§ 5-10.3-2-4 — Participation in fund or state defined contribution plan by qualifying employees of eligible entity

Indiana § 5-10.3-2-4

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.3: THE PUBLIC EMPLOYEES' RETIREMENT
• Ch. 2: The Public Employees' Retirement Fund

Text

(a) The following definitions apply throughout
this section:
(1) "Defined contribution plan" refers to the public employees'
defined contribution plan established under IC 5-10.3-12.
(2) "Eligible entity" means an entity that is eligible but not
required to participate in the public employees' retirement fund.
(3) "Qualifying employee" means an employee who would be
eligible under IC 5-10.3-7 to become a member of the fund, if the
employee's employer were to participate in the fund.
(b) Except as otherwise provided in this section, if an eligible entity
wishes to offer a retirement plan to a qualifying employee, the eligible
entity must provide the retirement plan to the qualifying employee by
participating in the fund or the defined contribution plan.
(c) If, on July 1, 2015, an eligible employer is providing a retirement
plan other than the fund or the defined contribution plan to a
departmental, occupational, or other definable classification of an
eligible entity's employees, the qualifying employees in the
departmental, occupational, or other classification of employees may
continue to participate in the retirement plan, regardless of whether the
qualifying employees in the departmental, occupational, or other
definable classification begin employment with the eligible entity after
June 30, 2015.
(d) An eligible entity may offer a retirement plan other than the fund
or the defined contribution plan to an employee, if the employee is not
a qualifying employee.

Legislative History

As added by P.L.241-2015, SEC.10.