Sec. 11.5. (a) As used in this section, “Vincennes University” refers to the state educational institution established under IC 21-25-2.

     (b) Notwithstanding section 11 of this chapter or any other law, Vincennes University is not required to make employer contributions to the Indiana state teachers’ retirement fund at any time for the employment during the period July 1, 2001, through June 30, 2009, of Vincennes University’s employees who are members of the Indiana state teachers’ retirement fund and are covered by the Indiana state teachers’ retirement fund pre-1996 account.

     (c) This subsection applies to employer contributions made by Vincennes University to the Indiana state teachers’ retirement fund on account of the employment after June 30, 2009, of Vincennes University’s employees who are members of the Indiana state teachers’ retirement fund and are covered by the Indiana state teachers’ retirement fund pre-1996 account. Notwithstanding section 11 of this chapter or any other law, Vincennes University is required to pay only the following employer contributions to the Indiana state teachers’ retirement fund for those employees for the specified years:

(1) For the year beginning July 1, 2009, fifteen percent (15%) of the employer contribution otherwise determined for Vincennes University.

(2) For the year beginning July 1, 2010, twenty percent (20%) of the employer contribution otherwise determined for Vincennes University.

(3) For the year beginning July 1, 2011, twenty-five percent (25%) of the employer contribution otherwise determined for Vincennes University.

(4) For the year beginning July 1, 2012, thirty-five percent (35%) of the employer contribution otherwise determined for Vincennes University.

(5) For the year beginning July 1, 2013, fifty percent (50%) of the employer contribution otherwise determined for Vincennes University.

(6) For the year beginning July 1, 2014, seventy-five percent (75%) of the employer contribution otherwise determined for Vincennes University.

(7) For each year beginning after June 30, 2015, one hundred percent (100%) of the employer contribution otherwise determined for Vincennes University.

Payments made according to this subsection shall be considered payment in full of employer contributions.

As added by P.L.182-2009(ss), SEC.71.