Indiana § 5-10-1.1-5 State employees' deferred compensation plan; contracts; funding,
selection by bidding; review

Indiana Statutes

§ 5-10-1.1-5 — State employees' deferred compensation plan; contracts; funding, selection by bidding; review

Indiana § 5-10-1.1-5

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10PUBLIC EMPLOYEE BENEFITS

Ch. 1.1Public Employees Deferred Compensation Plans

This text of Indiana § 5-10-1.1-5 (State employees' deferred compensation plan; contracts; funding, selection by bidding; review) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-10-1.1-5 (2026).

Text

(a)The state comptroller shall provide for the administration of the state employees' deferred compensation plan. The state comptroller may, at the state comptroller's option, enter into a contract or contracts with an individual or individuals, incorporated or unincorporated organizations or associations, the state of Indiana, units of local government, agencies of the state or units of local government, or a group of such persons acting in concert, for the provision of all or part of the services involved in the administration of the plan. Participation in the plan shall be by a specific written agreement between each employee and the state which agreement shall provide for the deferral of such amount of compensation as requested by the employee. With each deferral of compensation, the

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(a) The state comptroller shall provide for the
administration of the state employees' deferred compensation plan. The
state comptroller may, at the state comptroller's option, enter into a
contract or contracts with an individual or individuals, incorporated or
unincorporated organizations or associations, the state of Indiana, units
of local government, agencies of the state or units of local government,
or a group of such persons acting in concert, for the provision of all or
part of the services involved in the administration of the plan.
Participation in the plan shall be by a specific written agreement
between each employee and the state which agreement shall provide
for the deferral of such amount of compensation as requested by the
employee. With each deferral of compensation, the employee shall
receive a memorandum of the amount by which the employee's gross
compensation is reduced by reason of the deferment of compensation,
which amount shall not be included as a part of the employee's taxable
compensation as to that period.
(b) The funding utilized under the state employees' deferred
compensation plan shall have been reviewed and selected by the
deferred compensation committee based on a competitive bidding
process as established by such specifications deemed appropriate by
the deferred compensation committee. Nothing in this section shall be
construed as requiring a limitation on the number and variety of
funding contracts which may be selected as a result of this bidding
process.
(c) In no case shall funding of the state employees' deferred
compensation plan be made except through persons or companies
authorized and duly licensed by this state and applicable federal
regulatory agencies to offer such funding programs.
Formerly: Acts 1975, P.L.42, SEC.1. As amended by Acts 1977,
P.L.51, SEC.3; Acts 1980, P.L.27, SEC.3; P.L.15-1998, SEC.3;
P.L.9-2024, SEC.124.