Indiana Code 5-10.3-7-1.1. Election by employee of political subdivision to become fund member; failure to make election
(1) who becomes a full-time employee of a political subdivision in a covered position after an ordinance or resolution described in subdivision (2) that is adopted by the political subdivision has been approved by the board;
Terms Used In Indiana Code 5-10.3-7-1.1
- Board: as used in this article means the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.3-1-1
- Fund: as used in this article means the public employees' retirement fund. See Indiana Code 5-10.3-1-3
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- Member: as used in this article means persons qualifying for membership under Indiana Code 5-10.3-1-5
- 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
(A) to allow an employee in the covered position to become a member of the fund or the public employees’ defined contribution plan at the discretion of the employee; and
(B) to require an employee to make an election under this section in order to become a member of the fund; and
(3) who is not excluded from membership under section 2 of this chapter;
may elect to become a member of the fund.
(b) An election under this section:
(1) must be made in writing on a form prescribed by the board;
(2) must be filed with the board; and
(3) is irrevocable.
(c) An individual who:
(1) is eligible to make the election under this section; and
(2) does not make the election;
becomes a member of the public employees’ defined contribution plan.
(d) An individual described in subsection (a) who separates from employment with a political subdivision and later returns to employment with the political subdivision having had an opportunity to make an election under this section during an earlier period of employment with the political subdivision is not entitled to a second opportunity to make an election under this section with respect to the individual’s employment with the political subdivision.
As added by P.L.241-2015, SEC.20. Amended by P.L.209-2016, SEC.1.