§ 20-24-6-7 — Participation of employees in retirement fund

(a) A charter school may participate in any of
the following:
(1) The Indiana state teachers' retirement fund in accordance with
IC 5-10.4.
(2) The public employees' retirement fund in accordance with IC 5-10.3.
(3) Another employee pension or retirement fund.
(b) Except as provided in subsection (e), a person who teaches in a
charter school is a member of the Indiana state teachers' retirement
fund. Service in a charter school is creditable service for purposes of
IC 5-10.4.
(c) Except as provided in subsection (e), a person who:
(1) is a local school employee of a charter school; and
(2) is not eligible to participate in the Indiana state teachers'
retirement fund;
is a member of the public employees' retirement fund.
(d) The board of trustees of the Indiana public retirement system
shall implement this section through the organizer of the charter
school, subject to and conditioned upon receiving any approvals the
board considers appropriate from the Internal Revenue Service and the
United States Department of Labor.
(e) Charter school employees may participate in a private pension
or retirement program, if the organizer of the charter school offers the
opportunity to participate in the program.
[Pre-2005 Elementary and Secondary Education
Recodification Citation: 20-5.5-6-7.]

Legislative History

As added by P.L.1-2005, SEC.8. Amended by P.L.2-2006, SEC.105; P.L.234-2007, SEC.226; P.L.35-2012, SEC.101.