Indiana § 33-39-7-21 Withdrawal of funds after participant dies; surviving spouse; children;
estate

Indiana Statutes

§ 33-39-7-21 — Withdrawal of funds after participant dies; surviving spouse; children; estate

Indiana·Art. 39 PROSECUTING ATTORNEYS·Ch. 7 Retirement Fund

(a)If benefits are not payable to the survivors of a participant who dies, and if a withdrawal application is filed with the board by the survivors or the participant's estate, the total of the participant's contributions, plus interest at a rate specified by rule by the board and minus any payments made to the participant, shall be paid to:

(1)the surviving spouse of the participant or the children of the participant, as designated by the participant;

(2)any dependents of the participant, if a spouse or designated child does not survive; or

(3)the participant's estate, if a spouse, designated child, or other dependent does not survive.

(b)The amount owed a spouse, designated children, other dependents, or estate under subsection (a) is payable not later than sixty (60) days after the

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(a) If benefits are not payable to the
survivors of a participant who dies, and if a withdrawal application is
filed with the board by the survivors or the participant's estate, the total
of the participant's contributions, plus interest at a rate specified by rule
by the board and minus any payments made to the participant, shall be
paid to:
(1) the surviving spouse of the participant or the children of the
participant, as designated by the participant;
(2) any dependents of the participant, if a spouse or designated
child does not survive; or
(3) the participant's estate, if a spouse, designated child, or other
dependent does not survive.
(b) The amount owed a spouse, designated children, other
dependents, or estate under subsection (a) is payable not later than
sixty (60) days after the date of receipt of the withdrawal application,
or in monthly installments, as the recipient elects.
[Pre-2004 Recodification Citation: 33-14-9-19.]

Indiana § 33-39-7-21 (Withdrawal of funds after participant dies; surviving spouse; children; estate) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.