Indiana Code 5-10.3-9-1. Petitions; requisites
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Sec. 1. Petition for Administration. (a) The members of a retirement system, other than the Indiana state teachers’ retirement fund, may petition the board to assume the administration of their retirement system if:
(2) the system is maintained by the state or a political subdivision.
(1) the system was in existence on March 31, 1947; and
Terms Used In Indiana Code 5-10.3-9-1
- 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
- Employer: as used in this article means the state for employees of the state and a political subdivision for its employees. See Indiana Code 5-10.3-1-2
- Fund: as used in this article means the public employees' retirement fund. See Indiana Code 5-10.3-1-3
- 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
(b) The petition must be signed by at least sixty percent (60%) of the members of the retirement system and must be approved by the employer of the members and the trustees or administrator of the system.
As added by Acts 1977, P.L.53, SEC.3.