Indiana Code 5-10.2-2-22. Retirement plans offered by miscellaneous participating entity that withdraws from or freezes participation in public employees’ retirement fund
(1) either:
Terms Used In Indiana Code 5-10.2-2-22
- 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
- miscellaneous participating entity: means an entity that participates in the public employees' retirement fund, except:
Indiana Code 5-10.2-1-4.3
(B) freezes its participation in the public employees’ retirement fund as described in section 21 of this chapter; and
(2) chooses thereafter to offer a retirement plan to its employees.
(b) Except as provided in subsection (c), a miscellaneous participating entity to which this section applies may offer a retirement plan to its employees only by participating in the defined contribution plan under IC 5-10.3-12.
(c) If, on July 1, 2015, a miscellaneous participating entity to which this section applies has established or is otherwise participating in a defined contribution plan other than the defined contribution plan under IC 5-10.3-12, the miscellaneous participating entity may continue to participate in the defined contribution plan in which the miscellaneous participating entity participated on July 1, 2015.
As added by P.L.241-2015, SEC.7.