§ 36-8-8-8 — Employee contributions; lump sum withdrawal on termination of employment

Indiana § 36-8-8-8

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 8: PUBLIC SAFETY
• Ch. 8: 1977 Police Officers' and Firefighters' Pension and

Text

(a) Each fund member shall contribute during
the period of the fund member's employment or for thirty-two (32)
years, whichever is shorter, an amount equal to six percent (6%) of the
salary of a first class patrolman or firefighter. However, the employer
may pay all or a part of the contribution for the member. The amount
of the contribution, other than contributions paid on behalf of a
member, shall be deducted each pay period from each fund member's
salary by the disbursing officer of the employer. The employer shall
send to the system board each year on March 31, June 30, September
30, and December 31, for the calendar quarters ending on those dates,
or an alternate date established by the rules of the system board, a
certified list of fund members and a warrant issued by the employer for
the total amount deducted for fund members' contributions.
(b) After December 31, 2011, an employer shall submit:
(1) the list described in subsection (a) in a uniform format through
a secure connection over the Internet or through other electronic
means specified by the system board; and
(2) the contributions paid by or on behalf of a member under
subsection (a) by electronic funds transfer.
(c) Except as provided in section 7(n) or 7.2 of this chapter, if a fund
member ends the fund member's employment other than by death or
disability before the fund member completes twenty (20) years of
active service, the system board shall return to the fund member in a
lump sum the fund member's contributions plus interest at a rate
specified by rule by the system board. If the fund member returns to
service, the fund member is entitled to credit for the years of service for
which the fund member's contributions were refunded if the fund
member repays the amount refunded to the fund member plus interest
at a rate specified by rule by the system board in either a lump sum or
a series of payments determined by the system board.
[Pre-Local Government Recodification Citations:
19-1-17.8-6; 19-1-36.5-6.]
As added by Acts 1981, P.L.309, SEC.59. Amended by Acts
1981, P.L.182, SEC.10; P.L.312-1989, SEC.4; P.L.180-2007, SEC.10;
P.L.13-2011, SEC.17; P.L.16-2011, SEC.13; P.L.6-2012, SEC.251;
P.L.35-2012, SEC.121; P.L.117-2013, SEC.2; P.L.92-2021,
SEC.15.