reglab/statecodes huggingface dataset:
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 4. State Officers of the Fund › 5-10.3-4-2. Repealed

As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.5-1990, SEC.9; P.L.62-2005, SEC.7. Repealed by P.L.115-2009, SEC.21.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 5. Accounts; Investments › 5-10.3-5-1. Accounts in Fund

Sec. 1. Accounts in the Fund. The fund consists of separate annuity savings and retirement allowance accounts established and administered as specified in IC 5-10.2-2.
As added by Acts 1977, P.L.53, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 5. Accounts; Investments › 5-10.3-5-2. Employer Contributions; Federal Money

Sec. 2. Employer Contributions; Federal Moneys. (a) The state shall make contributions to the retirement allowance account as specified in IC 5-10.2-2. Participating political subdivisions shall make contributions as specified in chapter 6 of this article.
(b) If members receive compensation from federal funds, the board shall at the end of each fiscal year determine the employer's contribution, excluding administration expenses, to be paid from federal funds. The amount shall be determined by such method adopted by the board as results in an equitable sharing of the employer contribution by the federal government on account of members receiving compensation from federal funds.
As added by Acts 1977, P.L.53, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 5. Accounts; Investments › 5-10.3-5-3. Investments of Assets; Management Agreements; Board Exemptions on Sale of Surplus Personal Property or State Property

Sec. 3. (a) The board shall invest its assets with the care, skill, prudence, and diligence that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character with like aims. The board shall also diversify such investments in accordance with prudent investment standards.
(b) The board may invest up to five percent (5%) of the excess of its cash working balance in debentures of the corporation for innovation development subject to IC 30-4-3-3.
(c) The board is not subject to IC 4-13, IC 4-13.6, and IC 5-16 when managing real property as an investment. Any management agreements entered into by the board must ensure that the management agent acts in a prudent manner with regard to the purchase of goods and services. Contracts for the management of investment property shall be submitted to the governor, the attorney general, and the budget agency for approval. A contract for management of real property as an investment:
(1) may not exceed a four (4) year term and must be based upon guidelines established by the board;
(2) may provide that the property manager may collect rent and make disbursements for routine operating expenses such as utilities, cleaning, maintenance, and minor tenant finish needs;
(3) must establish, consistent with the board's duty under IC 30-4-3-3(c), guidelines for the prudent management of expenditures related to routine operation and capital improvements; and
(4) may provide specific guidelines for the board to purchase new properties, contract for the construction or repair of properties, and lease or sell properties without individual transactions requiring the approval of the governor, the attorney general, the Indiana department of administration, and the budget agency. However, each individual contract involving the purchase or sale of real property is subject to review and approval by the attorney general at the specific request of the attorney general.
(d) Whenever the board takes bids in managing or selling real property, the board shall require a bid submitted by a trust (as defined in IC 30-4-1-1(a)) to identify all of the following:
(1) Each beneficiary of the trust.
(2) Each settlor empowered to revoke or modify the trust.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.51-1983, SEC.1; P.L.46-1988, SEC.3; P.L.336-1989(ss), SEC.14; P.L.1-1991, SEC.34; P.L.37-1996, SEC.1; P.L.49-1997, SEC.26; P.L.224-2003, SEC.187; P.L.32-2021, SEC.9.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 5. Accounts; Investments › 5-10.3-5-3.1. Board Transactions Subject to Qualification Requirements of Internal Revenue Code

Sec. 3.1. The board's transactions under section 3 of this chapter are subject to IC 5-10.2-2-1.5.
As added by P.L.55-1989, SEC.22.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 5. Accounts; Investments › 5-10.3-5-4. Investments

Sec. 4. (a) Securities shall be held for the fund by banks or trust companies under a custodial agreement. Income, interest, proceeds of sale, materials, redemptions, and all other receipts from securities and other investments which the board retains for the cash working balance shall be deposited as authorized by the board.
(b) The board may contract with investment counsel, trust companies, or banks to assist the board in its investment program.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.46-1988, SEC.4; P.L.55-1993, SEC.2; P.L.195-1999, SEC.19; P.L.1-2002, SEC.16; P.L.115-2009, SEC.10.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 5. Accounts; Investments › 5-10.3-5-5. Custodians

Sec. 5. (a) The custodians must be banks or trust companies that are domiciled in the United States and approved by the board to:
(1) act in a fiduciary capacity; and
(2) manage custodial accounts;
on behalf of the fund.
(b) The board is authorized to accept safekeeping receipts for securities held by the custodians. Each custodian must have a combined capital and surplus of at least ten million dollars ($10,000,000) according to the last published report of condition for the bank or trust company and have physical custody of such securities. The state board of accounts is authorized to rely on safekeeping receipts from the custodian. The custodian may be authorized by the agreement to:
(1) hold securities and other investments in the name of the fund, in the name of a nominee of the custodian, or in bearer form;
(2) collect and receive income, interest, proceeds of sale, maturities, redemptions, and all other receipts from the securities and other investments;
(3) deposit all the receipts collected and received under subdivision (2) in a custodian account or checking account as instructed by the board;
(4) reinvest the receipts collected and received under subdivision (2) as directed by the board;
(5) maintain accounting records and prepare reports which are required by the board and the state board of accounts; and
(6) perform other services for the board as are customary and appropriate for custodians.
(c) The custodian is responsible for all securities held in the name of its nominee for the fund.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.46-1988, SEC.5; P.L.25-1994, SEC.7; P.L.72-2003, SEC.1; P.L.97-2004, SEC.19; P.L.90-2008, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 5. Accounts; Investments › 5-10.3-5-6. Termination of Agreements

Sec. 6. Termination of Agreements and Contracts. The board may terminate contracts and custodial agreements with investment counsel, trust companies and banks and may recover securities and moneys held under the custodial agreements whenever the board considers these actions necessary to protect the fund.
As added by Acts 1977, P.L.53, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 5. Accounts; Investments › 5-10.3-5-7. Actuarial Reports; Status of Reserve Account; Charges Against Difference Between Reserves in Account and Accrued Liability

Sec. 7. (a) After each fiscal year, the actuary shall report the status of the reserve account for persons receiving benefits from the fund. The report must contain a statement of the reserves in the account and the accrued liability for these persons.
(b) Taking into consideration the actuary's report, the board shall after June 30, 1985, charge the costs of postretirement benefit increases against any difference between the reserves in the account and the accrued liability. However, the board may withhold from the difference, as a contingency reserve, an amount less than or equal to two percent (2%) of the reserve. If the amount of the difference is insufficient to meet the costs of the postretirement benefit increases, the excess shall be charged against each employer's account in the retirement allowance account on a prorata basis.
As added by Acts 1977, P.L.53, SEC.3. Amended by Acts 1977(ss), P.L.2, SEC.3; P.L.50-1985, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-0.5. "Plan"

Sec. 0.5. As used in this chapter, "plan" refers to the public employees' defined contribution plan under IC 5-10.3-12.
As added by P.L.241-2015, SEC.11.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-1.1. Volunteer Fire Departments; Plan Participation

Sec. 1.1. (a) This section applies to a political subdivision that is served by a volunteer fire department.
(b) The following definitions apply throughout this section:
(1) "Nominal compensation" has the meaning set forth in IC 36-8-12-2.
(2) "Volunteer fire department" has the meaning set forth in IC 36-8-12-2.
(c) The governing body of a political subdivision may adopt an ordinance or resolution specifying the departmental, occupational, or other definable classifications of members of the volunteer fire department that are required to become members of the plan. A political subdivision may become a participant in the plan if the ordinance or resolution is filed with and approved by the board.
(d) The governing body of a political subdivision shall determine the amounts of the contributions that the political subdivision will make on behalf of the eligible members of the volunteer fire department. However, the contributions that are made on behalf of each eligible member of the volunteer fire department in any specified departmental, occupational, or other definable classification must be equal. The governing body of the political subdivision shall specify the amounts of the contributions that the political subdivision will make for each departmental, occupational, or other definable classification of the members of the volunteer fire department in an ordinance or resolution adopted under subsection (c) and in any subsequent ordinance or resolution that changes the contribution amounts. If the governing body of the political subdivision changes the contribution amounts, the governing body shall file the ordinance or resolution with the board. The new contribution amounts become effective on the later of the date on which the ordinance or resolution is approved by the board or the effective date specified in the resolution.
(e) Contributions made under this section on behalf of the eligible members of a volunteer fire department may not be considered in the computation of nominal compensation for purposes of IC 36-8-12.
(f) An individual who participates in the plan under subsection (c) does not earn creditable service (as defined in IC 5-10.2-3-1) in the fund for the individual's service with a volunteer fire department.
As added by P.L.96-2020, SEC.1. Amended by P.L.92-2021, SEC.7.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-1.5. Authorized Agent in Third Class City or Town

Sec. 1.5. (a) This section applies to a third class city or a town.
(b) The clerk-treasurer of a city or town is that city's or town's authorized agent for all matters concerning the fund and the plan.
As added by P.L.69-1995, SEC.1. Amended by P.L.241-2015, SEC.13.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-2. Preliminary Survey

Sec. 2. The governing body may request a preliminary survey, at its expense as determined by the board, to determine the estimated cost of participation. The board and its actuary shall give an estimate of the costs, the benefits, and other appropriate information.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.246-2001, SEC.10; P.L.23-2011, SEC.17.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-3. Powers of Governing Body

Sec. 3. Powers of the Governing Body. After a political subdivision becomes a participant, its governing body may make appropriations, make payments, and do all things required by this article.
As added by Acts 1977, P.L.53, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-4. Accounts

Sec. 4. The board shall maintain separate accounts for each contribution rate group. Credits and charges to these accounts shall be made as prescribed in IC 5-10.2-2 and IC 5-10.3-12, as applicable.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.23-2011, SEC.18; P.L.241-2015, SEC.14.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-5. Repealed

As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.47-1985, SEC.6; P.L.54-1993, SEC.12. Repealed by P.L.23-2011, SEC.31.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-6. Appropriations and Payments by School Corporations

Sec. 6. A school corporation shall make the appropriations and payments required of participating political subdivisions from its education fund or operations fund in accordance with the categories of expenditures established under IC 20-42.5-3.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.238-2019, SEC.6.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-7. Collection of Payments

Sec. 7. (a) If the employer or political subdivision fails to make payments required by this chapter, the amount payable may be:
(1) withheld by the auditor of state from moneys payable to the employer or subdivision and transferred to the fund or the plan, as applicable; or
(2) recovered in a suit in the circuit or superior court of the county in which the political subdivision is located. The suit shall be an action by the state on the relation of the board, prosecuted by the attorney general.
(b) If:
(1) service credit is verified for a member who has filed an application for retirement benefits; and
(2) the member's employer at the time the service credit was earned has not made contributions for or on behalf of the member for the service credit;
liability for the unfunded service credit shall be charged against the employer's account and collected by the fund as provided in subsection (a). Processing of a member's application for retirement benefits may not be delayed by an employer's failure to make contributions for the service credit earned by the member while the member was employed by the employer.
(c) If the employer or political subdivision fails to file the reports or records required by this chapter or by IC 5-10.3-7-12.5, the auditor of state shall:
(1) withhold the penalty described in IC 5-10.3-7-12.5 from money payable to the employer or the political subdivision; and
(2) transfer the penalty to the fund or the plan, as applicable.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.195-1999, SEC.20; P.L.115-2009, SEC.11; P.L.241-2015, SEC.15.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-8.3. Retirement Plans Offered by Political Subdivision That Withdraws From or Freezes Participation in Fund

Sec. 8.3. (a) This section applies to a political subdivision that:
(1) either:
(A) withdraws from the fund under section 8 of this chapter; or
(B) freezes its participation in the fund as described in section 8.2 of this chapter; and
(2) chooses thereafter to offer a retirement plan to its employees.
(b) Except as provided in subsection (c), a political subdivision 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 political subdivision 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 political subdivision may continue to participate in the defined contribution plan in which the political subdivision participated on July 1, 2015.
As added by P.L.241-2015, SEC.18.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-8.5. Certain State University Employees Involved in Health Care

Sec. 8.5. (a) This section only applies if:
(1) certain employees of a state university in a departmental, occupational, or other definable classification involved in health care are terminated from employment with the state university as a result of:
(A) a lease or other transfer of university property to a nongovernmental entity; or
(B) a contractual arrangement with a nongovernmental entity to perform certain state university functions;
(2) the state university requests coverage under this section from the board; and
(3) the board approves the request.
(b) The withdrawal of the employees described in subsection (a) from the fund is effective on a termination date established by the board. The board may not establish a termination date that occurs before all of the following have occurred:
(1) The state university has requested coverage under this section and provided written notice of the following to the board:
(A) The intent of the state university to terminate the employees from employment.
(B) The names of the terminated employees as of the date that the termination is to occur.
(2) The expiration of a thirty (30) day period following the filing of the notice with the board.
(3) The state university fully complies with subsection (c).
(c) A member who is an employee of the state university described in subsection (a) as of the date of the notice under subsection (b) and who is listed in the notice under subsection (b) is vested in the pension portion of the member's retirement benefit. The state university must contribute to the fund the amount the board determines is necessary to completely fund the vested benefit. The contribution by the state university must be made in a lump sum or in a series of payments determined by the board.
(d) A member who is covered by subsection (c) and who is at least sixty-five (65) years of age may elect to retire under IC 5-10.2-4-1 even if the member has less than ten (10) years of service. The benefit for the member shall be computed under IC 5-10.2-4-4 using the member's actual years of creditable service.
(e) The board shall evaluate each withdrawal under this section to determine if the withdrawal affects the fund's compliance with Section 401(a) of the Internal Revenue Code of 1954, as in effect on September 1, 1974. The board may deny an employee permission to withdraw if the denial is necessary to achieve compliance with Section 401(a) of the Internal Revenue Code of 1954, as in effect on September 1, 1974.
As added by P.L.38-1996, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-9. Participation of Political Subdivision With Retirement System

Sec. 9. Participation of Political Subdivision with Retirement Systems. If a political subdivision has a retirement system for its employees, it must conduct a referendum, at which seventy-five percent (75%) of all active and retired members vote for participation, before it may follow the procedures in this chapter for participation.
As added by Acts 1977, P.L.53, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 6. Participation by Political Subdivisions › 5-10.3-6-10. Transfer of Assets

Sec. 10. (a) If a political subdivision with a retirement system becomes a participant, the moneys and securities in the retirement system shall be transferred to the fund. If the securities to be transferred are not acceptable to the board, they shall be converted to cash, which shall be transferred to the fund.
(b) If there are insufficient funds transferred under subsection (a), then the political subdivision shall pay the fund, either in a single payment or in installment payments approved by the board, the amount needed. If the political subdivision is unable to make any payment, the board may reduce proportionately each benefit payable to retired members.
(c) The liabilities of a retirement system which is transferred to the fund are not liabilities of the fund, except as provided by agreement between the fund and the political subdivision.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.23-2011, SEC.19.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-0.1. Application of Certain Amendments to Chapter

Sec. 0.1. The amendments made to section 5 of this chapter by P.L.184-2001 apply only to members of the public employees' retirement fund or the Indiana state teachers' retirement fund who retire after June 30, 2001.
As added by P.L.220-2011, SEC.79.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-0.3. Legalization of Certain Actions Under Section 2 of Chapter

Sec. 0.3. Actions taken before April 16, 1987, that would have been valid under section 2 of this chapter, as amended by P.L.62-1987, are legalized and validated.
As added by P.L.220-2011, SEC.80.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-1.1. Election by Employee of Political Subdivision to Become Fund Member; Failure to Make Election

Sec. 1.1. (a) An individual:
(1) who becomes a full-time employee of a political subdivision in a covered position after an ordinance or resolution described in subdivision (2) that is adopted by the political subdivision has been approved by the board;
(2) who is employed by a political subdivision that has elected in an ordinance or resolution adopted under IC 5-10.3-6-1 and approved by the board:
(A) to allow an employee in the covered position to become a member of the fund or the public employees' defined contribution plan at the discretion of the employee; and
(B) to require an employee to make an election under this section in order to become a member of the fund; and
(3) who is not excluded from membership under section 2 of this chapter;
may elect to become a member of the fund.
(b) An election under this section:
(1) must be made in writing on a form prescribed by the board;
(2) must be filed with the board; and
(3) is irrevocable.
(c) An individual who:
(1) is eligible to make the election under this section; and
(2) does not make the election;
becomes a member of the public employees' defined contribution plan.
(d) An individual described in subsection (a) who separates from employment with a political subdivision and later returns to employment with the political subdivision having had an opportunity to make an election under this section during an earlier period of employment with the political subdivision is not entitled to a second opportunity to make an election under this section with respect to the individual's employment with the political subdivision.
As added by P.L.241-2015, SEC.20. Amended by P.L.209-2016, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-2. Exclusions From Membership

Sec. 2. The following employees may not be members of the fund:
(1) Officials of a political subdivision elected by vote of the people, unless the governing body specifically provides for the participation of locally elected officials.
(2) Employees occupying positions normally requiring performance of service of less than six hundred (600) hours during a year who:
(A) were hired before July 1, 1982; or
(B) are employed by a participating school corporation.
(3) Independent contractors or officers or employees paid wholly on a fee basis.
(4) Employees who occupy positions that are covered by other pension or retirement funds or plans, maintained in whole or in part by appropriations by the state or a political subdivision, except:
(A) the federal Social Security program; and
(B) the prosecuting attorneys retirement fund established by IC 33-39-7-9.
(5) Managers or employees of a license branch of the bureau of motor vehicles commission, except those persons who may be included as members under IC 9-14-10.
(6) Employees, except employees of a participating school corporation, hired after June 30, 1982, occupying positions normally requiring performance of service of less than one thousand (1,000) hours during a year.
(7) Persons who:
(A) are employed by the state;
(B) have been classified as federal employees by the Secretary of Agriculture of the United States; and
(C) are covered by the federal Social Security program as federal employees under 42 U.S.C. 410.
As added by Acts 1977, P.L.53, SEC.3. Amended by Acts 1978, P.L.24, SEC.5; Acts 1982, P.L.37, SEC.3; P.L.31-1984, SEC.2; P.L.42-1986, SEC.1; P.L.62-1987, SEC.1; P.L.61-1987, SEC.2; P.L.341-1989(ss), SEC.5; P.L.62-1989, SEC.2; P.L.2-1991, SEC.26; P.L.98-2004, SEC.68; P.L.195-2013, SEC.10; P.L.198-2016, SEC.10.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-2.5. Constables

Sec. 2.5. Notwithstanding the provisions of section 2 of this chapter, any constable who:
(1) is not otherwise eligible for membership in the public employees' retirement fund; and
(2) was enrolled erroneously in the public employees' retirement fund as a contributing member;
is eligible for membership in the public employees' retirement fund and is entitled to receive the benefits provided by that fund.
As added by Acts 1981, P.L.51, SEC.1.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-2.7. Police Officers and Firefighters

Sec. 2.7. (a) This section applies only to an individual who:
(1) began service as a police officer or firefighter and became a member of a police officers' pension fund or firefighters' pension fund before 1980;
(2) began service in another position (referred to in this section as the "PERF position") and was enrolled erroneously as a contributing member of the public employees' retirement fund with respect to the PERF position before 1980;
(3) made contributions to the public employees' retirement fund with respect to the PERF position as if the individual had been legally enrolled in that fund;
(4) after 1991 was denied service credit in the public employees' retirement fund with respect to all or part of the individual's service in the PERF position because of the individual's service in the police officer or firefighter position described in subdivision (1); and
(5) claims service credit in PERF and applies for membership in PERF before January 1, 2000.
(b) Notwithstanding the provisions of section 2 of this chapter, an individual described in subsection (a) who:
(1) is not otherwise eligible for membership in the public employees' retirement fund; and
(2) was enrolled erroneously in the public employees' retirement fund as a contributing member;
is eligible for membership in the public employees' retirement fund and is entitled to receive the benefits provided by that fund.
As added by P.L.195-1999, SEC.21.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-3. Optional Membership

Sec. 3. (a) Members of the general assembly, including members who:
(1) completed their service before July 1, 1987; and
(2) were not members of the fund during their service in the general assembly;
are entitled to become, at their option, members of the fund. A member of the general assembly who completed his service before July 1, 1987, in order to become a member of the fund must apply to the board for membership and must present evidence satisfactory to the board of his prior service. Such a member of the general assembly may become a member without any service after June 30, 1987.
(b) Notwithstanding the exclusion specified in section 2(4) of this chapter, a member of the general assembly who is a member of the Indiana state teachers' retirement fund and who retires after June 30, 1980, may choose at his retirement date to become a member of the public employees' retirement fund and to receive his retirement benefit from the fund.
(c) An employee who:
(1) was hired before July 1, 1982; or
(2) is employed by a participating school corporation;
and who is occupying a position normally requiring performance of services of less than one thousand (1,000) hours a year may at his option be a member of the fund.
As added by Acts 1977, P.L.53, SEC.3. Amended by Acts 1980, P.L.28, SEC.8; Acts 1982, P.L.37, SEC.4; P.L.30-1984, SEC.2; P.L.381-1987(ss), SEC.2; P.L.46-1988, SEC.7.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-3.5. State Lottery Commission Members and Employees

Sec. 3.5. (a) As used in this section, "commission" refers to the state lottery commission established under IC 4-30-3-1.
(b) Not later than July 1, 2014, for each member or employee of the commission who:
(1) is a participant in a defined benefit retirement plan offered by the commission before July 1, 2013; and
(2) becomes a member of the fund on July 1, 2013, under IC 4-30-3-14.5;
the commission shall transfer from the lottery commission defined benefit retirement plan to the retirement allowance account of the fund the amount required to fund the pension portion of each participant's accrued retirement benefit, calculated as if the participant had been in the fund during the participant's service with the lottery commission as of July 1, 2013. If the assets in the lottery commission defined benefit retirement plan are not sufficient to fund the retirement benefit accrued as of July 1, 2013, for the participants described in this subsection, the commission shall pay to the fund, either in a single payment or in installment payments approved by the board, the amount needed to fund the accrued retirement benefits as described in this subsection.
(c) No amounts shall be transferred as of July 1, 2013, to the annuity savings account of the fund for a member described in subsection (b).
(d) A member or employee of the commission who becomes a member of the fund on July 1, 2013, is entitled to receive creditable service in the fund for all service performed for the commission before July 1, 2013.
(e) The liabilities of a retirement plan offered by the commission before July 1, 2013, whose participants are transferred on July 1, 2013, to the fund are not liabilities of the fund, except as provided by agreement between the fund and the commission.
(f) This section shall not be interpreted to diminish the amount of the benefits previously accrued by any member of the commission's plan who is transferred to the fund under this section. To the extent that the member's benefit exceeds the amount due from the fund, the remaining obligation shall be that of the commission alone.
(g) A member or employee of the commission who becomes a member of the fund on July 1, 2013, under IC 4-30-3-14.5 is vested in the pension portion of the member's retirement benefit from the fund. To the extent that the amount transferred to the fund under this section is not sufficient to fund the cost for vesting under this subsection, the remaining obligation shall be that of the commission alone.
As added by P.L.195-2013, SEC.11.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-4. Creditable Service

Sec. 4. Except as provided in section 7.5 of this chapter, creditable service is determined as specified in IC 5-10.2-3-1. Members also receive credit for service as specified in this chapter.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.60-1987, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-4.3. Public Employees' Defined Contribution Plan Service Credit Purchase

Sec. 4.3. (a) A member of the fund who is also a member of the public employees' defined contribution plan may purchase and claim years of service credit in the fund subject to the following requirements:
(1) The member has at least one (1) year of credited service in the fund.
(2) The member has at least ten (10) years of credited service in a covered position in the fund before the member may claim the years of service credit.
(3) After acquiring one (1) year of credited service in the fund and before the member retires, the member must make the following contributions to the fund:
(A) Contributions that are equal to the product of the following:
(i) The member's salary at the time the member makes a contribution for the service credit.
(ii) A percentage rate, as determined by the actuary of the fund, based on the age of the member at the time the member makes a contribution for service credit and computed to result in a contribution amount that approximates the actuarial present value of the benefit attributable to the service credit purchased.
(iii) The number of years of service credit that the member intends to purchase.
(B) Contributions for any accrued interest, at a rate determined by the actuary of the fund, for the period from the member's initial membership in the fund to the date payment is made by the member.
(b) A member:
(1) who terminates employment before becoming eligible to receive a monthly allowance; or
(2) who receives a monthly allowance for the same service from another tax supported public employee retirement plan other than under the federal Social Security Act;
may withdraw the personal contributions made under this section plus accumulated interest after submitting an application for a refund to the fund in the manner prescribed by the board.
(c) The following apply to the purchase of service credit under this section:
(1) The board may allow a member to make periodic payments of the contributions required for the purchase of service credit in the fund.
(2) A member may elect to make a transfer of the vested portion of the member's annuity savings account balance attributable to participation in the public employees' defined contribution plan to purchase service credit in the fund.
(3) The board may deny an application for the purchase of service credit in the fund if the purchase would exceed the limitations under Section 415 of the Internal Revenue Code.
(4) A member may not claim the service credit for the purpose of determining eligibility or computing benefits unless the member has made all the payments required for the purchase of the service credit.
As added by P.L.209-2016, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-4.5. Out-of-State Service Credit Purchase

Sec. 4.5. (a) As used in this section, "out-of-state service" means service in another state in a comparable position that would be creditable service if performed in Indiana.
(b) Subject to subsections (c) through (f), a member may purchase and claim out-of-state service credit if the member meets the following requirements:
(1) The member has at least one (1) year of creditable service in the fund.
(2) Before the member retires, the member makes contributions to the fund as follows:
(A) Contributions that are equal to the product of the following:
(i) The member's salary at the time the member actually makes a contribution for the service credit.
(ii) A rate, determined by the actuary of the fund, based on the age of the member at the time the member actually makes a contribution for service credit and computed to result in a contribution amount that approximates the actuarial present value of the benefit attributable to the service credit purchased.
(iii) The number of years of out-of-state service the member intends to purchase.
(B) Contributions for any accrued interest, at a rate determined by the actuary for the fund, for the period from the member's initial membership in the fund to the date payment is made by the member.
(3) The member has received verification from the fund that the out-of-state service is, as of that date, valid.
(c) Out-of-state years that qualify a member for retirement in an out-of-state system or in any federal retirement system may not be granted under this section.
(d) At least ten (10) years of service in Indiana is required before a member may receive a benefit based on out-of-state service credits.
(e) A member who:
(1) terminates employment before satisfying the eligibility requirements necessary to receive a monthly allowance; or
(2) receives a monthly allowance for the same service from another tax supported public employee retirement plan other than under the Social Security Act;
may withdraw the purchase amount plus accumulated interest after submitting a properly completed application for a refund to the fund.
(f) The following apply to the purchase of service credit under this section:
(1) The board may allow a member to make periodic payments of the contributions required for the purchase of the service credit. The board shall determine the length of the period during which the payments must be made.
(2) The board may deny an application for the purchase of service credit if the purchase would exceed the limitations under Section 415 of the Internal Revenue Code.
(3) A member may not claim the service credit for purposes of determining eligibility or computing benefits unless the member has made all payments required for the purchase of the service credit.
As added by P.L.5-1997, SEC.4. Amended by P.L.22-1998, SEC.8; P.L.8-2015, SEC.2.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-4.6. In-State Service Credit Purchase

Sec. 4.6. (a) Subject to the provisions of this section, a member may purchase and claim service credit for the member's prior service in a position covered by the 1925 police pension fund under IC 36-8-6, the 1937 firefighters' pension fund under IC 36-8-7, or the 1953 police pension fund under IC 36-8-7.5 if the member meets the following requirements:
(1) The member has at least one (1) year of credited service in the fund.
(2) The member has not attained vested status in and is not an active member of the 1925 police pension fund, the 1937 firefighters' pension fund, or the 1953 police pension fund.
(3) Before the member retires, the member makes contributions to the fund as follows:
(A) Contributions that are equal to the product of the following:
(i) The member's salary at the time the member actually makes a contribution for the service credit.
(ii) A rate, determined by the actuary of the fund, based on the age of the member at the time the member actually makes a contribution for service credit and computed to result in a contribution amount that approximates the actuarial present value of the benefit attributable to the service credit purchased.
(iii) The number of years of service credit the member intends to purchase.
(B) Contributions for any accrued interest, at a rate determined by the actuary for the fund, for the period from the member's initial membership in the fund to the date payment is made by the member.
(4) The member has received verification from the fund that the service in the 1925 police pension fund, the 1937 firefighters' pension fund, or the 1953 police pension fund is, as of that date, valid.
(b) At least ten (10) years of service in Indiana is required before a member may receive a benefit based on service credits purchased under this section.
(c) A member who:
(1) terminates employment before satisfying the eligibility requirements necessary to receive a monthly allowance; or
(2) receives a monthly allowance for the same service from another tax supported public employee retirement plan other than under the Social Security Act;
may withdraw the purchase amount plus accumulated interest after submitting a properly completed application for a refund to the fund.
(d) The following apply to the purchase of service credit under this section:
(1) The board may allow a member to make periodic payments of the contributions required for the purchase of the service credit. The board shall determine the length of the period during which the payments must be made.
(2) The board may deny an application for the purchase of service credit if the purchase would exceed the limitations under Section 415 of the Internal Revenue Code.
(3) A member may not claim the service credit for purposes of determining eligibility or computing benefits unless the member has made all payments required for the purchase of the service credit.
As added by P.L.195-1999, SEC.22. Amended by P.L.8-2015, SEC.3.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-6. Leave Service Credit

Sec. 6. (a) A member is entitled to service credit for adoption leave and maternity or paternity leave of not more than one (1) year if the employer certifies that the leave is granted in accordance with the employer's leave policy.
(b) A member is entitled to service credit for leaves of absence, granted under rules in force at the time of the leave, totaling not more than one-eighth (1/8) of the member's creditable service in the fund at the time the leave is taken. However, service credit for leave granted under this subsection may be included in calculating the maximum leave period if the employer makes employer contributions for the employee during the leave period.
(c) If a member receives compensation from the employer during the leave period, the employer must make contributions to the fund for the employee.
(d) A member may make contributions during the leave of absence based on the member's rate of compensation on the date the member's leave of absence began.
(e) Notwithstanding any law, this section must be administered in a manner consistent with the Family and Medical Leave Act of 1993 (29 U.S.C. 2601 et seq.). A member on a leave of absence that qualifies for the benefits and protections afforded by the Family and Medical Leave Act is entitled to receive credit for vesting and eligibility purposes to the extent required by the Family and Medical Leave Act, but is not entitled to receive credit for service for benefit purposes unless the leave is described in subsection (a) or (b).
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.5-1997, SEC.6; P.L.195-1999, SEC.23; P.L.27-2019, SEC.4.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-7. Service Credits for Public Service

Sec. 7. (a) A member with at least one (1) year of service in a position covered by the fund after January 1, 1946, shall receive credit for years of service at any time as any of the following:
(1) A member of the general assembly.
(2) An elected state official.
(3) A prosecuting attorney of a judicial circuit.
(4) A judge who is covered by the judges' retirement system but who is ineligible for its benefits.
(5) A member of the armed services if the member joined the armed services while the member was a member of the general assembly, including credit for the unexpired term if the unexpired term of the member of the general assembly was longer than the armed service.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.381-1987(ss), SEC.3; P.L.5-1988, SEC.34.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-7.5. Exclusion of Service Before Prior Service Credit Date Contained in Resolution

Sec. 7.5. Notwithstanding IC 5-10.2-3-1, for the purpose of computing benefits the creditable service of a member covered by an ordinance or resolution adopted by a political subdivision's governing body under IC 5-10.3-6-1(e) excludes all service with the political subdivision before the prior service credit date contained in the resolution. However, service with the political subdivision before the prior service credit date shall be considered for the purpose of determining eligibility for benefits.
As added by P.L.60-1987, SEC.3. Amended by P.L.241-2015, SEC.21.
2023 Indiana Code › Title 5. State and Local Administration › Article 10.3. The Public Employees' Retirement Fund › Chapter 7. Membership; Creditable Service; Contributions; Withdrawal › 5-10.3-7-7.7. Employees of Township Trustee's Office; Service Credit

Sec. 7.7. (a) For the purposes of computing benefits and determining eligibility, a member who:
(1) has at least one (1) year of service in a position covered by the fund;
(2) became a member of the fund after December 31, 1987;
(3) was at least sixty (60) years of age when the member joined the fund; and
(4) before January 1, 1988, was an employee of a township trustee's office:
(A) located in a county having a consolidated city; and
(B) participating in the fund;
is entitled to service credit as provided in subsections (b) and (c).
(b) A member who is qualified under subsection (a) is entitled to service credit for the time the member:
(1) was an employee of a township trustee's office described in subsection (a)(4);
(2) was employed in a position covered by the fund; and
(3) was not a member of the fund.
(c) To receive service credit under this section, a member must pay into the fund the amount the member would have contributed if the member had been a member of the fund for the period described in subsection (b).
As added by P.L.1-1990, SEC.59.