§ 36-8-8-4 — Fund established; managed by system board

(a) There is established a police officers' and
firefighters' pension and disability fund to be known as the 1977 fund.
The 1977 fund consists of fund member and employer contributions,
plus the earnings on them, to be used to make benefit payments to fund
members and their survivors in the amounts and under the conditions
specified in this chapter.
(b) The system board shall administer the 1977 fund, which may be
commingled for investment purposes with other funds administered by
the Indiana public retirement system. All actuarial data shall be
computed on the total membership of the fund, and the cost of
participation is the same for all employers in the fund. The fund
member and employer contributions shall be recorded separately for
each employer.
[Pre-Local Government Recodification Citations: subsection
(a) formerly 19-1-17.8-1 part; 19-1-17.8-2(a); 19-1-36.5-1 part;
19-1-36.5-2(a); subsection (b) formerly 19-1-17.8-2(b);
19-1-36.5-2(b).]
As added by Acts 1981, P.L.309, SEC.59. Amended by
P.L.201-1984, SEC.1; P.L.342-1985, SEC.5; P.L.119-2000, SEC.8;
P.L.23-2011, SEC.27; P.L.35-2012, SEC.116.