§ 5-10-8.5-14 — Account; subaccounts; administrative costs

Indiana § 5-10-8.5-14

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10: PUBLIC EMPLOYEE BENEFITS
• Ch. 8.5: Retirement Medical Benefits Account

Text

(a) The account may consist of the
following:
(1) Contributions made by a participant's employer to the account
under section 15 or 16 of this chapter.
(2) All earnings on investments or deposits of the account.
(3) All contributions or payments to the account made in a
manner provided by the general assembly.
(b) The administrative costs of the account shall be paid from the
earnings of the account before the earnings are credited to participants'
subaccounts.
(c) The INPRS shall establish a subaccount for each participant.
Each participant's subaccount may be credited with:
(1) the contributions made to the account on behalf of the
participant under this chapter; and
(2) after the costs described in subsection (b) are paid, the
earnings attributable to the balance of the subaccount offset by the
administrative costs not covered by subsection (b).

Legislative History

As added by P.L.44-2007, SEC.1. Amended by P.L.108-2019, SEC.91.