Indiana Code 5-10-8.5-17. Eligibility for benefits; benefit amount
Current as of: 2023 | Check for updates
|
Other versions
Sec. 17. (a) A retired participant is entitled to receive a benefit from the account. The benefit amount is the balance in the participant’s subaccount as determined under this chapter.
(c) Years of service that accrued to an individual during the individual’s service as an employee described in section 1(b)(1) through 1(b)(3) of this chapter may not be included in determining the individual’s eligibility for the retirement medical benefits account under this chapter, regardless of whether the individual is a retired participant described in section 9 of this chapter.
(b) A participant who is not a retired participant is not entitled to receive a benefit from the account when the participant separates from service.
Terms Used In Indiana Code 5-10-8.5-17
- account: refers to the retirement medical benefits account established by section 11 of this chapter. See Indiana Code 5-10-8.5-2
- participant: means an individual for whom a subaccount is established under section 14 of this chapter. See Indiana Code 5-10-8.5-8
- retired participant: means the following:
Indiana Code 5-10-8.5-9
- subaccount: means a participant's allocable share of the account. See Indiana Code 5-10-8.5-10
As added by P.L.44-2007, SEC.1. Amended by P.L.229-2011, SEC.76; P.L.108-2019, SEC.93.