Indiana § 5-10.2-2-2 Separate accounts and subaccounts

Indiana Statutes

§ 5-10.2-2-2 — Separate accounts and subaccounts

Indiana § 5-10.2-2-2

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.2PUBLIC RETIREMENT AND DISABILITY

Ch. 2The Retirement Funds

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Bluebook

Ind. Code § 5-10.2-2-2 (2026).

Text

(a)The board shall maintain the following separate accounts in the public employees' retirement fund:

(1)The annuity savings account.

(2)The retirement allowance account.

(3)A supplemental allowance reserve account for the purpose of paying postretirement benefit adjustments, including postretirement benefit increases, thirteenth checks, and other benefit changes or adjustments granted by the general assembly after June 30, 2018, to members of the public employees' retirement fund. The account consists of:

(A)amounts allotted to the account by the board from amounts transferred to the Indiana public retirement system under IC 4-30-16-3;

(B)amounts appropriated or transferred to the account by the general assembly;

(C)contributions from employers under IC 5-10.2-12-3; and

(D)donatio

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(a) The board shall maintain the following
separate accounts in the public employees' retirement fund:
(1) The annuity savings account.
(2) The retirement allowance account.
(3) A supplemental allowance reserve account for the purpose of
paying postretirement benefit adjustments, including
postretirement benefit increases, thirteenth checks, and other
benefit changes or adjustments granted by the general assembly
after June 30, 2018, to members of the public employees'
retirement fund. The account consists of:
(A) amounts allotted to the account by the board from amounts
transferred to the Indiana public retirement system under IC 4-30-16-3;
(B) amounts appropriated or transferred to the account by the
general assembly;
(C) contributions from employers under IC 5-10.2-12-3; and
(D) donations, gifts, bequests, devises, and grants made to the
account.
(b) The board shall maintain the following two (2) separate accounts
in the Indiana state teachers' retirement fund:
(1) The pre-1996 account.
(2) The 1996 account.
(c) Within each account specified in subsection (b), the board shall
maintain the following separate subaccounts:
(1) The annuity savings account.
(2) The retirement allowance account.
(3) A supplemental allowance reserve account for the purpose of
paying postretirement benefit adjustments, including
postretirement benefit increases, thirteenth checks, and other
benefit changes or adjustments granted by the general assembly
after June 30, 2018, to members of the Indiana state teachers'
retirement fund.
(d) The supplemental allowance reserve account established under
subsection (c)(3) for the pre-1996 account consists of:
(1) amounts allotted to the account by the board from amounts
transferred to the Indiana public retirement system under IC 4-30-16-3;
(2) amounts appropriated or transferred to the account by the
general assembly; and
(3) donations, gifts, bequests, devises, and grants made to the
account.
(e) The supplemental allowance reserve account established under
subsection (c)(3) for the 1996 account consists of:
(1) amounts allotted to the account by the board from amounts
transferred to the Indiana public retirement system under IC 4-30-16-3;
(2) amounts appropriated or transferred to the account by the
general assembly;
(3) contributions from employers under IC 5-10.2-12-3; and
(4) donations, gifts, bequests, devises, and grants made to the
account.
As added by Acts 1977, P.L.53, SEC.2. Amended by
P.L.35-1985, SEC.3; P.L.54-1993, SEC.5; P.L.23-2011, SEC.8;
P.L.127-2018, SEC.5.