Indiana Code 5-10.2-14-13. Board duties concerning certain funds, plans, and accounts
(1) ensure that reasonable efforts are made during the due diligence process before an investment is made and in monitoring investments in:
Terms Used In Indiana Code 5-10.2-14-13
- 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.
- Board: as used in this article , means the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.2-1-1
- Fiduciary: A trustee, executor, or administrator.
- 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
(B) an annuity savings account for the public employees’ retirement fund established under IC 5-10.2-2-2(a)(1);
(C) the teachers’ defined contribution plan established under IC 5-10.4-8;
(D) an annuity savings account for the Indiana state teachers’ retirement fund established under IC 5-10.2-2-2(c)(1);
(E) the legislators’ defined contribution plan established under IC 2-3.5-5; or
(F) a private market fund (as defined in IC 5-10.2-10-11);
to determine whether any investments would violate section 9 of this chapter; and
(2) take appropriate action, if necessary, consistent with the board’s fiduciary duties.
As added by P.L.206-2023, SEC.1.