Indiana § 5-10.3-12-24 State employer contribution; contribution rate determination; minimum
rate; amounts credited; electronic submission of contributions

Indiana Statutes

§ 5-10.3-12-24 — State employer contribution; contribution rate determination; minimum rate; amounts credited; electronic submission of contributions

Indiana § 5-10.3-12-24

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.3THE PUBLIC EMPLOYEES' RETIREMENT

Ch. 12Public Employees' Defined Contribution Plan

This text of Indiana § 5-10.3-12-24 (State employer contribution; contribution rate determination; minimum rate; amounts credited; electronic submission of contributions) 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 § 5-10.3-12-24 (2026).

Text

(a)The state shall make employer contributions to the plan based on the rate determined under this section.

(b)The state's contribution rate for the plan is equal to the employer's contribution rate for the fund as determined by the board under IC 5-10.2-2-11(b). The amount credited from the employer's contribution rate to the member's account shall not be greater than the normal cost of the fund. Any amount not credited to the member's account shall be applied to the unfunded accrued liability of the fund as determined under IC 5-10.2-2-11(a)(3) and IC 5-10.2-2-11(a)(4).

(c)The state's minimum contribution under this section is equal to three percent (3%) of the compensation of all members of the plan who are employees of the state.

(d)The state shall submit the employer contributions

Free access — add to your briefcase to read the full text and ask questions with AI

(a) The state shall make employer
contributions to the plan based on the rate determined under this
section.
(b) The state's contribution rate for the plan is equal to the
employer's contribution rate for the fund as determined by the board
under IC 5-10.2-2-11(b). The amount credited from the employer's
contribution rate to the member's account shall not be greater than the
normal cost of the fund. Any amount not credited to the member's
account shall be applied to the unfunded accrued liability of the fund
as determined under IC 5-10.2-2-11(a)(3) and IC 5-10.2-2-11(a)(4).
(c) The state's minimum contribution under this section is equal to
three percent (3%) of the compensation of all members of the plan who
are employees of the state.
(d) The state shall submit the employer contributions determined
under this section as provided in IC 5-10.2-2-12.5.