Indiana Code 10-12-4-6. Right to net amount paid into fund from wages
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Sec. 6. If an employee beneficiary ends employment for any reason before qualifying for a benefit under this chapter, the trustee shall pay to:
(2) the employee beneficiary’s beneficiary; or
(1) the employee beneficiary;
Terms Used In Indiana Code 10-12-4-6
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Trustee: A person or institution holding and administering property in trust.
(3) the employee beneficiary’s estate;
the net amount paid into the trust fund from the employee beneficiary’s wages. This amount may be paid in a lump sum or in monthly installments not less than the basic pension amount.
[Pre-2003 Recodification Citation: 10-1-2.3-6.]
As added by P.L.2-2003, SEC.3.