Indiana § 5-10.3-5-7 Actuarial reports; status of reserve account; charges against difference
between reserves in account and accrued liability

Indiana Statutes

§ 5-10.3-5-7 — Actuarial reports; status of reserve account; charges against difference between reserves in account and accrued liability

Indiana § 5-10.3-5-7

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.3THE PUBLIC EMPLOYEES' RETIREMENT

Ch. 5Accounts; Investments

This text of Indiana § 5-10.3-5-7 (Actuarial reports; status of reserve account; charges against difference between reserves in account and accrued liability) 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 § 5-10.3-5-7 (2026).

Text

(a)After each fiscal year, the actuary shall report the status of the reserve account for persons receiving benefits from the fund. The report must contain a statement of the reserves in the account and the accrued liability for these persons.

(b)Taking into consideration the actuary's report, the board shall after June 30, 1985, charge the costs of postretirement benefit increases against any difference between the reserves in the account and the accrued liability. However, the board may withhold from the difference, as a contingency reserve, an amount less than or equal to two percent (2%) of the reserve. If the amount of the difference is insufficient to meet the costs of the postretirement benefit increases, the excess shall be charged against each employer's account in the retiremen

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(a) After each fiscal year, the actuary shall
report the status of the reserve account for persons receiving benefits
from the fund. The report must contain a statement of the reserves in
the account and the accrued liability for these persons.
(b) Taking into consideration the actuary's report, the board shall
after June 30, 1985, charge the costs of postretirement benefit increases
against any difference between the reserves in the account and the
accrued liability. However, the board may withhold from the
difference, as a contingency reserve, an amount less than or equal to
two percent (2%) of the reserve. If the amount of the difference is
insufficient to meet the costs of the postretirement benefit increases,
the excess shall be charged against each employer's account in the
retirement allowance account on a prorata basis.
As added by Acts 1977, P.L.53, SEC.3. Amended by Acts
1977(ss), P.L.2, SEC.3; P.L.50-1985, SEC.2.