§ 36-8-10-2 — Definitions

As used in this chapter:
"Board" refers to the sheriff's merit board established under this
chapter.
"Department" refers to the sheriff's department of a county.
"Eligible employee" means the sheriff of a county or a county police
officer.
"Employee beneficiary" means an eligible employee who has
completed an application to become an employee beneficiary and who
has had the proper deductions made from the eligible employee's wages
as required in the pension trust agreement.
"Net amount paid into the trust fund from wages of an employee
beneficiary" means the amount of money actually paid in from the
wages of the employee beneficiary, plus interest at the rate of three
percent (3%) compounded annually and less a sum including interest
at the same rate, paid from the trust fund to the employee beneficiary
or to a governmental fund for the credit or benefit of the employee
beneficiary.
"Pension engineers" means technical consultants qualified to
supervise and assist in the establishment, maintenance, and operation
of a pension trust on an actuarially sound basis.
"Trust fund" means the assets of the pension trust and consists of
voluntary contributions from the department, money paid from the
wages of employee beneficiaries, and other payments or contributions
made to the pension trust, including the income and proceeds derived
from the investment of them.
"Trustee" refers to the trustee of the pension trust, who may be one
(1) or more corporate trustees or the treasurer of the county serving
under bond.
[Pre-Local Government Recodification Citation: 17-3-14-10
part.]
As added by Acts 1981, P.L.309, SEC.61. Amended by
P.L.127-2017, SEC.262.