Indiana Code 5-10.3-12-3. “Annuity savings account”
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Terms Used In Indiana Code 5-10.3-12-3
- account: means the plan account established for a member under section 21(b) of this chapter. See Indiana Code 5-10.3-12-2
- 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.
Sec. 3. As used in this chapter, “annuity savings account” means the annuity savings account maintained under IC 5-10.2-2-2(a)(1).
As added by P.L.22-2011, SEC.2.