Indiana § 5-10-8-8.5 Establishment of retiree health benefit trust fund

Indiana Statutes

§ 5-10-8-8.5 — Establishment of retiree health benefit trust fund

Indiana § 5-10-8-8.5

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10PUBLIC EMPLOYEE BENEFITS

Ch. 8Group Insurance for Public Employees

This text of Indiana § 5-10-8-8.5 (Establishment of retiree health benefit trust fund) 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 § 5-10-8-8.5 (2026).

Text

5.

(a)The retiree health benefit trust fund is established to provide funding for a retiree health benefit plan developed under IC 5-10-8.5.

(b)The trust fund shall be administered by the INPRS. The expenses of administering the trust fund shall be paid from money in the trust fund. The trust fund consists of cigarette tax revenues deposited in the fund under IC 6-7-1-28.1(6) and other appropriations, revenues, or transfers to the trust fund under IC 4-12-1.

(c)The INPRS shall invest the money in the trust fund not currently needed to meet the obligations of the trust fund in the same manner and with the same limitations described in IC 5-10.5-4-1 and IC 5-10.5-5-1.

(d)The trust fund is considered a trust fund for purposes of IC 4-9.1-1-7. Money may not be transferred, assigned, or oth

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5. (a) The retiree health benefit trust fund is
established to provide funding for a retiree health benefit plan
developed under IC 5-10-8.5.
(b) The trust fund shall be administered by the INPRS. The
expenses of administering the trust fund shall be paid from money in
the trust fund. The trust fund consists of cigarette tax revenues
deposited in the fund under IC 6-7-1-28.1(6) and other appropriations,
revenues, or transfers to the trust fund under IC 4-12-1.
(c) The INPRS shall invest the money in the trust fund not currently
needed to meet the obligations of the trust fund in the same manner and
with the same limitations described in IC 5-10.5-4-1 and IC 5-10.5-5-1.
(d) The trust fund is considered a trust fund for purposes of IC 4-9.1-1-7. Money may not be transferred, assigned, or otherwise
removed from the trust fund by the state board of finance, the budget
agency, or any other state agency.
(e) The trust fund shall be established and administered in a manner
that complies with Internal Revenue Code requirements concerning
health reimbursement arrangement (HRA) trusts. Contributions by the
state to the trust fund are irrevocable. All assets held in the trust fund
must be held for the exclusive benefit of participants of the retiree
health benefit plan developed under IC 5-10-8.5 and their beneficiaries.
All assets in the trust fund:
(1) are dedicated exclusively to providing benefits to participants
of the plan and their beneficiaries according to the terms of the
plan; and
(2) are exempt from levy, sale, garnishment, attachment, or other
legal process.
(f) Money in the trust fund does not revert to the state general fund
at the end of any state fiscal year.
(g) The money in the trust fund is appropriated to the INPRS for
providing the retiree health benefit plan developed under IC 5-10-8.5.
(h) The budget agency may transfer appropriations from federal or
dedicated funds to the retiree health benefit trust fund.