investment Powers, Duties, and Limitations; Penalties

Sec. 1. The board has the powers, duties, restrictions, limitations, and penalties in connection with the board's investment and management of the assets of the public pension and retirement funds of the system under the following provisions:(1) IC 5-10.2-2-2.5.(2) IC 5-10.2-2-13.(3) IC 5-10.3-3-7.1.(4) IC 5-10.3-5-3.(5) IC 5-10.3-5-3.1.(6) IC 5-10.3-5-4.(7) IC 5-10.3-5-5.(8) IC 5-10.3-5-6.(9) IC 5-10.4-3-7.(10) IC 5-10.4-3-9.(11) IC 5-10.4-3-10.(12) IC 5-10.4-3-11.(13) IC 5-10.4-3-12.(14) IC 5-10.4-3-13.(15) IC 5-10.4-3-14.(16) IC 5-10.4-3-15.(17) IC 5-10.4-3-16.As added by P.L.23-2011, SEC.22. Amended by P.L.86-2018, SEC.19.
IN Code § 5-10.5-5-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 5. Investments|5-10.5-5-2. Transactions Subject to Internal Revenue Code Qualification Requirements

Sec. 2. The board's transactions under this chapter are subject to IC 2-3.5-3-3, IC 5-10-5.5-2.5, IC 5-10.2-2-1.5, IC 33-38-6-13, IC 33-39-7-22, and IC 36-8-8-2.5.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-6-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 6. Director; Reports and Administration|5-10.5-6-1. Director; Executive Officer; Appointment

Sec. 1. (a) The director is the executive officer of the system and is responsible for the administration of the system.(b) The director is appointed by and serves at the pleasure of the board.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-6-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 6. Director; Reports and Administration|5-10.5-6-2. Director; Duties

Sec. 2. The director shall do the following:(1) Maintain a record of the board's proceedings.(2) Keep the books and records of the system.(3) Deposit payments made to the system with the custodian for the system's accounts.(4) Sign vouchers for the payment of money from the system as authorized by the board.(5) Execute a corporate surety bond in an amount specified by the board. The premium for the bond is an administrative expense of the system.(6) Perform other duties as assigned by the board.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-6-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 6. Director; Reports and Administration|5-10.5-6-3. Fund Member Records; Requirements

Sec. 3. (a) The board shall maintain individual records for each member of a public pension or retirement fund of the system administered by the board.(b) A member's record must include at least the following information:(1) The member's name.(2) Date of birth.(3) Age at beginning service.(4) Service record.(5) Address.(6) Contributions.(7) Amounts withdrawn.(8) Benefits paid.(9) Social Security number.(10) Any other information necessary for the fund to administer the member's account.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-6-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 6. Director; Reports and Administration|5-10.5-6-4. Fund Member Records; Confidentiality; Exceptions

Sec. 4. (a) Records of:(1) individual members of; and(2) membership information concerning;a public pension or retirement fund administered by the board are confidential, except for the name and years of service of a member.(b) This section does not prohibit the board from providing fund records to an association or organization described in IC 2-3.5-4-12, IC 2-3.5-5-10, IC 5-10.3-8-10, IC 5-10.4-5-14.5, or IC 36-8-8-17.2.As added by P.L.23-2011, SEC.22. Amended by P.L.15-2013, SEC.7.
IN Code § 5-10.5-6-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 6. Director; Reports and Administration|5-10.5-6-5. Administrative Expenses; Proration

Sec. 5. (a) Each public pension and retirement fund of the system shall pay the expenses of administration attributable to that public pension or retirement fund.(b) The board shall:(1) prorate the expenses of administration of the system that cannot be attributed to a particular public pension or retirement fund and the bond of the director among; and(2) pay the prorated expenses from;the public pension and retirement funds of the system.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-6-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 6. Director; Reports and Administration|5-10.5-6-6. Report on Stress Test or Risk Assessment

Sec. 6. If during a state fiscal year beginning after June 30, 2018, the system performs a stress test or a risk assessment on any of the public pension and retirement funds of the system, including a sensitivity analysis of funding status, the director, or another suitable person designated by the director, shall before November 1 of the following state fiscal year:(1) submit a report describing the stress tests and risk assessments performed and the results of those tests and risk assessments to the interim study committee on pension management oversight established by IC 2-5-1.3-4 in an electronic format under IC 5-14-6; and(2) upon request from the chairman of the interim study committee on pension management oversight, present a summary of the information described in subdivision (1) to the interim study committee on pension management oversight.As added by P.L.20-2019, SEC.1.
IN Code § 5-10.5-6-6.5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 6. Director; Reports and Administration|5-10.5-6-6.5. Inprs to Submit Annual Report to the Interim Study Committee on Pension Management Oversight

Sec. 6.5. The system shall, not later than October 1 each year, submit to the interim study committee on pension management oversight a written report that summarizes and analyzes the retirement plan information received for the immediately preceding state fiscal year under IC 5-11-20. The report must be in an electronic format under IC 5-14-6.As added by P.L.108-2019, SEC.98.
IN Code § 5-10.5-7-1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 7. Short Title and Saving Provisions|5-10.5-7-1. Short Title

Sec. 1. This article shall be known as and may be cited as the Indiana public pension modernization act.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-7-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 7. Short Title and Saving Provisions|5-10.5-7-2. Transfer or Assumption of Tangible and Intangible Property; Transfer of Powers and Duties

Sec. 2. (a) All powers, duties, liabilities, property, equipment, records, rights, and contracts of the:(1) board of trustees of the public employees' retirement fund; and(2) board of trustees of the teachers' retirement fund;are transferred to or assumed by the board on July 1, 2011.(b) The board shall provide indemnification of:(1) the board of trustees of the public employees' retirement fund; and(2) the board of trustees of the teachers' retirement fund;as necessary or appropriate in regard to any liabilities of the public employees' retirement fund or the teachers' retirement fund assumed by the board.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-7-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 7. Short Title and Saving Provisions|5-10.5-7-3. Transfer of Fund and Account Balances

Sec. 3. Any amounts transferred under this subsection to the system that represent balances in any fund or account of the public employees' retirement fund or the teachers' retirement fund for the administration of the public pension and retirement funds administered by the public employees' retirement fund or the teachers' retirement fund before July 1, 2011, including any related services, shall be:(1) deposited in a fund or account designed by the board; and(2) used by the system for the administration of the public pension and retirement funds of the system and related services.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-7-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 7. Short Title and Saving Provisions|5-10.5-7-4. Transfer of Employees

Sec. 4. The employees of the:(1) public employees' retirement fund; and(2) teachers' retirement fund;become employees of the system on July 1, 2011, without change in compensation, seniority, or benefits. An employee of the public employees' retirement fund who is a member of the public employees' retirement fund before July 1, 2011, and becomes an employee of the system after June 30, 2011, remains a member of the public employees' retirement fund after June 30, 2011. An employee of the teachers' retirement fund who is a member of the teachers' retirement fund before July 1, 2011, and becomes an employee of the system after June 30, 2011, remains a member of the teachers' retirement fund after June 30, 2011. An employee who becomes an employee of the system after June 30, 2011, is a member of the public employees' retirement fund, unless the director expressly determines otherwise.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-7-5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 7. Short Title and Saving Provisions|5-10.5-7-5. Rules and Regulations

Sec. 5. Rules and regulations of:(1) the public employees' retirement fund; and(2) the teachers' retirement fund;in effect before July 1, 2011, are considered, after June 30, 2011, rules and regulations of the system.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-7-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 7. Short Title and Saving Provisions|5-10.5-7-6. References and Cross-References

Sec. 6. (a) Any reference or cross-reference to:(1) the board of trustees of the public employees' retirement fund; or(2) the board of trustees of the teachers' retirement fund;in the Indiana Code shall be treated after June 30, 2011, as a reference or cross-reference to the board.(b) Any reference or cross-reference to:(1) the director of the public employees' retirement fund; or(2) the director of the teachers' retirement fund;in the Indiana Code shall be treated after June 30, 2011, as a reference or cross-reference to the director.As added by P.L.23-2011, SEC.22.
IN Code § 5-10.5-7-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.5. Indiana Public Pension Modernization Act|Chapter 7. Short Title and Saving Provisions|5-10.5-7-7. Conflicts

Sec. 7. If any provision in this article conflicts with a provision in IC 5-10.2, IC 5-10.3, or IC 5-10.4, the provisions shall be read together to the extent possible with any conflict resolved in favor of the provision in this article.As added by P.L.23-2011, SEC.22.
IN Code § 5-11-1-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 11. Accounting for Public Funds|Chapter 1. State Board of Accounts Created|5-11-1-2. System of Accounting and Reporting

Sec. 2. The state board of accounts shall formulate, prescribe, and install a system of accounting and reporting in conformity with this chapter for use by an audited entity, which must comply with the following:(1) Be uniform for every public office and every public account of the same class and contain written standards that an entity that is subject to audit must observe.(2) Exhibit true accounts and detailed statements of funds collected, received, obligated, and expended for or on account of the public for any and every purpose whatever, and by all public officers, employees, or other individuals.(3) Show the receipt, use, and disposition of all public property and the income, if any, derived from the property.(4) Show all sources of public income and the amounts due and received from each source.(5) Show all receipts, vouchers, contracts, obligations, and other documents kept, or that may be required to be kept, to prove the validity of every transaction.The state board of accounts shall formulate or approve all statements and reports necessary for the internal administration of the office to which the statements and reports pertain. The state board of accounts shall approve all reports that are published or that are required to be filed in the office of state examiner. The state board of accounts shall from time to time make and enforce changes in the system and forms of accounting and reporting as necessary to conform to law.Formerly: Acts 1909, c.55, s.2; Acts 1945, c.176, s.2. As amended by Acts 1980, P.L.30, SEC.2; P.L.3-1986, SEC.8; P.L.39-1996, SEC.2; P.L.176-2009, SEC.2; P.L.157-2020, SEC.2.
IN Code § 5-11-1-3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 11. Accounting for Public Funds|Chapter 1. State Board of Accounts Created|5-11-1-3. Separate Accounts

Sec. 3. Separate accounts shall be kept for every appropriation or fund of the state or any municipality. Separate accounts shall also be kept for each department, undertaking, enterprise, institution, and public service industry.Formerly: Acts 1909, c.55, s.3. As amended by Acts 1980, P.L.30, SEC.3.
IN Code § 5-11-1-4 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 11. Accounting for Public Funds|Chapter 1. State Board of Accounts Created|5-11-1-4. Annual Report Required for Approval of Budget, Supplemental Appropriations or for Issuance of Debt

Sec. 4. (a) The state examiner shall require from every audited entity financial reports covering the full period of each fiscal year. These reports shall be prepared, verified, and filed with the state examiner not later than sixty (60) days after the close of each fiscal year. The reports must be in the form and content prescribed by the state examiner and filed electronically in the manner prescribed under IC 5-14-3.8-7.(b) The department of local government finance may not approve the budget of a political subdivision or a supplemental appropriation for a political subdivision until the political subdivision files an annual report under subsection (a) for the preceding calendar year.(c) As used in this subsection, "bonds" means any bonds, notes, or other evidences of indebtedness, whether payable from property taxes, other taxes, revenues, fees, or any other source. However, the term does not include notes, warrants, or other evidences of indebtedness that have a maturity of not more than five (5) years and that are made in anticipation of and to be paid from revenues of the political subdivision. Notwithstanding any other law, a county or municipality may not issue any bonds unless the county or municipality has filed an annual financial report with the state examiner for the preceding fiscal year. The requirements under this subsection for the issuance of bonds by a county or municipality are in addition to any other requirements imposed under any other law. This subsection applies to the issuance of bonds authorized under any statute, regardless of whether that statute specifically references this subsection or the requirements under this subsection.Formerly: Acts 1909, c.55, s.4. As amended by Acts 1980, P.L.30, SEC.4; P.L.3-1986, SEC.9; P.L.44-1991, SEC.1; P.L.50-2000, SEC.2; P.L.189-2005, SEC.1; P.L.176-2009, SEC.3; P.L.172-2011, SEC.11; P.L.137-2012, SEC.8; P.L.184-2015, SEC.5; P.L.244-2017, SEC.5; P.L.157-2020, SEC.3.