Indiana Statutes
§ 5-10.3-6-10 — Transfer of assets
Indiana § 5-10.3-6-10
JurisdictionIndiana
Title 5STATE AND LOCAL ADMINISTRATION
Art. 10.3THE PUBLIC EMPLOYEES' RETIREMENT
Ch. 6Participation by Political Subdivisions
This text of Indiana § 5-10.3-6-10 (Transfer of assets) 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 § 5-10.3-6-10 (2026).
Text
(a)If a political subdivision with a
retirement system becomes a participant, the moneys and securities in
the retirement system shall be transferred to the fund. If the securities
to be transferred are not acceptable to the board, they shall be
converted to cash, which shall be transferred to the fund.
(b)If there are insufficient funds transferred under subsection (a),
then the political subdivision shall pay the fund, either in a single
payment or in installment payments approved by the board, the amount
needed. If the political subdivision is unable to make any payment, the
board may reduce proportionately each benefit payable to retired
members.
(c)The liabilities of a retirement system which is transferred to the
fund are not liabilities of the fund, except as provided by agreemen
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Nearby Sections
15
§ 5-1-1-1
Validation§ 5-1-1-2
Repealed§ 5-1-10-1
Issuance; purpose; restrictions§ 5-1-11-7
Restrictions on powers§ 5-1-11.5-1
"ADM"§ 5-1-11.5-2
"Bonds"§ 5-1-11.5-3
Application to certain school corporations§ 5-1-12-1
"Municipal corporation" definedCite This Page — Counsel Stack
Bluebook (online)
Indiana § 5-10.3-6-10, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/5-10.3-6-10.