Sec. 4. (a) The department shall adopt rules under IC 4-22-2 that it considers necessary to make periodic payments to a cafeteria plan under Section 125 of the Internal Revenue Code on behalf of retired employees described in section 3 of this chapter and to otherwise carry out this chapter.

     (b) The rules adopted by the department may include provisions setting forth the following:

(1) The minimum or maximum total amount or annual amount that may be deposited by the state under this chapter on behalf of retired employees.

(2) The period of years of deposits.

(3) Payment provisions.

As added by P.L.195-1999, SEC.8.