Sec. 5. (a) As used in this chapter and except as provided in subsection (b), “system” refers to the Indiana public retirement
system established by
IC 5-10.5-2-1.
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Terms Used In Indiana Code 5-10.2-14-5
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Fund: as used in this article means the Indiana state teachers' retirement fund and the public employees' retirement fund. See Indiana Code 5-10.2-1-2
- system: refers to the Indiana public retirement system established by Indiana Code 5-10.2-14-5
(1) The public employees’ defined contribution plan established under IC 5-10.3-12.
(2) An annuity savings account for the public employees’ retirement fund established under IC 5-10.2-2-2(a)(1).
(3) The teachers’ defined contribution plan established under IC 5-10.4-8.
(4) An annuity savings account for the Indiana state teachers’ retirement fund established under IC 5-10.2-2-2(c)(1).
(5) The legislators’ defined contribution plan established under IC 2-3.5-5.
As added by P.L.206-2023, SEC.1.
