Indiana § 21-38-7-8 Contributing fund members; date participation is effective

Indiana Statutes

§ 21-38-7-8 — Contributing fund members; date participation is effective

Indiana·Title 21 HIGHER EDUCATION·Art. 38 STATE EDUCATIONAL INSTITUTIONS:·Ch. 7 Transfer of Membership From Indiana State Teachers'

If an employee is a contributing fund member at the time the employee elects under section 5 of this chapter to participate in a retirement benefit system:

(1)the employee's rights in the fund on the date the employee's election is effective are the same as if the employee had terminated employment on that date; and

(2)the employee's election and suspension of membership in the fund are effective on July 1 immediately following the date the employee files the election with the state educational institution. [Pre-2007 Higher Education Recodification Citations: 21-6.1-8-2(f); 21-6.1-8-2(c).]

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If an employee is a contributing fund member
at the time the employee elects under section 5 of this chapter to
participate in a retirement benefit system:
(1) the employee's rights in the fund on the date the employee's
election is effective are the same as if the employee had
terminated employment on that date; and
(2) the employee's election and suspension of membership in the
fund are effective on July 1 immediately following the date the
employee files the election with the state educational institution.
[Pre-2007 Higher Education Recodification Citations:
21-6.1-8-2(f); 21-6.1-8-2(c).]

Indiana § 21-38-7-8 (Contributing fund members; date participation is effective) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.