§ 5-10.3-12-20 — Plan membership; election; fund membership

Indiana § 5-10.3-12-20

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.3: THE PUBLIC EMPLOYEES' RETIREMENT
• Ch. 12: Public Employees' Defined Contribution Plan

Text

(a) This section applies only to an
individual who, on or after the effective date of the plan, becomes for
the first time a full-time employee of the state in a position that would
otherwise be eligible for membership in the fund under IC 5-10.3-7.
(b) An individual to whom this section applies may elect to become
a member of the plan for all service credit that the member accrues in
a covered position as an employee of the state. An election under this
section:
(1) must be made in writing;
(2) must be filed with the board, on a form prescribed by the
board; and
(3) is irrevocable.
(c) Except as provided in section 32(a) of this chapter, an individual
who does not elect to become a member of the plan becomes a member
(as defined in IC 5-10.3-1-5) of the fund for all service credit that the
member accrues in a covered position as an employee of the state.

Legislative History

As added by P.L.22-2011, SEC.2. Amended by P.L.241-2015, SEC.29; P.L.209-2016, SEC.4.