reglab/statecodes huggingface dataset:
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 6 - Death in Service Benefits › Section 6-3 - Death in service; compliance with the Heroes Earning Assistance and Relief Tax Act of 2008 (HEART)

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-2-1; IC 5-10.2-1.5
Sec. 3.
(a) Effective
				with respect to deaths occurring on or after January 1, 2007, while a member is
				performing qualified military service (as defined in Chapter 43 of Title 38,
				United States Code), to the extent required by Section 401(a)(37) of the
				Internal Revenue Code, survivors of a member in the retirement system are
				entitled to any additional benefits that the system would provide if the member
				had resumed employment and then died, such as accelerated vesting or survivor
				benefits that are contingent on the member's death while employed.
(b) Effective with respect to deaths or
				disabilities occurring on or after January 1, 2007, while a member is
				performing qualified military service (as defined in Chapter 43 of Title 38,
				United States Code), to the extent permitted by Section 414(u)(8) of the
				Internal Revenue Code, for benefit accrual purposes, the member will be treated
				as having returned to employment on the day before the death or disability and
				then terminated on the date of death or disability. This provision shall be
				applied to all similarly situated individuals in a reasonably equivalent
				manner.
(c) Beginning January 1,
				2009, to the extent required by Sections 3401(h) and 414(u)(2) of the Internal
				Revenue Code, an individual receiving differential wage payments (while the
				individual is performing qualified military service (as defined in Chapter 43
				of Title 38, United States Code)) from an employer shall be treated as employed
				by that employer and the differential wage payment shall be treated as earned
				compensation. This provision shall be applied to all similarly situated
				individuals in a reasonably equivalent manner.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-6-3.5 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-6-3 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 6 - Death in Service Benefits › Section 6-4 - Death in service; surviving dependents

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-3-7.5; IC 5-10.2-3-8; IC
				  5-10.4-5-12
Sec. 4.
(a) Whenever
				a member dies while in active service and is not survived by a qualified spouse
				but is survived by one (1) qualified dependent, the dependent is entitled to
				the monthly benefits determined under the statutory criteria.
(b) Whenever a member dies while in active
				service and is not survived by a qualified spouse but is survived by more than
				one (1) qualified dependent, the qualified dependents are entitled to an equal
				share of the monthly benefits determined under statutory criteria.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-6-4 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-6-4 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 6 - Death in Service Benefits › Section 6-5 - Death in service; dependent with a disability

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-3-7.5; IC 5-10.2-3-8; IC
				  5-10.4-5-12
Sec. 5.
(a) Whenever
				a member who dies in service is not survived by a qualified spouse but is
				survived by a dependent with a qualifying disability, benefits will be paid
				after the dependent or the dependent's guardian has provided proof that:
(1) the person was the natural or adopted
				child of the member and was the dependent of the member at the time of the
				member's death;
(2) the dependent
				is totally and permanently disabled under the Social Security guidelines;
				and
(3) when the dependent is over
				eighteen (18) years of age, that the disability onset date preceded the
				dependent's eighteenth birthday.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 6 - Death in Service Benefits › Section 6-6 - Dependency test

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-3-7.5; IC 5-10.2-3-8; IC
				  5-10.4-5-12
Sec. 6.
An individual will be considered dependent for the purpose of
				  this article when claimed by the member for tax purposes under the Internal
				  Revenue Service Code, provides for the primary support of the individual, or
				  pays support pursuant to a dissolution decree or other support
				  agreement.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-6-6 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-6-6 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 6 - Death in Service Benefits › Section 6-7 - Purchase of credit by surviving qualified spouse or dependent

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-3-7.5; IC 5-10.2-3-8
Sec. 7.
A surviving qualified spouse or dependent eligible to receive
				  benefits under IC 5-10.2-3-7.5 or IC 5-10.2-3-8 may purchase or claim service
				  credit which could have been purchased or claimed by the
				  decedent.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-6-7 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-6-7 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 6 - Death in Service Benefits › Section 6-8 - Death withdrawal

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-2-3; IC 5-10.2-3-7.5
Sec. 8.
A check representing the lump sum payment of benefits owed as
				  the result of the death of a member shall include interest paid pursuant to
				  valuations as provided by IC 5-10.2-2-3.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-6-8 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-6-8 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 6 - Death in Service Benefits › Section 6-9 - Death in service; proof required

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-3-7.5; IC 5-10.2-3-8; IC
				  5-10.4-5-12
Sec. 9.
(a) In every
				case where a member is survived by a qualified spouse, the spouse must present
				the following:
(1) Proof of member's and
				spouse's age.
(2) Proof of the
				validity and duration of the marriage.
(3) Proof of the member's death by means of a
				death certificate or other official verification.
(4) The member's and spouse's Social Security
				number.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-1 - Application for retirement

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-1; IC 5-10.4-5-8
Sec. 1.
(a)
				Application for retirement will not be processed unless properly completed by
				the member.
(b) The board may
				investigate any and all applications.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-7-1 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-7-1 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-2 - Retirement effective date

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-1; IC 5-10.2-4-8; IC 5-10.4-5-8
Sec. 2.
(a) A
				member's retirement shall become effective on the latest of the first day of:
(1) the month following the last day of
				compensated service;
(2) the month
				following the date that age, service credit, or disability requirements are
				met; or
(3) any future month
				requested by the member in writing.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-3 - Proof required to commence monthly benefits

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-4; IC 5-10.2-4-7; IC 5-10.4-5-11; IC
				  34-28-1
Sec. 3.
(a) No
				retirement benefits shall be paid to a member until the member provides proof
				of date of birth in any one (1) of the following forms:
(1) A birth certificate or registration from
				the public health department or other governmental entity.
(2) A court decree obtained under IC 34-28-1
				and certified by the clerk of the court.
(3) Other evidence relating to the member's
				date of birth may be submitted, and upon approval the board shall fix a date
				based thereon.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-4 - Guaranteed plan

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-3-9; IC 5-10.2-4-2
Sec. 4.
(a) When a
				member elects the five (5) year guaranteed retirement plan option and does not
				live to exhaust the full amount of the payments, the balance shall accrue to
				the designated beneficiary or the estate of the member.
(b) When a member dies prior to exhausting
				the balance held in the member's annuity savings account, the balance, after
				deducting any payments from the account, including death settlements, will be
				distributed to the designated beneficiary or the member's estate.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-7-4 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-7-4 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-5 - Annuity savings account contributions received by TRF subsequent to processing of retirement benefit

Current through July 10, 2024
Authority: IC 5-10.2-2-1; IC 5-10.2-2-1.5; IC
				  5-10.5-4-2
Affected: IC 5-10.2-4-2
Sec. 5.
(a)
				Notwithstanding a member's election to receive an annuity provided by the
				amounts credited to the member's annuity savings account at retirement, annuity
				savings account contributions posted to a member's account subsequent to the
				final date on which the member's benefit is processed may be distributed to the
				member in a lump-sum payment.
(b)
				Pursuant to IC 5-10.2-4-2(b)(2), a member electing to fully or partially
				annuitize his annuity savings account in contemplation of retirement will have
				the entire amount in his annuity savings account moved into a fixed value
				account, set at the same rate as the guaranteed fund. Once the annuity savings
				account is moved into a fixed value account in contemplation of retirement, the
				election cannot be changed. In addition, any annuity savings account
				contributions posted to a member's account subsequent to the final date on
				which the member's benefit is processed shall be held in a fixed value account,
				set at the same rate as the guaranteed fund, until such time as that amount is
				distributed to the member.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-7-4.5 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-7-5 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-6 - Distributions to minors and incompetent persons

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-3-7.5; IC 5-10.2-3-8; IC 5-10.2-4-7; IC
				  5-10.4-5-11; IC 5-10.4-5-12
Sec. 6.
Distributions to or on behalf of minors and other incompetent
				  beneficiaries are governed by Indiana guardianship law set forth in the Indiana
				  Probate Code. However, payments may be made to minor beneficiaries pursuant to
				  the Indiana Uniform Transfers to Minors Act.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-7-5 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-7-6 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-7 - Required minimum distribution procedure

Current through July 10, 2024
Authority: IC 5-10.2-2-1; IC 5-10.2-2-1.5; IC 5-10.4-3-9; IC
				  5-10.5-4-2
Affected: IC 5-10.2-4-2; IC 5-10.2-4-7
Sec. 7.
(a)
				Distribution of each member's entire interest must begin by April 1 of the
				calendar year following the later of:
(1) the
				calendar year in which the member attains age seventy and one-half (70 1/2);
				or
(2) the calendar year in which
				the member retires (the required beginning date).
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-8 - Compliance with Code Section 401(a)(9) for required minimum distributions

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-2-1.5; IC 5-10.5
Sec. 8.
The retirement system will pay all benefits in accordance
				  with a good faith interpretation of the requirements of Section 401(a)(9) of
				  the Internal Revenue Code and the regulations in effect under that section, as
				  applicable to a governmental plan within the meaning of Section 414(d) of the
				  Internal Revenue Code. The retirement system is subject to the following
				  provisions:
(1) Distribution of a
				member's benefit must begin by the required beginning date, which is the later
				of the April 1 following the calendar year in which the member attains age
				seventy and one-half (70 1/2) or April 1 of the year following the calendar
				year in which the member terminates.
(2) The member's entire interest must be
				distributed over the member's life or the lives of the member and a designated
				beneficiary, or over a period not extending beyond the life expectancy of the
				member or of the member and a designated beneficiary.
(3) If a member dies after the required
				distribution of benefits has begun, the remaining portion of the member's
				interest must be distributed at least as rapidly as under the method of
				distribution before the member's death.
(4) If a member dies before required
				distribution of the member's benefits has begun, the member's entire interest
				must be either:
(A) distributed (in accordance
				with federal regulations) over the life or life expectancy of the designated
				beneficiary, with the distributions beginning no later than December 31 of the
				calendar year following the calendar year of the member's death; or
(B) distributed within five (5) years of the
				member's death.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-9 - Death while receiving benefit under five year guarantee option

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-2; IC 5-10.2-4-8.2
Sec. 9.
(a) Except as
				provided in subsection (b), if a member who selected the five (5) year
				guarantee retirement option dies prior to the end of the five (5) year period,
				the remaining payments shall be paid to the designated beneficiary or the
				member's estate in a lump sum after being actuarially reduced for early
				payment.
(b) If a member makes an
				election under IC 5-10.2-4-8.2(b)(2) and selects the five (5) year guarantee
				retirement option, the designated beneficiary is entitled to the remaining
				payments as described in subsection (a), less the amount of retroactive
				retirement benefits paid to the member as a result of such selection, if
				any.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-7-7 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-7-9 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-10 - Employer payments

Current through July 10, 2024
Authority: IC 5-10.2-2-1; IC 5-10.5-4-2
Affected: IC 5-10.2-3-2; IC 5-10.2-4-2; IC 5-10.4-7-6; IC
				  5-10.4-7-8
Sec. 10.
(a) In
				accordance with and pursuant to IC 5-10.4-7, not later than January 15, April
				15, July 15, and October 15 of each year, the treasurer of a school
				corporation, the township trustee, or the appropriate officer of any other
				institution covered by TRF shall make payments to TRF and make a report to TRF
				in a form and manner as described by TRF. Amendatory reports to correct errors
				or omissions may be required and made.
(b) Notwithstanding subsection (a), as
				allowed in IC 5-10.4-7-6, once TRF gives reasonable notice to covered employers
				and after installation of the ERM system, the due date for contributions is
				seven (7) days after a covered employer's payroll.
(c) Upon written request of TRF, covered
				employers shall submit their payroll date to PERF in a manner or form
				established by TRF within seven (7) days of receipt of such request.
(d) Any payments not made on the due date may
				at TRF's discretion accrue interest at a rate equal to the rate established in
				section 9 of this rule.
(e) Any
				employer who fails to submit required contributions and reports within thirty
				(30) days of the due date will be subject to a penalty as set forth in IC
				5-10.4-7-8. If the thirtieth day following the due date falls on a Saturday,
				Sunday, or a legal holiday, the due date becomes the next working day. It shall
				be the responsibility of the local official to employ such method of delivery
				to insure that the report and payment will reach TRF on or before the due
				date.
(f) An employer who has
				elected to pick up the mandatory employee contributions of its employees must
				do so by resolution in accordance with IC 5-10.2-3-2(d). An employer who wants
				to rescind its election to pick up the mandatory employee contributions must do
				so in writing with approval of its governing body. The change will be effective
				the quarter following the date TRF receives and approves the change.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-7-8 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-7-10 ) by P.L. 23-2011, SECTION
					 22, effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-11 - Overpayments and underpayments

Current through July 10, 2024
Authority: IC 5-10.2-2-1; IC 5-10.5-4-2
Affected: IC 5-10.2-2-11; IC 5-10.2-3-2; IC 6-8.1-10-1
Sec. 11.
(a) When
				there has been an overpayment of picked up member contributions or after-tax
				member contributions, the principal amount of the overpayment will be credited
				to the employer. The principal amount of the overpayment may be adjusted for
				earnings/interest at the interest rate defined in subsection (e).
(b) When there has been an underpayment of
				picked up member contributions or after-tax member contributions, the principal
				amount of the underpayment will be billed to the employer. The principal amount
				of the underpayment may be adjusted for earnings/interest at the interest rate
				defined in subsection (e).
(c) When
				there has been an overpayment of employer contributions, the principal amount
				of the overpayment will be credited to the employer. The principal amount of
				the overpayment may be adjusted for earnings/interest at the interest rate
				defined in subsection (e).
(d) When
				there has been an underpayment of the employer contribution, the principal
				amount of the underpayment will be billed to the employer. The principal amount
				may be adjusted for earnings/interest at the interest rate defined in
				subsection (e).
(e) For purposes of
				this section, the interest rate shall be determined by the executive director
				and shall not exceed the rate of interest set each year within IC
				6-8.1-10-1(c).
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-7-9 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-7-11 ) by P.L. 23-2011, SECTION
					 22, effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-12 - Social Security integration; benefit calculation

Current through July 10, 2024
Authority: IC 5-10.2-3-6; IC 5-10.5-4-2
Affected: IC 5-10.2-4
Sec. 12.
(a) Pursuant
				to IC 5-10.2-4-7(b)(3), a member who retires between fifty (50) years of age
				and sixty-two (62) years of age may integrate the member's monthly pension
				benefit with the member's estimated Social Security benefits. This option
				increases the monthly pension benefit amount for which the member would
				ordinarily be eligible from the date of retirement until sixty-two (62) years
				of age. When the member reaches sixty-two (62) years of age, the member's
				monthly pension benefit will be reduced. Depending upon the factors used in the
				calculation, the member's monthly pension benefit may be reduced to zero (0).
				Such reduction will occur whether or not the member applies for Social Security
				Administration benefits.
(b) To
				receive an estimate of the member's monthly pension benefit with Social
				Security integration, the member shall obtain an estimate of Social Security
				benefits to be received at sixty-two (62) years of age from the Social Security
				Administration and provide the estimate to TRF.
(c) For retirement benefits payable on or
				after January 1, 2010, a member's pre-sixty-two (62) monthly pension benefit
				with Social Security integration shall be computed as follows:
(1) Multiply the member's Social Security
				estimate for benefits to be received at sixty-two (62) years of age and
				actuarial factors established by TRF's actuary, and obtain a product.
(2) Add the amount of the member's pension as
				calculated in IC 5-10.2-4-4 and IC 5-10.2-4-5 to the product obtained in
				subdivision (1).
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 7 - Retirement › Section 7-13 - Stale checks

Current through July 10, 2024
Authority: IC 5-10.2-2-1; IC 5-10.5-4-2
Affected: IC 5-10.2-2-3; IC 5-10.2-3-6; IC 5-10.2-4-2
Sec. 13.
(a) Whenever
				a member applies for a distribution from the member's annuity savings account,
				an effective distribution will be deemed to have occurred as of the date the
				check is issued. If the member fails to negotiate the check within one hundred
				eighty (180) days from issuance, the amount of the check may be credited to the
				fund as posttax monies and it will not be further adjusted for earnings,
				interest, or losses. The fund will retain the monies until the member claims
				them in writing.
(b) Prior to the
				passage of 550 IAC 2-7-10, any member who requested an ASA lump sum full or
				partial distribution and the distribution check was not negotiated within one
				hundred eighty (180) days causing the check to go stale will receive interest
				on the amount of the payment beginning on the one hundred eighty-first day
				after the distribution was made at the interest rate defined in section 9(e) of
				this rule.
Agency cited as 550 IAC 2-7-10, which was renumbered by the
					 Publisher as 550 IAC 2-7-11.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-7-11 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-7-13 ) by P.L. 23-2011, SECTION
					 22, effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 8 - Reemployment › Section 8-1 - Reemployment supplemental benefit process

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-10
Sec. 1.
(a) A TRF
				retired member who reemploys or maintains reemployment in a TRF covered
				position shall not accrue additional TRF service credit or supplemental
				retirement benefits after July 1, 2007.
(b) A TRF reemployed retiree who applies for
				supplemental retirement benefits after June 30, 2007, is entitled to
				supplemental retirement benefits accrued prior to July 1, 2007, as described in
				IC 5-10.2-4-10 as such law was in effect as of June 30, 2007.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-8-4 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-8-1 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 9 - Disability › Section 9-1 - Classroom disability benefits

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-1; IC 5-10.4-5-2
Sec. 1.
(a) A member
				seeking benefits due to classroom disability may offer medical evaluations and
				assessments by physicians who have not been approved by the board. This
				evidence need not be viewed with the same weight as that generated by board
				selected physicians unless reviewed and affirmed by the same.
(b) A member may submit the name and
				credentials of a physician for board approval.
(c) A member's continuing eligibility for
				classroom disability benefits shall be reviewed on an annual basis.
(d) A member who remains disabled until
				eligible for retirement may retire under the requirements of IC 5-10.2-4-1. The
				retirement calculation will not include service credit for the years during
				which classroom disability benefits were received unless the member has at
				least twenty-seven (27) years of creditable service.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-9-1 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-9-1 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 9 - Disability › Section 9-2 - Classroom disability; waiver of time limitation

Current through July 10, 2024
Authority: IC 5-10.4; IC 5-10.5-4-2
Affected: IC 5-10.4-5-1; IC 5-10.4-5-2
Sec. 2.
(a) Except as
				provided in subsection (b), a member must apply not later than one (1) year
				after the onset date of the disability to receive a classroom disability
				benefit under IC 5-10.4-5.
(b) TRF
				may approve the processing of an application for classroom disability benefits
				received later than one (1) year, and payment of benefits may be authorized, if
				the member is otherwise eligible for such benefits. Approval may be given if
				the executive director finds, in the executive director's discretion, that:
(1) the delay in submitting the application
				was reasonable and due to the member's injury or illness; or
(2) the delay in submitting the application
				was reasonable and due to other extenuating circumstances.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 9 - Disability › Section 9-3 - Disability retirement

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-6; IC 5-10.4-5-1
Sec. 3.
(a) In order
				to receive disability retirement benefits, a member must have been employed
				under a uniform or supplemental contract or on a leave approved by the school
				board on the disability onset date as determined by the Social Security
				Administration.
(b) A member
				seeking or receiving disability retirement benefits may execute a waiver
				authorizing the Social Security Administration to annually release to the fund
				information regarding the member's eligibility to continue receiving Social
				Security disability insurance payments.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-9-2 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-9-3 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 9 - Disability › Section 9-4 - Disability without Social Security eligibility

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-6; IC 5-10.4-5-1
Sec. 4.
(a) A member
				with five (5) or more years of creditable service who cannot qualify for Social
				Security disability benefits because of working insufficient quarters to
				qualify, may receive disability retirement benefits from the fund if a board
				appointed physician familiar with Social Security disability guidelines
				establishes the existence of a comparable disability and the board approves the
				disability retirement.
(b) The
				board shall order reexaminations in such cases on a regular basis and review
				the results in order to ensure that the disabling condition is
				ongoing.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-9-3 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-9-4 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 9 - Disability › Section 9-5 - Disability determination pending

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-6; IC 5-10.4-5-1
Sec. 5.
(a) A member
				who is eligible for early retirement and who has filed with the board a copy of
				an application for Social Security disability benefits may apply for early
				retirement and retain the right to disability retirement benefits. When the
				Social Security Administration finds that the member is disabled and the onset
				date was on or before the last day of creditable service stated on the
				application, early retirement benefits will cease and disability retirement
				benefits will commence.
(b)
				Retroactive benefits, less any payments already made, must be calculated and
				paid from the month following the onset date of the disability.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-9-4 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-9-5 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 9 - Disability › Section 9-6 - Disability benefits; benefit commencement

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-6
Sec. 6.
A member who becomes disabled and has sufficient credit for
				  retirement is entitled to disability retirement benefits only after the member
				  has ceased making contributions and receiving credit for service. Benefits
				  shall commence the month after the onset date of the disability or the month
				  after the member's last day of compensable service, whichever is
				  later.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 2-9-5 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 14-9-6 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 14 - INDIANA STATE TEACHERS' RETIREMENT FUND › Rule 9 - Disability › Section 9-7 - Minimum disability retirement benefit

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-7; IC 5-10.4-5-1
Sec. 7.
(a) The
				minimum monthly disability retirement benefit is one hundred eighty dollars
				($180) only if the member chooses the five (5) year retirement benefit
				guarantee and purchases an annuity with the amount credited in the member's
				annuity savings account.
(b) The
				minimum monthly disability retirement benefit shall be no less than the
				actuarial equivalent of one hundred eighty dollars ($180) if the member
				chooses:
(1) to take the amount credited to
				the member's annuity savings account in a lump sum distribution;
(2) a retirement benefit option under IC
				5-10.2-4-7; or
(3) a combination of
				a lump sum distribution of the annuity savings account and an option under IC
				5-10.2-4-Sec. 7.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 15 - INDIANA STATE TEACHERS' RETIREMENT FUND MODEL PLAN AMENDMENT › Rule 1 - Compliance with Code Section 401(a)(31) for eligible rollover distributions › Section 1-1 - Definitions

Current through July 10, 2024
Authority: IC 2-3.5-3-4; IC 5-10-5.5-3; IC 5-10.5-4-2; IC
				  33-38-6-23; IC 33-39-7-11; IC 36-8-8-5
Affected: IC 2-3.5-3-5; IC 5-10-5.5; IC 5-10.2-2-14; IC
				  5-10.2-3-10; IC 5-10.3; IC 5-10.4-4-12; IC 5-10.5; IC 33-38-6-24; IC
				  33-39-7-24; IC 36-8-8-17
Sec. 1.
(a) The
				definitions in this section apply throughout this article.
(b) "Board of trustees" means the board of
				trustees of the Indiana public retirement system (INPRS).
(c) "Direct rollover" means a payment by a
				fund to the eligible retirement plan specified by the distributee.
(d) "Distributee" means an employee or former
				employee. It also includes the employee's or former employee's surviving spouse
				and the employee's or former employee's spouse. Effective January 1, 2009, a
				distributee further includes a nonspouse beneficiary who is a designated
				beneficiary as defined by Section 401(a)(9)(E) of the Internal Revenue Code.
				However, a nonspouse beneficiary may rollover the distribution only to an
				individual retirement account or individual retirement annuity (or, effective
				January 1, 2008, a Roth IRA) established for the purpose of receiving the
				distribution, and the account or annuity must be treated as an inherited
				individual retirement account or annuity.
(e) "Eligible retirement plan" means any of
				the following that accepts the distributee's eligible rollover distribution
				from a fund:
(1) an individual retirement
				account described in Section 408(a) of the Internal Revenue Code;
(2) an individual retirement annuity
				described in Section 408(b) of the Internal Revenue Code;
(3) an annuity plan described in Section
				403(a) of the Internal Revenue Code;
(4) a qualified trust described in Section
				401(a) of the Internal Revenue Code;
(5) effective January 1, 2002, an annuity
				contract described in Section 403(b) of the Internal Revenue Code;
(6) effective January 1, 2002, a plan
				eligible under Section 457(b) of the Internal Revenue Code that is maintained
				by a state, political subdivision of a state, or any agency or instrumentality
				of a state or a political subdivision of a state that agrees to separately
				account for amounts transferred into that plan from the retirement system;
				or
(7) effective January 1, 2008, a
				Roth IRA described in Section 408A of the Internal Revenue Code.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 17 - ANNUAL COMPENSATION LIMITS › Rule 1 - General Provisions › Section 1-1 - Definitions

Current through July 10, 2024
Authority: IC 5-10.2-2-1; IC 5-10.5-4-2
Affected: IC 5-10.2-2-1.5; IC 5-10.4; IC 5-10.5
Sec. 1.
(a) The
				definitions in this section apply throughout this article.
(b) "Code" means the Internal Revenue Code of
				1986, 26 U.S.C. 1 et seq., and all amendments related thereto.
(c) "EGTRRA" means Economic Growth and Tax
				Relief Reconciliation Act of 2001,
				P.L.
				107-16, and all applicable regulations and
				amendments related thereto.
(d)
				"Fund" means the Indiana state teachers' retirement fund.
(e) "IRS" means the Internal Revenue
				Service.
(f) "OBRA '93" refers to
				the federal Omnibus Budget Reconciliation Act of 1993,
				P.L.
				103-66, and all applicable regulations and
				amendments related thereto.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 5-1-1 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 17-1-1 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 17 - ANNUAL COMPENSATION LIMITS › Rule 1 - General Provisions › Section 1-2 - Introduction

Current through July 10, 2024
Authority: IC 5-10.2-2-1; IC 5-10.5-4-2
Affected: IC 5-10.2-2-1.5; IC 5-10.4; IC 5-10.5
Sec. 2.
(a) OBRA '93
				was signed into law on August 10, 1993. Among other things, OBRA '93 contained
				amendments to Section 401(a)(17) of the Code relating to the annual
				compensation limit for tax-qualified retirement plans. Section 401(a)(17) of
				the Code provides an annual compensation limit for each employee under a
				qualified plan. The annual compensation limit was subsequently amended by
				EGTRRA for plan years beginning after December 31, 2001. A plan may not base
				contributions or benefits on annual compensation in excess of this annual
				compensation limit.
(b) Prior to
				its amendment by OBRA '93, the annual compensation limit under Section
				401(a)(17) of the Code was two hundred thousand dollars ($200,000), adjusted
				for cost-of-living increases (two hundred thirty-five thousand eight hundred
				forty dollars ($235,840) for 1993). Section 401(a)(17) of the Code was amended
				by OBRA '93 to reduce the annual compensation limit to one hundred fifty
				thousand dollars ($150,000), and to modify the manner in which cost-of-living
				adjustments are made to the annual compensation limit. EGTRRA subsequently
				amended this annual compensation limit to two hundred thousand dollars
				($200,000) as modified by cost of living adjustments.
(c) OBRA '93, however, provides a grandfather
				clause for certain eligible participants in governmental plans. This
				grandfather rule applies to individuals who already were participants in
				governmental plans before the first plan year beginning after December 31,
				1995, or, if earlier, the first plan year for which the plan is amended to
				comply with OBRA '93. Under the grandfather rule, the annual compensation limit
				contained in OBRA '93 will not apply to those eligible participants to the
				extent that the annual compensation limit in OBRA '93 would reduce the amount
				of compensation taken into account under the plan below the amount that was
				allowed to be taken into account under the plans as in effect on July 1,
				1993.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 5-1-2 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 17-1-2 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 17 - ANNUAL COMPENSATION LIMITS › Rule 1 - General Provisions › Section 1-3 - Purpose

Current through July 10, 2024
Authority: IC 5-10.2-2-1; IC 5-10.5-4-2
Affected: IC 5-10.2-2-1.5; IC 5-10.4; IC 5-10.5
Sec. 3.
The purpose of this rule is to comply with OBRA '93 and
				  EGTRRA as those acts amended Section 401(a)(17) of the Code.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 5-1-3 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 17-1-3 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 17 - ANNUAL COMPENSATION LIMITS › Rule 1 - General Provisions › Section 1-4 - Text

Current through July 10, 2024
Authority: IC 5-10.2-2-1; IC 5-10.5-4-2
Affected: IC 5-10.2-2-1.5; IC 5-10.4; IC 5-10.5
Sec. 4.
The annual compensation limitations of Section 401(a)(17) of
				  the Code shall be applied as follows:
(1) The annual compensation limit under
				Section 401(a)(17) of the Code, as amended by OBRA '93 and EGTRRA, shall not
				apply to any eligible participant, in any future year, to the extent that the
				application of the annual compensation limit in Section 401(a)(17) of the Code,
				as amended by OBRA '93 and EGTRRA, would reduce the amount of annual
				compensation that is allowed to be taken into account under the fund below the
				amount that was allowed to be taken into account under the fund as in effect on
				July 1, 1993. As used in this subdivision, "eligible participants" includes all
				members who participated in the fund prior to July 1, 1996.
(2) The annual compensation limit under
				Section 401(a)(17) of the Code, as amended by OBRA '93, will be effective with
				respect to noneligible participants as of July 1, 1996. As used in this
				subdivision, "noneligible participants" includes all members who did not
				participate in a fund prior to July 1, 1996. Effective for years beginning
				after December 31, 2001, the annual compensation limit under Code Section
				401(a)(17), as amended by EGTRRA, will be effective with respect to noneligible
				participants. The annual compensation limit will be adjusted for cost-of-living
				increases in accordance with Section 401(a)(17)(B) of the Internal Revenue
				Code. Annual compensation means compensation during the plan year or such other
				consecutive twelve (12) month period over which compensation is otherwise
				determined under the plan (the determination period). The cost-of-living
				adjustment in effect for a calendar year applies to annual compensation for the
				determination period that begins with or within such calendar year. If the
				determination period consists of fewer than twelve (12) months, the annual
				compensation limit is an amount equal to the otherwise applicable annual
				compensation limit multiplied by a fraction, the numerator of which is the
				number of months in the short determination period, and the denominator of
				which is twelve (12). If the compensation for any prior determination period is
				taken into account in determining a plan member's contributions or benefits for
				the current plan year, the compensation for such prior determination period is
				subject to the applicable annual compensation limit in effect for that prior
				period.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 5-1-4 ) to the Board of Trustees of the
					 Indiana Public Retirement System ( 35 IAC 17-1-4 ) by P.L. 23-2011, SECTION 22,
					 effective July 1, 2011.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 18 - ROLLOVERS, SERVICE PURCHASES, AND ENHANCED RETIREMENT SAVINGS OPPORTUNITIES › Rule 1 - General Provisions › Section 1-1 - Definitions

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-3-10; IC 5-10.4; IC 5-10.5
Sec. 1.
(a) The
				definitions in this section apply throughout this article.
(b) "Board of trustees" means the board of
				trustees of the Indiana state teachers' retirement fund.
(c) "Code" means the Internal Revenue Code of
				1986, 26 U.S.C. 1 et seq., and all amendments related thereto.
(d) "Direct rollover" means a payment from an
				eligible retirement plan specified by the member to the fund.
(e) "EGTRRA" means the Economic Growth and
				Tax Relief Reconciliation Act of 2001,
				P.L.
				107-16, and all applicable regulations and
				amendments related thereto.
(f)
				"Eligible retirement plan" means:
(1) an
				individual retirement account described in Section 408(a) of the
				Code;
(2) an individual retirement
				annuity described in Section 408(b) of the Code;
(3) an annuity plan described in Section
				403(a) of the Code;
(4) a qualified
				trust described in Section 401(a) of the Code;
(5) an eligible deferred compensation plan
				under Section 457(b) of the Code that is maintained by a state, a political
				subdivision of a state, or any agency or instrumentality of a state or
				political subdivision of a state (so long as the plan agrees to separately
				account for amounts rolled into the plan); or
(6) an annuity contract under Section 403(b)
				of the Code; that accepts the distributee's eligible rollover
				distribution.
Indiana Administrative Code › Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM › Article 18 - ROLLOVERS, SERVICE PURCHASES, AND ENHANCED RETIREMENT SAVINGS OPPORTUNITIES › Rule 1 - General Provisions › Section 1-2 - Rollover for purchase of service

Current through July 10, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-3-10; IC 5-10.4; IC 5-10.5
Sec. 2.
The fund may accept any portion of an eligible rollover
				  distribution in payment of all or a portion of a member's purchase of service
				  credit authorized under the fund's statutes. The fund may accept an eligible
				  rollover distribution paid directly to the system in a direct
				  rollover.
Transferred from the Board of Trustees of the Indiana State
					 Teachers' Retirement Fund ( 550 IAC 6-1-2 ) to the Board of Trustees of the
					 Indiana Public Retirement System (35 IAC
18-1-2 ) by P.L. 23-2011, SECTION 22, effective July 1,
					 2011.