§ 5-10.4-8-16 — Member disability

Indiana § 5-10.4-8-16

• Jurisdiction: Indiana
• Title 5: STATE AND LOCAL ADMINISTRATION
• Art. 10.4: STATE TEACHERS' RETIREMENT FUND
• Ch. 8: Teachers' Defined Contribution Plan

Text

(a) If a member becomes disabled while in
a covered position, subject to any federal law limitations concerning
qualified plan distributions and the member furnishing proof of the
member's qualification for Social Security disability benefits to the
board, to the extent that the member is vested, the member may make
a full or partial withdrawal from the member's account.
(b) The member may elect to have the withdrawal paid as:
(1) a lump sum;
(2) a direct rollover to another eligible retirement plan; or
(3) a monthly annuity in accordance with the rules of the board.
(c) The board may establish a minimum account balance or a
minimum monthly payment amount in order for a member to select the
monthly annuity option.

Legislative History

As added by P.L.217-2017, SEC.58. Amended by P.L.27-2019, SEC.17.