Sec. 19. (a) Except as provided in subsection (c), a person entitled to an interest in or share of a pension or benefit from the trust funds may not, before the actual payment, anticipate it or sell, assign, pledge, mortgage, or otherwise dispose of or encumber it. In addition, the interest, share, pension, or benefit is not, before the actual payment, liable for the debts or liabilities of the person entitled to it, nor is it subject to attachment, garnishment, execution, levy, or sale on judicial proceedings, or transferable, voluntarily or involuntarily.

     (b) The trustee may expend the sums from the fund that it considers proper for necessary expenses.

Terms Used In Indiana Code 36-8-10-19

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • 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
  • Employee beneficiary: means an eligible employee who has completed an application to become an employee beneficiary and who has had the proper deductions made from the eligible employee's wages as required in the pension trust agreement. See Indiana Code 36-8-10-2
  • Garnishment: Generally, garnishment is a court proceeding in which a creditor asks a court to order a third party who owes money to the debtor or otherwise holds assets belonging to the debtor to turn over to the creditor any of the debtor
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Sheriff: means the sheriff of the county or another person authorized to perform sheriff's duties. See Indiana Code 1-1-4-5
  • Trustee: A person or institution holding and administering property in trust.
  • Trustee: refers to the trustee of the pension trust, who may be one (1) or more corporate trustees or the treasurer of the county serving under bond. See Indiana Code 36-8-10-2
     (c) This subsection does not apply to the sheriff of a county. Notwithstanding any other provision of this chapter, an employee beneficiary who is receiving a normal or disability monthly pension benefit under this chapter may, after June 30, 2007, authorize the trustee to pay a portion of the employee beneficiary‘s monthly pension benefit to an insurance provider for the purpose of paying a premium on a policy of insurance for accident, health, or long term care coverage for:

(1) the employee beneficiary;

(2) the employee beneficiary’s spouse; or

(3) the employee beneficiary’s dependents (as defined in Section 152 of the Internal Revenue Code).

[Pre-Local Government Recodification Citation: 17-3-14-17.]

As added by Acts 1981, P.L.309, SEC.61. Amended by P.L.180-2007, SEC.12.

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