Indiana Code 5-10.4-2-6. Allocation of interest income
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Sec. 6. The board shall do the following:
(2) After complying with subdivision (1), distribute any remaining undistributed income reserve as of the end of each accounting period as determined by the rules of the board.
(1) Credit interest to the members’ annuity savings accounts in the guaranteed fund (before January 1, 2017), actual earnings to the stable value fund (after December 31, 2016), and actual earnings to the alternative investment programs.
Terms Used In Indiana Code 5-10.4-2-6
- 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.
[Pre-2006 Education Finance Recodification Citation: 21-6.1-2-9.]
As added by P.L.2-2006, SEC.28. Amended by P.L.99-2010, SEC.6; P.L.193-2016, SEC.17.