Indiana Code 10-12-3-5. Right to net amount paid into fund from wages
Current as of: 2024 | Check for updates
|
Other versions
Sec. 5. If an employee beneficiary ceases to be an eligible employee for any reason, including death, disability, unemployment, or retirement:
(2) the employee beneficiary’s beneficiary; or
(1) the employee beneficiary;
Terms Used In Indiana Code 10-12-3-5
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
(3) the employee beneficiary’s estate;
is entitled to receive at least the net amount paid into the trust fund from the wages of the employee beneficiary, either in a lump sum or in monthly installments not less than the basic pension amount.
[Pre-2003 Recodification Citation: 10-1-2.2-5.]
As added by P.L.2-2003, SEC.3.