Sec. 6. (a) The retirement allowance account of the public employees’ retirement
fund consists of the retirement fund, exclusive of the
annuity savings account and the supplemental allowance reserve account. The retirement allowance account also includes any amounts received under
IC 5-10.3-12-24 or
IC 5-10.3-12-24.5. For the public employees’ retirement fund, separate accounts within the retirement allowance account shall be maintained for contributions made by each contribution rate group.
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Terms Used In Indiana Code 5-10.2-2-6
- 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
(c) The retirement allowance account of the 1996 account consists of the 1996 account, exclusive of the annuity savings account and the supplemental allowance reserve account.
As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.55-1989, SEC.10; P.L.54-1993, SEC.7; P.L.13-2011, SEC.3; P.L.22-2011, SEC.1; P.L.23-2011, SEC.9; P.L.6-2012, SEC.28; P.L.35-2012, SEC.34; P.L.241-2015, SEC.3; P.L.127-2018, SEC.6.
