Indiana Code 5-10.3-2-4. Participation in fund or state defined contribution plan by qualifying employees of eligible entity
(1) “Defined contribution plan” refers to the public employees’ defined contribution plan established under IC 5-10.3-12.
Terms Used In Indiana Code 5-10.3-2-4
- Employer: as used in this article means the state for employees of the state and a political subdivision for its employees. See Indiana Code 5-10.3-1-2
- Fund: as used in this article means the public employees' retirement fund. See Indiana Code 5-10.3-1-3
- Member: as used in this article means persons qualifying for membership under Indiana Code 5-10.3-1-5
(3) “Qualifying employee” means an employee who would be eligible under IC 5-10.3-7 to become a member of the fund, if the employee’s employer were to participate in the fund.
(b) Except as otherwise provided in this section, if an eligible entity wishes to offer a retirement plan to a qualifying employee, the eligible entity must provide the retirement plan to the qualifying employee by participating in the fund or the defined contribution plan.
(c) If, on July 1, 2015, an eligible employer is providing a retirement plan other than the fund or the defined contribution plan to a departmental, occupational, or other definable classification of an eligible entity’s employees, the qualifying employees in the departmental, occupational, or other classification of employees may continue to participate in the retirement plan, regardless of whether the qualifying employees in the departmental, occupational, or other definable classification begin employment with the eligible entity after June 30, 2015.
(d) An eligible entity may offer a retirement plan other than the fund or the defined contribution plan to an employee, if the employee is not a qualifying employee.
As added by P.L.241-2015, SEC.10.