§ 5-10.4-5-14 — Benefits exempted from legal process; reimbursement of employers; withholding of payments while charges of criminal taking from employer pending

Indiana § 5-10.4-5-14

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.4: STATE TEACHERS' RETIREMENT FUND
• Ch. 5: Benefits

Text

(a) The benefits payable from the fund are
exempt from seizure or levy on attachment, supplemental process, and
all other processes. However, the member's contributions or benefits,
or both, may be transferred by the board to reimburse the member's
employer for loss resulting from the member's criminal taking of the
employer's property if the board receives adequate proof of the loss.
The loss resulting from the member's criminal taking of the member's
employer's property must be proven by an order for restitution in favor
of the employer issued by the sentencing court following a felony or
misdemeanor conviction.
(b) The board may withhold payment of a member's contributions
and interest if the employer of the member notifies the board that
felony or misdemeanor charges accusing the member of the criminal
taking of the employer's property have been filed.
(c) The board may withhold payment of a member's contributions
and interest under subsection (b) until the final resolution of the
criminal charges.
(d) Subsections (b) and (c) do not apply to the:
(1) pension portion of the member's retirement benefit; or
(2) disability retirement benefit of a member who becomes
disabled.
[Pre-2006 Education Finance Recodification Citation:
21-6.1-5-17.]

Legislative History

As added by P.L.2-2006, SEC.28. Amended by P.L.15-2013, SEC.4; P.L.203-2019, SEC.2.