Indiana Code 5-10.2-2-3.3. Crediting interest in annuity savings accounts
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Terms Used In Indiana Code 5-10.2-2-3.3
- 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.
- 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
Sec. 3.3. Interest credited prior to July 1, 2005, in the annuity savings account of the public employees’ retirement fund to suspended members participating in the guaranteed fund (before its elimination on January 1, 2017) under section 3 of this chapter shall be treated as properly credited.
As added by P.L.220-2011, SEC.72. Amended by P.L.193-2016, SEC.4.