Sec. 6. (a) As used in this section, “net contributions” means the gross amount of a member’s contributions minus any refund paid or due a teacher.
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Terms Used In Indiana Code 5-10.4-7-6
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC
- Trustee: A person or institution holding and administering property in trust.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) the total net contributions to the fund made for or by the members in the preceding three (3) months; and
(2) subject to IC 5-10.2-2-11.5, the employer contributions as required by section 11 of this chapter.
(c) Amendatory reports to correct errors or omissions may be required and made.
(d) After December 31, 2009, the treasurer of a school corporation, the township trustee, or the appropriate officer of any other institution covered by the fund shall submit:
(1) the employer report described in section 7 of this chapter in a uniform format through a secure connection over the Internet or through other electronic means specified by the board in accordance with IC 5-10.2-2-12.5; and
(2) the:
(A) employer contributions; and
(B) contributions paid by or on behalf of a member;
described in subsection (b) by electronic funds transfer in accordance with IC 5-10.2-2-12.5.
[Pre-2006 Education Finance Recodification Citation: 21-6.1-7-7.]
As added by P.L.2-2006, SEC.28. Amended by P.L.165-2009, SEC.7; P.L.182-2009(ss), SEC.73.
