Indiana Statutes
§ 20-28-9-19 — Retirement, savings, or severance pay plan
(a)If a governing body of a school
corporation agrees to a retirement, savings, or severance pay plan with
a teacher or with an exclusive representative under IC 20-29, the
benefits may be paid to:
(1)the teacher who is eligible under a negotiated retirement,
savings, or severance pay plan; or
(2)in the case of the teacher's death:
(A)the teacher's designated beneficiary; or
(B)the teacher's estate, if there is no designated beneficiary.
Payments may be made in a lump sum or in installments as agreed
upon by the parties or to a savings plan established under IC 5-10-1.1-1(2).
(b)Notwithstanding IC 6-1.1-20, the payments under this section
shall be made from the education fund of the school corporation and
may be made for a period exceeding one (1) year.
[Pre-2005 Elementary and Secon
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Legislative History
As added by P.L.1-2005, SEC.12. Amended by P.L.244-2017,
SEC.54.
Nearby Sections
15
§ 20-17-1-1
"Prior law"§ 20-17-1-2
Purpose of recodification§ 20-17-1-3
Statutory construction of recodification§ 20-17-1-4
Effect of recodification§ 20-17-1-5
Recodification of prior law§ 20-17-1-6
References to repealed statutes§ 20-17-1-7
References to citations§ 20-17-1-8
References to prior rules§ 20-17-1-9
References to prior law§ 20-17-2-1
"Prior law"§ 20-17-2-2
Purpose of recodification§ 20-17-2-3
Statutory construction of recodification§ 20-17-2-4
Effect of recodification§ 20-17-2-5
Recodification of prior law§ 20-17-2-6
References to repealed statutes