§ 5-10.2-2-24 — Transition from guaranteed program to stable value fund program

Indiana § 5-10.2-2-24

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

Text

(a) After December 31, 2016, a member
may not make contributions to the guaranteed program.
(b) For those members who as of December 31, 2016, have
designated the guaranteed program as the investment program to
receive all or part of the contributions to the member's annuity savings
account, the board shall designate as a substitute one (1) or more
alternative investment programs that are to receive those contributions
after December 31, 2016. The designation by the board of an
alternative investment program to receive a member's contributions
under this subsection remains in effect until the member makes another
allowable designation.
(c) After December 31, 2016, if a member has allocated all or part
of the amount credited to the member to the guaranteed program, the
board shall exchange the amount allocated to the guaranteed program
by the member for an equivalent market value allocation to the stable
value fund.
(d) The board shall eliminate the guaranteed program on January 1,
2017.
(e) After December 31, 2016, a member may allocate contributions
and money invested in the alternative investment program to the stable
value fund.

Legislative History

As added by P.L.193-2016, SEC.8.