§ 5-10-12-3 — Eligibility

Indiana § 5-10-12-3

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10: PUBLIC EMPLOYEE BENEFITS
• Ch. 12: Cafeteria Plan Benefits for Certain Unused Vacation,

Text

(a) Subject to subsections (b) and (c), an
employee who:
(1) has at least ten (10) years of creditable service with a state
agency;
(2) retires after June 30, 2000; and
(3) has accrued and unused sick days, vacation days, or personal
days on the employee's retirement date;
is entitled to have the amounts specified in section 5 of this chapter
deposited by the state into a cafeteria plan under Section 125 of the
Internal Revenue Code.
(b) The provisions of this chapter requiring the department to make
deposits into a cafeteria plan on behalf of retired employees described
in subsection (a) apply only if the department has received from the
Internal Revenue Service any approvals or rulings that the department
considers necessary or appropriate for the cafeteria plan.
(c) The provisions of this chapter requiring the department to make
deposits into a cafeteria plan on behalf of retired employees described
in subsection (a) do not apply if the plan described in IC 5-10-1.1-7.5(b) is implemented and the deferred compensation
committee has received from the Internal Revenue Service any rulings
or determination letters that the committee considers necessary or
appropriate for the plan described in IC 5-10-1.1-7.5(b).

Legislative History

As added by P.L.195-1999, SEC.8. Amended by P.L.184-2001, SEC.7.