Indiana Code 33-38-7-15. Annuities; payment to dependent children
(b) If a participant‘s spouse does not survive the participant, and a child is not designated and entitled to receive an annuity under section 11 of this chapter, any surviving dependent child of a participant is, upon the death of the participant, entitled to an annuity in an amount equal to the annuity the participant’s spouse would have received under section 11 of this chapter.
Terms Used In Indiana Code 33-38-7-15
- 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.
- Decedent: A deceased person.
- Dependent: A person dependent for support upon another.
- participant: means a judge who participates in the fund. See Indiana Code 33-38-7-7
(d) If there is more than one (1) dependent child, the dependent children are entitled to share the annuity equally.
(e) Each dependent child is entitled to receive that child’s share until the child becomes eighteen (18) years of age or during the entire period of the child’s physical or mental disability, whichever period is longer.
[Pre-2004 Recodification Citation: 33-13-9.1-8.]
As added by P.L.98-2004, SEC.17.