§ 5-10.2-2-11.5 — Employer contribution rates for Vincennes University

Indiana § 5-10.2-2-11.5

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.2: PUBLIC RETIREMENT AND DISABILITY
• Ch. 2: The Retirement Funds

Text

5. (a) As used in this section, "Vincennes
University" refers to the state educational institution established under
IC 21-25-2.
(b) Notwithstanding section 11 of this chapter or any other law,
Vincennes University is not required to make employer contributions
to the Indiana state teachers' retirement fund at any time for the
employment during the period July 1, 2001, through June 30, 2009, of
Vincennes University's employees who are members of the Indiana
state teachers' retirement fund and are covered by the Indiana state
teachers' retirement fund pre-1996 account.
(c) This subsection applies to employer contributions made by
Vincennes University to the Indiana state teachers' retirement fund on
account of the employment after June 30, 2009, of Vincennes
University's employees who are members of the Indiana state teachers'
retirement fund and are covered by the Indiana state teachers'
retirement fund pre-1996 account. Notwithstanding section 11 of this
chapter or any other law, Vincennes University is required to pay only
the following employer contributions to the Indiana state teachers'
retirement fund for those employees for the specified years:
(1) For the year beginning July 1, 2009, fifteen percent (15%) of
the employer contribution otherwise determined for Vincennes
University.
(2) For the year beginning July 1, 2010, twenty percent (20%) of
the employer contribution otherwise determined for Vincennes
University.
(3) For the year beginning July 1, 2011, twenty-five percent
(25%) of the employer contribution otherwise determined for
Vincennes University.
(4) For the year beginning July 1, 2012, thirty-five percent (35%)
of the employer contribution otherwise determined for Vincennes
University.
(5) For the year beginning July 1, 2013, fifty percent (50%) of the
employer contribution otherwise determined for Vincennes
University.
(6) For the year beginning July 1, 2014, seventy-five percent
(75%) of the employer contribution otherwise determined for
Vincennes University.
(7) For each year beginning after June 30, 2015, one hundred
percent (100%) of the employer contribution otherwise
determined for Vincennes University.
Payments made according to this subsection shall be considered
payment in full of employer contributions.

Legislative History

As added by P.L.182-2009(ss), SEC.71.