Indiana § 5-10.2-5-20 Employees of institutions of higher learning

Indiana Statutes

§ 5-10.2-5-20 — Employees of institutions of higher learning

Indiana § 5-10.2-5-20

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.2PUBLIC RETIREMENT AND DISABILITY

Ch. 5Restricted Benefits

This text of Indiana § 5-10.2-5-20 (Employees of institutions of higher learning) 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 § 5-10.2-5-20 (2026).

Text

(a)Notwithstanding the repeal of IC 5-10.2-2-5, a member who:

(1)is an employee of a state educational institution; and

(2)began making contributions by payroll deduction under IC 5-10.2-2-5 before January 1, 1989; may continue to make contributions after June 30, 1989, as if IC 5-10.2-2-5 had not been repealed. Such an institution may continue to make additional contributions for members on whose behalf additional contributions were being made before January 1, 1989.

(b)The employer may use contributions made under this section and IC 5-10.2-2-5 to purchase an annuity from a retirement fund for a member described in subsection (a) at any time before the member retires.

(c)Interest shall be credited on contributions made under this section and IC 5-10.2-2-5 as specified in IC 5-10.2-2

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(a) Notwithstanding the repeal of IC 5-10.2-2-5, a member who:
(1) is an employee of a state educational institution; and
(2) began making contributions by payroll deduction under IC 5-10.2-2-5 before January 1, 1989;
may continue to make contributions after June 30, 1989, as if IC 5-10.2-2-5 had not been repealed. Such an institution may continue to
make additional contributions for members on whose behalf additional
contributions were being made before January 1, 1989.
(b) The employer may use contributions made under this section and
IC 5-10.2-2-5 to purchase an annuity from a retirement fund for a
member described in subsection (a) at any time before the member
retires.
(c) Interest shall be credited on contributions made under this
section and IC 5-10.2-2-5 as specified in IC 5-10.2-2-4 (before its
expiration).
(d) Nothing in this section or in the repeal of IC 5-10.2-2-5 may be
construed to affect in any way the ability of a state educational
institution to make contributions on behalf of its employees to a tax
deferred annuity under Section 403(b) of the Internal Revenue Code.
(e) A member who:
(1) has at least five (5) years of credited service;
(2) is an employee of a state educational institution; and
(3) is transferred from a position covered by the Indiana state
teachers' retirement fund or the Indiana public employees'
retirement fund to a position not covered by either of the funds;
shall continue to receive credit, for the determination of eligibility for
benefits only, for up to five (5) additional years of service with the
institution, subject to all the provisions of the retirement fund law. The
additional service credit and the salary in the non-covered position
shall not be included in the computation of benefits from the retirement
fund.