Indiana § 5-10.2-4-1.5 Estimated benefit payments

Indiana Statutes

§ 5-10.2-4-1.5 — Estimated benefit payments

Indiana § 5-10.2-4-1.5

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.2PUBLIC RETIREMENT AND DISABILITY

Ch. 4Retirement and Disability Benefits

This text of Indiana § 5-10.2-4-1.5 (Estimated benefit payments) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-10.2-4-1.5 (2026).

Text

5.

(a)A fund may calculate and pay an estimated retirement benefit of the pension portion to a member if:

(1)the member has applied for a retirement benefit and has chosen a retirement date on which the retirement benefit is to begin;

(2)the member's membership records are incomplete or have not been certified; and

(3)the member's membership records that have been submitted to the fund establish that the member is entitled to a retirement benefit.

(b)After June 30, 2009, if a fund calculates and pays an estimated benefit under this section, the estimated benefit must be at least eighty-five percent (85%) of the pension portion of the benefit determined under the fund's records on service and compensation information.

(c)If an estimated benefit is paid to a member under this section,

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5. (a) A fund may calculate and pay an
estimated retirement benefit of the pension portion to a member if:
(1) the member has applied for a retirement benefit and has
chosen a retirement date on which the retirement benefit is to
begin;
(2) the member's membership records are incomplete or have not
been certified; and
(3) the member's membership records that have been submitted
to the fund establish that the member is entitled to a retirement
benefit.
(b) After June 30, 2009, if a fund calculates and pays an estimated
benefit under this section, the estimated benefit must be at least
eighty-five percent (85%) of the pension portion of the benefit
determined under the fund's records on service and compensation
information.
(c) If an estimated benefit is paid to a member under this section,
the fund shall, after all membership records have been submitted to the
fund and certified, determine the actual retirement benefit to which the
member is entitled. After determining the actual retirement benefit to
which the member is entitled, the fund shall temporarily adjust the
actual retirement benefit that is paid to the member to reconcile any
underpayment or overpayment of benefits to the member that resulted
from the payment of estimated benefits. The fund may make the
temporary adjustment to the member's actual retirement benefit over a
reasonable time, as determined by the board.