Indiana Code 5-10.3-12-32. Election by state or participating political subdivision to allow plan participation by retired reemployed fund members
(1) The individual is a retired member (as defined in IC 5-10.3-1-5) of the fund.
Terms Used In Indiana Code 5-10.3-12-32
- board: has the meaning set forth in Indiana Code 5-10.3-12-4
- 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
(3) On or after the date the board receives notice that the state has made an election under this subsection, the individual begins, or is engaged in, a period of reemployment with the state in a position that would otherwise be covered by the fund.
An election by the state under this subsection must be made as provided under IC 5-10.2-2-23 and is effective on the date that notice of the election is filed with the board.
(b) Notwithstanding section 20.5 and section 31(c) of this chapter, a participating political subdivision may adopt an ordinance or resolution allowing an individual who meets the following conditions to begin or resume membership in the plan for a period of reemployment with the participating political subdivision on the later of the date the ordinance or resolution adopted by the participating political subdivision is filed with the board or the date on which the individual’s period of reemployment begins:
(1) The individual is a retired member (as defined in IC 5-10.3-1-5) of the fund.
(2) The individual is prohibited from making contributions to the fund under IC 5-10.2-4-8(e) during a period of reemployment that begins more than thirty (30) days after the member retired.
(3) On or after the date a participating political subdivision files an ordinance or resolution adopted under this subsection, the individual begins, or is engaged in, a period of reemployment with a participating political subdivision as a full-time employee in a position that would otherwise be covered by the fund.
An election by a participating political subdivision under this subsection is effective on the date the ordinance or resolution adopted by a participating political subdivision is filed with the board.
As added by P.L.209-2016, SEC.8.