Indiana § 5-10.2-4-1 Eligibility for normal and early retirement

Indiana Statutes

§ 5-10.2-4-1 — Eligibility for normal and early retirement

Indiana § 5-10.2-4-1

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.2PUBLIC RETIREMENT AND DISABILITY

Ch. 4Retirement and Disability Benefits

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Bluebook

Ind. Code § 5-10.2-4-1 (2026).

Text

(a)This subsection applies to:

(1)members of the public employees' retirement fund who retire before July 1, 1995; and

(2)members of the Indiana state teachers' retirement fund who retire before May 2, 1989. A member who has reached age sixty-five (65) and has at least ten (10) years of creditable service is eligible for normal retirement.

(b)This subsection applies to members of the Indiana state teachers' retirement fund who retire after May 1, 1989, and to members of the public employees' retirement fund who retire after June 30, 1995, except as provided in section 1.7 of this chapter. A member is eligible for normal retirement if:

(1)the member is at least sixty-five (65) years of age and has at least ten (10) years of creditable service;

(2)the member is at least sixty (60) year

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(a) This subsection applies to:
(1) members of the public employees' retirement fund who retire
before July 1, 1995; and
(2) members of the Indiana state teachers' retirement fund who
retire before May 2, 1989.
A member who has reached age sixty-five (65) and has at least ten (10)
years of creditable service is eligible for normal retirement.
(b) This subsection applies to members of the Indiana state teachers'
retirement fund who retire after May 1, 1989, and to members of the
public employees' retirement fund who retire after June 30, 1995,
except as provided in section 1.7 of this chapter. A member is eligible
for normal retirement if:
(1) the member is at least sixty-five (65) years of age and has at
least ten (10) years of creditable service;
(2) the member is at least sixty (60) years of age and has at least
fifteen (15) years of creditable service; or
(3) the member's age in years plus the member's years of service
is at least eighty-five (85) and the member is at least fifty-five
(55) years of age.
(c) A member who has reached age fifty (50) and has at least fifteen
(15) years of creditable service is eligible for early retirement with a
reduced pension.
(d) A member who is eligible for normal or early retirement is
entitled to choose a retirement date on which the member's benefit
begins if the following conditions are met:
(1) The application for retirement benefits and the choice of the
date is filed on a form provided by the board.
(2) The date must be after the cessation of the member's service
and be the first day of a month.
(3) The retirement date is not more than six (6) months before the
date the application is received by the board. However, if the
board determines that a member is incompetent to file for benefits
and choose a retirement date, the retirement date may be any date
that is the first of the month after the time the member became
incompetent.
As added by Acts 1977, P.L.53, SEC.2. Amended by Acts 1980,
P.L.28, SEC.5; P.L.48-1985, SEC.1; P.L.342-1989(ss), SEC.2;
P.L.4-1990, SEC.7; P.L.10-1995, SEC.4; P.L.73-2002, SEC.2.