Sec. 6. (a) Upon election to become a participant by any officer who is a member of the public employees’ retirement fund, the board shall transfer all funds standing to the credit of the electing officer in the public employees’ retirement fund to the participants’ savings fund created by this chapter.

     (b) Except as otherwise provided in this chapter, a transfer of funds under the provisions of subsection (a) of this section constitutes a full and complete discharge of all of the rights of the electing officer under the public employees’ retirement fund.

Formerly: Acts 1972, P.L.1, SEC.1.

Terms Used In Indiana Code 5-10-5.5-6

  • Board: refers to the board of trustees of the Indiana public retirement system established by 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
  • Participant: means any officer who has elected to participate in the retirement plan created by this chapter. See Indiana Code 5-10-5.5-1
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