Sec. 24.7. (a) This section applies to a participating political subdivision‘s contributions for an individual described in section 1(a)(7) of this chapter with respect to the individual’s service with a volunteer fire department.

     (b) The governing body of a participating political subdivision shall determine the participating political subdivision’s contribution to the plan for individuals described in section 1(a)(7) of this chapter with respect to the individual’s service with the volunteer fire department in accordance with IC 5-10.3-6-1.1.

Terms Used In Indiana Code 5-10.3-12-24.7

  • account: means the plan account established for a member under section 21(b) of this chapter. See Indiana Code 5-10.3-12-2
  • employer: means the state or a participating political subdivision. See Indiana Code 5-10.3-12-8
  • fund: has the meaning set forth in Indiana Code 5-10.3-12-10
  • member: means an individual who has elected or is required to participate in the plan. See Indiana Code 5-10.3-12-12
  • participating political subdivision: means a political subdivision which is participating in the plan as specified in Indiana Code 5-10.3-12-14.5
  • plan: refers to the public employees' defined contribution plan established by section 18 of this chapter. See Indiana Code 5-10.3-12-15
  • Political subdivision: as used in this article means a county, city, town, township, political body corporate, public school corporation, public library, public utility of a county, city, town, township, and any department of, or associated with, a county, city, town, or township, which department receives revenue independently of, or in addition to, funds obtained from taxation. See Indiana Code 5-10.3-1-6
  • volunteer fire department: has the meaning set forth in IC 36-8-12-2. See Indiana Code 5-10.3-12-15.5
     (c) For each individual described in section 1(a)(7) of this chapter for whom the participating political subdivision makes a contribution under this section, the amount credited to the member‘s account is the entire amount of the contribution that is made on behalf of the individual. No part of a contribution made on behalf of the individual under this section may be paid into the fund.

     (d) A participating political subdivision shall submit the employer contributions determined under this section as provided in IC 5-10.2-2-12.5.

As added by P.L.96-2020, SEC.7.

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