§ 33-38-6-17 — Appropriation from state general fund

Indiana § 33-38-6-17

• Jurisdiction: Indiana
• Art. 38: JUDGES
• Ch. 6: Judges' Retirement System

Text

(a) For purposes of this chapter, there is
appropriated for each biennium a sum of money, computed on an
actuarially funded basis, as follows:
(1) From the state general fund for participants' retirement
benefits, the amount determined by the board, on
recommendation of an actuary, which, when added to the part of
the fund held for benefits at the date of the appropriation, is equal
to the total liability of the fund for benefits to the end of the
biennium.
(2) From the earnings on the fund, for administration purposes,
the amount required during the biennium, as determined by the
board on the basis of experience. The amount required for
administration shall be paid out as the operating expenses of other
state departments are paid.
(b) The biennial appropriation provided in this section shall be
credited to the board annually in equal installments in July of each year
of the biennium.
[Pre-2004 Recodification Citation: 33-13-8-16.]

Legislative History

As added by P.L.98-2004, SEC.17.