§ 5-10-9.8-2 — Establishment of fund; source of funding; administration; investment; nonreversion

Indiana § 5-10-9.8-2

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10: PUBLIC EMPLOYEE BENEFITS
• Ch. 9.8: Special Death Benefit Fund

Text

(a) The special death benefit fund is
established for the purpose of paying lump sum death benefits under
the following statutes:
(1) IC 5-10-10.
(2) IC 5-10-11.
(3) IC 10-12-6.
(4) IC 36-8-6-20.
(5) IC 36-8-7-26.
(6) IC 36-8-7.5-22.
(7) IC 36-8-8-20.
(b) The fund consists of:
(1) appropriations by the general assembly;
(2) fees remitted to the board under IC 35-33-8-3.2, IC 5-10-10-4.5, IC 5-10-10-4.8, and IC 5-10-10-4.9;
(3) contributions from employers;
(4) gifts; and
(5) interest or other investment income earned on money in the
fund.
(c) The fund shall be administered by the board. The expenses of
administering the fund shall be paid from money in the fund.
(d) The board shall invest the money in the fund not currently
needed to meet the obligations of the fund in the same manner as the
board's other funds may be invested. Interest that accrues from these
investments shall be deposited in the fund.
(e) Money in the fund at the end of a state fiscal year does not revert
to the state general fund.

Legislative History

As added by P.L.40-2017, SEC.1. Amended by P.L.99-2020, SEC.2.