Sec. 8.5. (a) This section applies to reports, records, and contributions submitted after December 31, 2011.

lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Indiana Code 5-10-5.5-8.5

  • Board: refers to the board of trustees of the Indiana public retirement system established by Indiana Code 5-10-5.5-1
  • 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
  • Participant: means any officer who has elected to participate in the retirement plan created by this chapter. See Indiana Code 5-10-5.5-1
     (b) As used in this section, “electronic funds transfer” has the meaning set forth in IC 4-8.1-2-7(f).

     (c) An employer shall submit through the use of electronic funds transfer:

(1) employer contributions, determined by the board, to fund the retirement, disability, and survivor benefits described in this chapter; and

(2) contributions paid by or on behalf of a participant under section 8 of this chapter.

     (d) An employer shall submit in a uniform format through a secure connection over the Internet or through other electronic means specified by the board the reports and records required by the board under this chapter.

     (e) The board shall establish by rule the due dates for all reports, records, and contributions required under this chapter.

As added by P.L.13-2011, SEC.2.

  Previous section
Next section  
 Chapter 5.5 Contents