§ 5-10.2-2-22 — Retirement plans offered by miscellaneous participating entity that withdraws from or freezes participation in public employees' retirement fund

Indiana § 5-10.2-2-22

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

Text

(a) This section applies to a miscellaneous
participating entity that:
(1) either:
(A) withdraws from the public employees' retirement fund
under section 20 of this chapter; or
(B) freezes its participation in the public employees' retirement
fund as described in section 21 of this chapter; and
(2) chooses thereafter to offer a retirement plan to its employees.
(b) Except as provided in subsection (c), a miscellaneous
participating entity to which this section applies may offer a retirement
plan to its employees only by participating in the defined contribution
plan under IC 5-10.3-12.
(c) If, on July 1, 2015, a miscellaneous participating entity to which
this section applies has established or is otherwise participating in a
defined contribution plan other than the defined contribution plan
under IC 5-10.3-12, the miscellaneous participating entity may
continue to participate in the defined contribution plan in which the
miscellaneous participating entity participated on July 1, 2015.

Legislative History

As added by P.L.241-2015, SEC.7.