Indiana § 5-10.3-8-15 Allocation of benefits; distribution of death benefit

Indiana Statutes

§ 5-10.3-8-15 — Allocation of benefits; distribution of death benefit

Indiana § 5-10.3-8-15

Title 5STATE AND LOCAL ADMINISTRATION

Art. 10.3THE PUBLIC EMPLOYEES' RETIREMENT

Ch. 8Benefits

This text of Indiana § 5-10.3-8-15 (Allocation of benefits; distribution of death benefit) 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 § 5-10.3-8-15 (2026).

Text

(a)The board may adopt rules to allow a member who designates more than one (1) beneficiary to allocate benefit shares in percentage increments.

(b)This subsection applies in the case of a member who dies after June 30, 2013. Notwithstanding a contrary collateral agreement, court order, process, attachment, or levy, the right to receive a death benefit under IC 5-10.2 or this article vests with the designated beneficiary on file with the fund at the time of the member's death. The fund shall distribute the death benefit to the designated beneficiary or the designated beneficiary's estate in accordance with IC 5-10.2 and this article.

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(a) The board may adopt rules to allow a
member who designates more than one (1) beneficiary to allocate
benefit shares in percentage increments.
(b) This subsection applies in the case of a member who dies after
June 30, 2013. Notwithstanding a contrary collateral agreement, court
order, process, attachment, or levy, the right to receive a death benefit
under IC 5-10.2 or this article vests with the designated beneficiary on
file with the fund at the time of the member's death. The fund shall
distribute the death benefit to the designated beneficiary or the
designated beneficiary's estate in accordance with IC 5-10.2 and this
article.