reglab/housing_qa huggingface dataset:
IN Code § 5-10.2-2-2 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-2. Separate Accounts and Subaccounts

Sec. 2. (a) The board shall maintain the following separate accounts in the public employees' retirement fund:(1) The annuity savings account.(2) The retirement allowance account.(3) A supplemental allowance reserve account for the purpose of paying postretirement benefit adjustments, including postretirement benefit increases, thirteenth checks, and other benefit changes or adjustments granted by the general assembly after June 30, 2018, to members of the public employees' retirement fund. The account consists of:(A) amounts allotted to the account by the board from amounts transferred to the Indiana public retirement system under IC 4-30-16-3;(B) amounts appropriated or transferred to the account by the general assembly;(C) contributions from employers under IC 5-10.2-12-3; and(D) donations, gifts, bequests, devises, and grants made to the account.(b) The board shall maintain the following two (2) separate accounts in the Indiana state teachers' retirement fund:(1) The pre-1996 account.(2) The 1996 account.(c) Within each account specified in subsection (b), the board shall maintain the following separate subaccounts:(1) The annuity savings account.(2) The retirement allowance account.(3) A supplemental allowance reserve account for the purpose of paying postretirement benefit adjustments, including postretirement benefit increases, thirteenth checks, and other benefit changes or adjustments granted by the general assembly after June 30, 2018, to members of the Indiana state teachers' retirement fund.(d) The supplemental allowance reserve account established under subsection (c)(3) for the pre-1996 account consists of:(1) amounts allotted to the account by the board from amounts transferred to the Indiana public retirement system under IC 4-30-16-3;(2) amounts appropriated or transferred to the account by the general assembly; and(3) donations, gifts, bequests, devises, and grants made to the account.(e) The supplemental allowance reserve account established under subsection (c)(3) for the 1996 account consists of:(1) amounts allotted to the account by the board from amounts transferred to the Indiana public retirement system under IC 4-30-16-3;(2) amounts appropriated or transferred to the account by the general assembly;(3) contributions from employers under IC 5-10.2-12-3; and(4) donations, gifts, bequests, devises, and grants made to the account.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.35-1985, SEC.3; P.L.54-1993, SEC.5; P.L.23-2011, SEC.8; P.L.127-2018, SEC.5.
IN Code § 5-10.2-2-2.5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-2.5. Investment Guidelines and Limits Established by Boards; Commingling of Assets

Sec. 2.5. (a) The board may establish investment guidelines and limits on all types of investments (including, but not limited to, stocks and bonds) and take other actions necessary to fulfill its duty as a fiduciary for all assets under its control, subject to the limitations and restrictions set forth in section 18 of this chapter, IC 5-10.3-5-3, IC 5-10.4-3-10, and IC 5-10.5-5.(b) The board may commingle or pool assets with the assets of any other persons or entities. This authority includes, but is not limited to, the power to invest in commingled or pooled funds, partnerships, or mortgage pools, including pools that consist in part or entirely of mortgages that qualify as five star mortgages under the program established by IC 24-5-23.6. In the event of any such investment, the board shall keep separate detailed records of the assets invested. Any decision to commingle or pool assets is subject to the limitations and restrictions set forth in IC 5-10.3-5-3, IC 5-10.4-3-10, and IC 5-10.5-5.As added by P.L.43-1997, SEC.1. Amended by P.L.61-2002, SEC.2; P.L.224-2003, SEC.185; P.L.2-2006, SEC.20; P.L.115-2010, SEC.2; P.L.35-2012, SEC.31.
IN Code § 5-10.2-2-3.3 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-3.3. Crediting Interest in Annuity Savings Accounts

Sec. 3.3. Interest credited prior to July 1, 2005, in the annuity savings account of the public employees' retirement fund to suspended members participating in the guaranteed fund (before its elimination on January 1, 2017) under section 3 of this chapter shall be treated as properly credited.As added by P.L.220-2011, SEC.72. Amended by P.L.193-2016, SEC.4.
IN Code § 5-10.2-2-4.1 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-4.1. Crediting Interest and Omitted Contributions After December 31, 2016

Sec. 4.1. (a) This section applies only after December 31, 2016.(b) Except as provided in subsection (e), the market value of the stable value fund program shall be allocated at least annually to the members participating in that program.(c) Except as provided in subsection (e), the market value of each alternative investment program shall be allocated at least annually to the members participating in that program.(d) Contributions to the stable value fund program and the alternative investment programs shall be invested as of the last day of the quarter in which the contributions are received or at an alternate time established by the rules of the board.(e) This subsection applies whenever the board is required to establish an earnings rate in order to credit earnings to an omitted contribution to a member's annuity savings account. As used in this subsection, "omitted contribution" means a contribution contributed by or on behalf of a member under IC 5-10.3-7-9 or IC 5-10.4-4-11 that is received by the board after the time required by IC 5-10.3-7-12.5 or IC 5-10.4-7-6(b)(1). Notwithstanding any law to the contrary, the board may by rule specify:(1) a single composite earnings rate for the gain or loss in market value for the stable value fund program for the purpose of computing the gain or loss in market value on a member's contributions (including omitted contributions) in the stable value fund program; and(2) a single composite earnings rate for the gain or loss in market value for each alternative investment program and the period to which the rate applies for the purpose of computing the gain or loss in market value on a member's contributions (including omitted contributions) in the alternate investment program.As added by P.L.193-2016, SEC.6.
IN Code § 5-10.2-2-6 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-6. Retirement Allowance Accounts

Sec. 6. (a) The retirement allowance account of the public employees' retirement fund consists of the retirement fund, exclusive of the annuity savings account and the supplemental allowance reserve account. The retirement allowance account also includes any amounts received under IC 5-10.3-12-24 or IC 5-10.3-12-24.5. For the public employees' retirement fund, separate accounts within the retirement allowance account shall be maintained for contributions made by each contribution rate group.(b) The retirement allowance account of the pre-1996 account consists of the pre-1996 account, exclusive of the annuity savings account and the supplemental allowance reserve account.(c) The retirement allowance account of the 1996 account consists of the 1996 account, exclusive of the annuity savings account and the supplemental allowance reserve account.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.55-1989, SEC.10; P.L.54-1993, SEC.7; P.L.13-2011, SEC.3; P.L.22-2011, SEC.1; P.L.23-2011, SEC.9; P.L.6-2012, SEC.28; P.L.35-2012, SEC.34; P.L.241-2015, SEC.3; P.L.127-2018, SEC.6.
IN Code § 5-10.2-2-7 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-7. Transfer of Accounts

Sec. 7. (a) When a member retires or dies in service under conditions which entitle a beneficiary or spouse to survivor benefits and if the member or survivor chooses to receive an annuity from the fund, the annuity savings account shall be charged with the amount credited to him in the account. This amount shall be credited to the retirement allowance account, and the annuity shall be paid from this account.(b) When:(1) a member of the public employees' retirement fund who is an employee of a participating political subdivision; or(2) a member of the Indiana state teachers' retirement fund who is covered by the 1996 account and is an employee of a school corporation or other institution;retires or dies in service under conditions which entitle a beneficiary or spouse to survivor benefits, the political subdivision's, school corporation's, or other institution's account in the retirement allowance account shall be charged with an amount equal to the actuarial reserve of the member's retirement pension or the survivor benefit. The amount charged shall be credited to the retirement allowance account, and the retirement pension or survivor benefit shall be paid from this account.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.35-1985, SEC.6; P.L.54-1993, SEC.8.
IN Code § 5-10.2-2-8 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-8. Payment and Computation of Benefits for Combined Creditable Service

Sec. 8. (a) For a member who retires after June 30, 2008, with service in more than one (1) retirement fund, the member may choose at the time the member files an application for retirement benefits whether to retire from the Indiana state teachers' retirement fund or from the public employees' retirement fund. The fund that the member chooses shall pay the pension benefit to the member. The pension shall be computed and vested status shall be determined on the basis of combined creditable service. The annuity, if any, shall be computed on the basis of the amounts credited to the member in annuity savings accounts in all funds minus any amount withdrawn by the member under IC 5-10.2-3-6.5 and any amounts credited to the member in annuity savings accounts in all funds that the member elects to retain in the annuity savings accounts. The funds in which the employee was a member shall pay to the fund responsible for payment of benefits the proportionate actuarial cost of the member's pension.(b) A member of the Indiana state teachers' retirement fund who has served as a member of the general assembly and who retires after June 30, 1980, may choose at the member's retirement date whether to retire from the Indiana state teachers' retirement fund or from the public employees' retirement fund. If the member chooses to retire from the public employees' retirement fund, that fund is responsible for the payment of benefits provided in IC 5-10.2-4, and the Indiana state teachers' retirement fund shall pay to the public employees' retirement fund the proportionate actuarial cost of the member's pension.As added by Acts 1977, P.L.53, SEC.2. Amended by Acts 1980, P.L.28, SEC.2; P.L.35-1985, SEC.7; P.L.115-2008, SEC.5; P.L.40-2017, SEC.5.
IN Code § 5-10.2-2-9 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-9. Actuarial Investigation and Valuation

Sec. 9. (a) The funds may employ a common actuary or actuarial service.(b) At least once in every five (5) years and in every year in which this article is amended so that benefits are changed, the actuary shall make a separate actuarial investigation for each fund of the mortality, service, and compensation experience of the members and their beneficiaries and shall make a valuation of the assets and liabilities of the fund, using the "entry-age normal cost" method.(c) The actuarial investigation must include in the determination of the liability and the rates of contribution the amount necessary to fully fund past and estimated future cost of living increases for members of the public employees' retirement fund amortized over a term determined by the board that does not exceed thirty (30) years.(d) After June 30, 2018, the actuarial valuation must:(1) segregate any amounts attributable to estimated future postretirement benefit increases, thirteenth checks, or other benefit changes or adjustments granted by the general assembly after June 30, 2018, to members of the public employees' retirement fund or the Indiana state teachers' retirement fund; and(2) track separately the following:(A) The liability associated with the postretirement benefit increase assumption used in the actuarial valuation.(B) The specific assets used to fund postretirement benefit increases.(C) The granted use of the postretirement benefit increase funds, including related experience gains and losses.(e) The actuary performing the actuarial valuation shall, upon the board's request, provide a summary of potential postretirement benefit increase options and the related estimated costs of each option.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.54-1993, SEC.9; P.L.246-2005, SEC.48; P.L.111-2015, SEC.2; P.L.127-2018, SEC.7.
IN Code § 5-10.2-2-10 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-10. Mortality Tables

Sec. 10. Based on the actuarial investigation and valuation in section 9 of this chapter, the board shall adopt mortality, service, and such other tables as the board considers necessary for the implementation of this article. The board shall adopt a single mortality table for both men and women that reasonably reflects each fund's mortality experience.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.55-1989, SEC.11; P.L.35-2012, SEC.35.
IN Code § 5-10.2-2-11 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-11. Contribution Rate Determination; Contribution Rate Groups; Supplemental Contributions; Contributions and Contribution Rates Report

Sec. 11. (a) Based on the actuarial investigation and valuation in section 9 of this chapter, the board shall determine:(1) the normal contribution for each contribution rate group, which is the amount necessary to fund the pension portion of the retirement benefit;(2) the rate of normal contribution;(3) the unfunded accrued liability of the public employees' retirement fund, the pre-1996 account, and the 1996 account, which is the excess of total accrued liability over the fund's or account's total assets, respectively; and(4) the period, which must be thirty (30) years or a shorter period, necessary to amortize the unfunded accrued liability determined in subdivision (3).(b) Based on the information in subsection (a), the board may determine, in its sole discretion, contributions and contribution rates for individual employers or for a group of employers. However, after June 30, 2018, the board shall segregate from its determination of contributions and contribution rates any amounts attributable to estimated future postretirement benefit increases, thirteenth checks, or other benefit changes or adjustments granted by the general assembly after June 30, 2018.(c) The board shall require an employer to make a supplemental contribution to the fund in addition to the amounts described in subsection (a)(3) and (a)(4) in an amount necessary to pay the employer's share of the fund's actuarial unfunded liability that other employers would otherwise be required to pay because the employer's employees are becoming members of the plan under IC 5-10.3-12 or IC 5-10.4-8 instead of the fund. The amount necessary to pay an employer's contribution under this subsection in full must be made in a lump sum or in a series of payments determined by the board.(d) The board's determinations under subsection (a):(1) are subject to sections 1.5 and 11.5 of this chapter; and(2) may not include an amount for a retired member for whom the employer may not make contributions during the member's period of reemployment as provided under IC 5-10.2-4-8(e).(e) If the board determines contributions and contribution rates for one (1) or more employers under this section differ from the contributions and contribution rates determined by the actuarial investigation under section 9 of this chapter, the board shall notify the interim study committee for pension management oversight of this fact by reporting the board's action to the legislative services agency in an electronic format under IC 5-14-6.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.55-1989, SEC.12; P.L.54-1993, SEC.10; P.L.246-2005, SEC.49; P.L.72-2007, SEC.1; P.L.1-2009, SEC.16; P.L.182-2009(ss), SEC.70; P.L.23-2011, SEC.10; P.L.35-2012, SEC.36; P.L.195-2013, SEC.2; P.L.241-2015, SEC.4; P.L.217-2017, SEC.56; P.L.127-2018, SEC.8.
IN Code § 5-10.2-2-11.5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-11.5. Employer Contribution Rates for Vincennes University

Sec. 11.5. (a) As used in this section, "Vincennes University" refers to the state educational institution established under IC 21-25-2.(b) Notwithstanding section 11 of this chapter or any other law, Vincennes University is not required to make employer contributions to the Indiana state teachers' retirement fund at any time for the employment during the period July 1, 2001, through June 30, 2009, of Vincennes University's employees who are members of the Indiana state teachers' retirement fund and are covered by the Indiana state teachers' retirement fund pre-1996 account.(c) This subsection applies to employer contributions made by Vincennes University to the Indiana state teachers' retirement fund on account of the employment after June 30, 2009, of Vincennes University's employees who are members of the Indiana state teachers' retirement fund and are covered by the Indiana state teachers' retirement fund pre-1996 account. Notwithstanding section 11 of this chapter or any other law, Vincennes University is required to pay only the following employer contributions to the Indiana state teachers' retirement fund for those employees for the specified years:(1) For the year beginning July 1, 2009, fifteen percent (15%) of the employer contribution otherwise determined for Vincennes University.(2) For the year beginning July 1, 2010, twenty percent (20%) of the employer contribution otherwise determined for Vincennes University.(3) For the year beginning July 1, 2011, twenty-five percent (25%) of the employer contribution otherwise determined for Vincennes University.(4) For the year beginning July 1, 2012, thirty-five percent (35%) of the employer contribution otherwise determined for Vincennes University.(5) For the year beginning July 1, 2013, fifty percent (50%) of the employer contribution otherwise determined for Vincennes University.(6) For the year beginning July 1, 2014, seventy-five percent (75%) of the employer contribution otherwise determined for Vincennes University.(7) For each year beginning after June 30, 2015, one hundred percent (100%) of the employer contribution otherwise determined for Vincennes University.Payments made according to this subsection shall be considered payment in full of employer contributions.As added by P.L.182-2009(ss), SEC.71.
IN Code § 5-10.2-2-12 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-12. State Appropriation

Sec. 12. (a) The general assembly shall appropriate biennially for each fund covered by this article that satisfies the conditions of section 1.5 of this chapter the sum of the following:(1) the state's normal contribution for its employees to the public employees' retirement fund, the pre-1996 account, and the 1996 account, as determined in section 11 of this chapter;(2) at least the anticipated increase in the state's unfunded accrued liability in each fund, other than the pre-1996 account, as estimated by the board under the procedures specified in section 11 of this chapter; and(3) the state's obligation as estimated by the board for disability benefits and benefits payable under retirement fund laws in effect before April 1, 1955.The request for this sum for each fund shall be submitted to the budget agency as one (1) item for each fund. The board shall submit to the agency its actuarial investigation and valuation and any other actuarial information to support the request.(b) The biennial appropriation specified in subsection (a) of this section shall be paid annually to each fund covered by this article that satisfies the conditions of section 1.5 of this chapter in equal installments in July of each year of the biennium.(c) The biennial appropriation under this section shall be deposited in the trust of each fund and used only as provided in section 1.5 of this chapter.As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.54-1993, SEC.11; P.L.119-2000, SEC.3; P.L.35-2012, SEC.37.
IN Code § 5-10.2-2-12.5 (2021)
2021 Indiana Code|Title 5. State and Local Administration|Article 10.2. Public Retirement and Disability Benefits|Chapter 2. The Retirement Funds|5-10.2-2-12.5. Submission of Contributions, Records, and Reports Electronically

Sec. 12.5. (a) This section applies to reports, records, and contributions submitted after December 31, 2009, by an employer.(b) As used in this section, "electronic funds transfer" has the meaning set forth in IC 4-8.1-2-7(f).(c) Except as provided in subsection (e), an employer shall submit through the use of electronic funds transfer:(1) the employer contributions determined under sections 11 and 11.5 of this chapter; and(2) contributions paid by or on behalf of a member under IC 5-10.3-7-9 or IC 5-10.4-4-11.(d) Except as provided in subsection (e), an employer shall submit in a uniform format through a secure connection over the Internet or through other electronic means specified by the board the reports and records described in:(1) IC 5-10.3-7-12.5, for the public employees' retirement fund; or(2) IC 5-10.4-7-6, for the Indiana state teachers' retirement fund.(e) An employer that is unable to comply with either subsection (c) or (d), or both, may request that the board grant a waiver of the requirement of subsection (c) or (d), or both. The employer must:(1) state the reason for requesting the waiver;(2) provide a date, not to exceed two (2) years from the date the employer is first subject to either the electronic funds transfer requirement or the electronic reporting requirement of this section, by which the employer agrees to comply with the requirement of subsection (c) or (d), or both; and(3) sign and verify the waiver form.(f) The board may:(1) grant the employer's request for a waiver; and(2) specify the date by which the employer is required to comply with the electronic funds transfer requirement or the electronic reporting requirement, or both.(g) The board shall establish a waiver form consistent with this section.(h) The board may establish or amend its rules or policies as necessary to administer this section.As added by P.L.165-2009, SEC.4. Amended by P.L.182-2009(ss), SEC.72.