Indiana § 2-3.5-5-5.5 Contributions made to defined contribution fund after 12/31/08;
"salary"; time for making contributions; determination of contribution
percentage

Indiana Statutes

§ 2-3.5-5-5.5 — Contributions made to defined contribution fund after 12/31/08; "salary"; time for making contributions; determination of contribution percentage

Indiana § 2-3.5-5-5.5

Art. 3.5LEGISLATIVE RETIREMENT BENEFITS

Ch. 5Legislators' Defined Contribution Plan

This text of Indiana § 2-3.5-5-5.5 (Contributions made to defined contribution fund after 12/31/08; "salary"; time for making contributions; determination of contribution percentage) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 2-3.5-5-5.5 (2026).

Text

5.

(a)This section applies to contributions to the defined contribution fund made by the state after December 31, 2008.

(b)This subsection applies after December 31, 2008. Notwithstanding IC 2-3.5-2-10, as used in this section, "salary" means the total of the following amounts paid to a participant by the state for performing legislative services in the year in which the amounts are paid, determined without regard to any salary reduction agreement established under Section 125 or Section 457 of the Internal Revenue Code:

(1)Salary.

(2)Business per diem allowance and allowances paid in lieu of the submission of claims for reimbursement (but excluding any allowances paid for mileage).

(3)Allowances paid to officers of the house of representatives and the senate.

(c)This subsection appl

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5. (a) This section applies to contributions to
the defined contribution fund made by the state after December 31,
2008.
(b) This subsection applies after December 31, 2008.
Notwithstanding IC 2-3.5-2-10, as used in this section, "salary" means
the total of the following amounts paid to a participant by the state for
performing legislative services in the year in which the amounts are
paid, determined without regard to any salary reduction agreement
established under Section 125 or Section 457 of the Internal Revenue
Code:
(1) Salary.
(2) Business per diem allowance and allowances paid in lieu of
the submission of claims for reimbursement (but excluding any
allowances paid for mileage).
(3) Allowances paid to officers of the house of representatives
and the senate.
(c) This subsection applies after December 31, 2008. The state shall
make a contribution to the defined contribution fund on behalf of each
participant on June 30 of each year. The amount of the contribution is
determined by multiplying the participant's salary for that year by a
percentage determined for that year by the board under subsection (d).
(d) This subsection applies after December 31, 2008. The board
shall use the following rates in determining the percentage described
in subsection (c):
(1) The rate of the state's normal contribution for its employees to
PERF, as determined under IC 5-10.2-2-11.
(2) The rate at which the state makes contributions to annuity
savings accounts on behalf of state employees who are members
of PERF, as specified in IC 5-10.2-3-2 and IC 5-10.3-7-9.
(e) This subsection applies after December 31, 2008. The budget
agency shall confirm the percentage determined by the board. The
percentage confirmed by the budget agency may not exceed the total
contribution rate paid that year by the state to PERF for state
employees.