Sec. 6.2. (a) This section applies to a
member of the Indiana state teachers’ retirement
fund.
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Terms Used In Indiana Code 5-10.2-3-6.2
- 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
- Member: as used in this article means a member of the Indiana state teachers' retirement fund or of the public employees' retirement fund. See Indiana Code 5-10.2-1-4
- vested status: as used in this article means the status of having ten (10) years of creditable service. See Indiana Code 5-10.2-1-8
(1) has attained vested status in the fund;
(2) has terminated employment;
(3) has not begun receiving benefits; and
(4) is transferring creditable service earned under TRF to another governmental retirement plan under section 1(i) of this chapter;
may suspend the member’s membership and withdraw the member’s annuity savings account to purchase creditable service in the other governmental retirement plan.
As added by P.L.61-2002, SEC.4. Amended by P.L.115-2008, SEC.7.
