Indiana Code 5-10.3-5-1. Accounts in fund
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Indiana Code 5-10.3-5-1
- 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.
- Fund: as used in this article means the public employees' retirement fund. See Indiana Code 5-10.3-1-3
Sec. 1. Accounts in the Fund. The fund consists of separate annuity savings and retirement allowance accounts established and administered as specified in IC 5-10.2-2.
As added by Acts 1977, P.L.53, SEC.3.