Indiana Code 5-10.2-8-2. Establishment
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Terms Used In Indiana Code 5-10.2-8-2
- 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
- Employer: as used in this article means the state for employees of the state and a political subdivision or school corporation for its employees. See Indiana Code 5-10.2-1-3
- plan: refers to a voluntary supplemental retirement plan established for a political subdivision under this chapter. See Indiana Code 5-10.2-8-1
Sec. 2. The board may elect to establish a voluntary supplemental retirement plan for political subdivisions. A plan established under this chapter shall be governed by Section 457 of the Internal Revenue Code. A plan established under this chapter shall be funded through employee salary deductions and may additionally have employer contributions, subject to the limits and provisions under Section 457 of the Internal Revenue Code.
As added by P.L.5-1997, SEC.3. Amended by P.L.35-2012, SEC.48.