Terms Used In Indiana Code > Title 5 > Article 10.2 > Chapter 3 - Creditable Service; Contributions; Withdrawals; Death Settlements

• Amortization: Paying off a loan by regular installments.
• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Board: as used in this article , means the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.2-1-1
• Contract: A legal written agreement that becomes binding when signed.
• Dependent: A person dependent for support upon another.
• Employer: as used in this article means the state for employees of the state and a political subdivision or school corporation for its employees. See Indiana Code 5-10.2-1-3
• Fund: as used in this article means the Indiana state teachers' retirement fund and the public employees' retirement fund. See Indiana Code 5-10.2-1-2
• Member: as used in this article means a member of the Indiana state teachers' retirement fund or of the public employees' retirement fund. See Indiana Code 5-10.2-1-4
• Participating political subdivision: as used in this article means a political subdivision which is participating in the public employees' retirement fund as specified in Indiana Code 5-10.2-1-5
• Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
• Retirement fund law: as used in this article means the statutes governing:

  Indiana Code 5-10.2-1-6

• vested status: as used in this article means the status of having ten (10) years of creditable service. See Indiana Code 5-10.2-1-8
• Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5