§ 33-39-7-12 — Contributions

Indiana § 33-39-7-12

• Jurisdiction: Indiana
• Art. 39: PROSECUTING ATTORNEYS
• Ch. 7: Retirement Fund

Text

(a) Except as otherwise provided in this
section, each participant shall make contributions to the fund as
follows:
(1) A participant described in section 8(a)(1) of this chapter shall
make contributions of six percent (6%) of each payment of salary
received for services after December 31, 1989.
(2) A participant described in section 8(a)(2) or 8(a)(3) of this
chapter shall make contributions of six percent (6%) of each
payment of salary received for services after June 30, 1994.
A participant's contributions shall be deducted from the participant's
monthly salary by the state comptroller and credited to the fund.
(b) The state may pay the contributions for a participant. The state
may elect to pay the contribution for the participant as a pickup under
Section 414(h) of the Internal Revenue Code.
(c) After a participant has contributed to the fund as provided in
subsection (a) for twenty-two (22) years, the participant is not required
to make additional contributions to the fund.
(d) After December 31, 2011, the state comptroller shall submit the
contributions paid by or on behalf of a participant under this section by
electronic funds transfer in accordance with section 12.5 of this
chapter.
[Pre-2004 Recodification Citation: 33-14-9-11.]

Legislative History

As added by P.L.98-2004, SEC.18. Amended by P.L.13-2011, SEC.13; P.L.160-2013, SEC.3; P.L.9-2024, SEC.521.