Sec. 24.7. (a) This section applies to a
participating political subdivision‘s contributions for an individual described in section 1(a)(7) of this chapter with respect to the individual’s service with a
volunteer fire department.
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Terms Used In Indiana Code 5-10.3-12-24.7
- account: means the plan account established for a member under section 21(b) of this chapter. See Indiana Code 5-10.3-12-2
- employer: means the state or a participating political subdivision. See Indiana Code 5-10.3-12-8
- fund: has the meaning set forth in Indiana Code 5-10.3-12-10
- member: means an individual who has elected or is required to participate in the plan. See Indiana Code 5-10.3-12-12
- participating political subdivision: means a political subdivision which is participating in the plan as specified in Indiana Code 5-10.3-12-14.5
- plan: refers to the public employees' defined contribution plan established by section 18 of this chapter. See Indiana Code 5-10.3-12-15
- Political subdivision: as used in this article means a county, city, town, township, political body corporate, public school corporation, public library, public utility of a county, city, town, township, and any department of, or associated with, a county, city, town, or township, which department receives revenue independently of, or in addition to, funds obtained from taxation. See Indiana Code 5-10.3-1-6
- volunteer fire department: has the meaning set forth in IC 36-8-12-2. See Indiana Code 5-10.3-12-15.5
(c) For each individual described in section 1(a)(7) of this chapter for whom the participating political subdivision makes a contribution under this section, the amount credited to the member‘s account is the entire amount of the contribution that is made on behalf of the individual. No part of a contribution made on behalf of the individual under this section may be paid into the fund.
(d) A participating political subdivision shall submit the employer contributions determined under this section as provided in IC 5-10.2-2-12.5.
As added by P.L.96-2020, SEC.7.
