Sec. 1.4. (a) This section applies to a
member or a
beneficiary of the
fund who receives a monthly benefit by direct deposit.
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Terms Used In Indiana Code 5-10.2-4-1.4
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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
(1) before each change in the amount of the member’s or beneficiary’s benefit; or
(2) once every twelve (12) months, if the member’s or beneficiary’s benefit amount does not change;
a written notice showing the member’s or beneficiary’s benefit amount, including any cost of living increase or other adjustment to the benefit amount, and a summary of the member’s or beneficiary’s benefit payment history since the member’s or beneficiary’s last written notice.
As added by P.L.47-2003, SEC.2. Amended by P.L.115-2009, SEC.4.
