Indiana Code 2-3.5-1-4. Service before and after, but not on April 30, 1989; defined contribution plan
(1) served as a member of the general assembly before April 30, 1989;
Terms Used In Indiana Code 2-3.5-1-4
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
(3) is subsequently elected or appointed to the general assembly;
is a participant in the defined contribution plan of the legislators’ retirement system.
(b) The PERF and TRF benefits earned by a participant described in subsection (a) before July 1, 1989, for service as a member of the general assembly or in another covered position, are not affected by this article. However, the following provisions apply to such a participant who is also a member of PERF or TRF:
(1) The board shall include the participant’s years of service in the general assembly in the determination of eligibility for benefits under PERF or TRF.
(2) The board shall not include in the computation of benefits from PERF or TRF the participant’s:
(A) salary as a member of the general assembly that is received after July 1, 1989; or
(B) years of service as a member of the general assembly after July 1, 1989.
(3) The participant is not required to make annuity contributions to PERF or TRF for service as a member of the general assembly after July 1, 1989.
(4) If IC 5-10.2-4-3.1 or any of the special provisions for members of the general assembly in IC 5-10.2-3-7.5, IC 5-10.3-7-3, IC 5-10.3-7-7, IC 5-10.3-8-2, IC 5-10.4-5-7, and IC 20-28-10-16 applied to the determination of the participant’s benefits under PERF or TRF before July 1, 1989, those provisions do not apply to the determination of the participant’s benefits under PERF or TRF for benefits earned after July 1, 1989.
As added by P.L.6-1989, SEC.1. Amended by P.L.3-1990, SEC.4; P.L.1-2005, SEC.51; P.L.2-2006, SEC.2; P.L.35-2012, SEC.2.