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Indiana Code 5-10.5-5-1. Investment powers, duties, and limitations; penalties

Sec. 1. The board has the powers, duties, restrictions, limitations, and penalties in connection with the board’s investment and management of the assets of the public pension and retirement funds of the system under the following provisions:

(1) IC 5-10.2-2-2.5.

Terms Used In Indiana Code 5-10.5-5-1

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(2) IC 5-10.2-2-13.

(3) IC 5-10.3-3-7.1.

(4) IC 5-10.3-5-3.

(5) IC 5-10.3-5-3.1.

(6) IC 5-10.3-5-4.

(7) IC 5-10.3-5-5.

(8) IC 5-10.3-5-6.

(9) IC 5-10.4-3-7.

(10) IC 5-10.4-3-9.

(11) IC 5-10.4-3-10.

(12) IC 5-10.4-3-11.

(13) IC 5-10.4-3-12.

(14) IC 5-10.4-3-13.

(15) IC 5-10.4-3-14.

(16) IC 5-10.4-3-15.

(17) IC 5-10.4-3-16.

As added by P.L.23-2011, SEC.22. Amended by P.L.86-2018, SEC.19.

Indiana Code 5-10-5.5-1. Definitions

Sec. 1. As used in this chapter and unless the context clearly denotes otherwise:

(1) “Board” refers to the board of trustees of the Indiana public retirement system established by IC 5-10.5-3-1.

Terms Used In Indiana Code 5-10-5.5-1

  • Americans with Disabilities Act: refers to the Americans with Disabilities Act (42 U. See Indiana Code 5-10-5.5-1
  • Average annual salary: means the average annual salary of an officer during the five (5) years of highest annual salary in the ten (10) years immediately preceding an officer's retirement date, determined without regard to any salary reduction agreement established under Section 125 of the Internal Revenue Code. See Indiana Code 5-10-5.5-1
  • Board: refers to the board of trustees of the Indiana public retirement system established by IC 5-10. See Indiana Code 5-10-5.5-1
  • Commission: means the alcohol and tobacco commission. See Indiana Code 5-10-5.5-1
  • Department: means the Indiana department of natural resources. See Indiana Code 5-10-5.5-1
  • Interest: means the rate of interest specified by rule by the board of trustees of the Indiana public retirement system established by IC 5-10. See Indiana Code 5-10-5.5-1
  • Officer: means any Indiana state excise police officer, any Indiana state conservation enforcement officer, any gaming agent, or any gaming control officer. See Indiana Code 5-10-5.5-1
  • Salary: means the total compensation, exclusive of expense allowances, paid to any officer by the department or the commission, determined without regard to any salary reduction agreement established under Section 125 of the Internal Revenue Code. See Indiana Code 5-10-5.5-1
(2) “Department” means the Indiana department of natural resources.

(3) “Commission” means the alcohol and tobacco commission.

(4) “Officer” means any Indiana state excise police officer, any Indiana state conservation enforcement officer, any gaming agent, or any gaming control officer.

(5) “Participant” means any officer who has elected to participate in the retirement plan created by this chapter.

(6) “Salary” means the total compensation, exclusive of expense allowances, paid to any officer by the department or the commission, determined without regard to any salary reduction agreement established under Section 125 of the Internal Revenue Code.

(7) “Average annual salary” means the average annual salary of an officer during the five (5) years of highest annual salary in the ten (10) years immediately preceding an officer’s retirement date, determined without regard to any salary reduction agreement established under Section 125 of the Internal Revenue Code.

(8) “Public employees’ retirement act” means IC 5-10.3.

(9) “Public employees’ retirement fund” means the public employees’ retirement fund created by IC 5-10.3-2.

(10) “Interest” means the rate of interest specified by rule by the board of trustees of the Indiana public retirement system established by IC 5-10.5-3-1.

(11) “Americans with Disabilities Act” refers to the Americans with Disabilities Act (42 U.S.C. 12101 et seq.) and any amendments and regulations related to the Act.

(12) Other words and phrases when used in this chapter shall, for the purposes of this chapter, have the meanings respectively ascribed to them as set forth in IC 5-10.3-1.

Formerly: Acts 1972, P.L.1, SEC.1. As amended by P.L.25-1986, SEC.27; P.L.5-1992, SEC.3; P.L.4-1992, SEC.5; P.L.204-2001, SEC.10; P.L.170-2005, SEC.11; P.L.227-2007, SEC.51; P.L.16-2011, SEC.1; P.L.23-2011, SEC.3; P.L.6-2012, SEC.25; P.L.35-2012, SEC.23.