Indiana Code 20-42-4-1. Application
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Sec. 1. This chapter applies to a school corporation that:
(2) includes in a collective bargaining agreement or other contract entered into after June 30, 2001, a provision to increase:
(1) after June 30, 2001, establishes a retirement or severance plan that will require the school corporation to pay postretirement or severance benefits to employees of the school corporation; or
Terms Used In Indiana Code 20-42-4-1
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(A) the benefit; or
(B) the unfunded liability;
under a retirement or severance provision that will require the school corporation to pay postretirement or severance benefits to employees of the school corporation.
[Pre-2006 Recodification Citation: 21-2-20-1.]
As added by P.L.2-2006, SEC.165.