Indiana § 5-10.3-12-30 Member accounts; disability withdrawals; forms of payment

Indiana Statutes

§ 5-10.3-12-30 — Member accounts; disability withdrawals; forms of payment

Indiana § 5-10.3-12-30

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.3THE PUBLIC EMPLOYEES' RETIREMENT

Ch. 12Public Employees' Defined Contribution Plan

This text of Indiana § 5-10.3-12-30 (Member accounts; disability withdrawals; forms of payment) 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 § 5-10.3-12-30 (2026).

Text

(a)If a member becomes disabled while in a covered position, subject to any federal law limitations concerning qualified plan distributions and the member furnishing proof of the member's qualification for Social Security disability benefits to the board, to the extent that the member is vested, the member may make a full or partial withdrawal from the member's account.

(b)The member may elect to have the withdrawal paid as:

(1)a lump sum;

(2)a direct rollover to another eligible retirement plan; or

(3)a monthly annuity in accordance with the rules of the board.

(c)The board may establish a minimum account balance or a minimum monthly payment amount in order for a member to select the monthly annuity option.

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(a) If a member becomes disabled while
in a covered position, subject to any federal law limitations concerning
qualified plan distributions and the member furnishing proof of the
member's qualification for Social Security disability benefits to the
board, to the extent that the member is vested, the member may make
a full or partial withdrawal from the member's account.
(b) The member may elect to have the withdrawal paid as:
(1) a lump sum;
(2) a direct rollover to another eligible retirement plan; or
(3) a monthly annuity in accordance with the rules of the board.
(c) The board may establish a minimum account balance or a
minimum monthly payment amount in order for a member to select the
monthly annuity option.