Sec. 13. This chapter does not apply directly to the defined contribution plans or an annuity savings account described in section 5(b) of this chapter or a private market fund (as defined in IC 5-10.2-10-11). However, the board shall:

(1) ensure that reasonable efforts are made during the due diligence process before an investment is made and in monitoring investments in:

Terms Used In Indiana Code 5-10.2-14-13

  • 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.
  • Board: as used in this article , means the board of trustees of the Indiana public retirement system established by Indiana Code 5-10.2-1-1
  • Fiduciary: A trustee, executor, or administrator.
  • Fund: as used in this article means the Indiana state teachers' retirement fund and the public employees' retirement fund. See Indiana Code 5-10.2-1-2
(A) the public employees’ defined contribution plan established under IC 5-10.3-12;

(B) an annuity savings account for the public employees’ retirement fund established under IC 5-10.2-2-2(a)(1);

(C) the teachers’ defined contribution plan established under IC 5-10.4-8;

(D) an annuity savings account for the Indiana state teachers’ retirement fund established under IC 5-10.2-2-2(c)(1);

(E) the legislators’ defined contribution plan established under IC 2-3.5-5; or

(F) a private market fund (as defined in IC 5-10.2-10-11);

to determine whether any investments would violate section 9 of this chapter; and

(2) take appropriate action, if necessary, consistent with the board’s fiduciary duties.

As added by P.L.206-2023, SEC.1.

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