BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT FUND

Resolution No. 07-10

Adoption of New Rule under the Indiana Administrative Code

WHEREAS, the Public Employees' Retirement Fund (the "Fund") exists to provide retirement benefits to public employees of the state of Indiana and participating political subdivisions and to their survivors and beneficiaries;

WHEREAS, the Board of Trustees of the Fund, by statute, administers the Public Employees' Retirement Fund;

WHEREAS, pursuant to Indiana Code 5-10.3-3-8, the Board of Trustees of the Fund may establish rules and regulations for the administration of the Fund without adopting rules under the processes described in IC 4-22-2;

WHEREAS, the Board of Trustees of the Fund desires to adopt the rule provided for in Exhibit A [SECTION 2 of this document];

NOW THEREFORE, BE IT RESOLVED by the Board of Trustees of the Public Employees' Retirement Fund that:

SECTION 1. The Board hereby adopts the administrative rule provided in Exhibit A [SECTION 2 of this document], which is attached hereto, and directs staff to cause the rule to be published in the Indiana Administrative Code.

SECTION 2. 35 IAC 1.2-6-8 IS ADDED TO READ AS FOLLOWS:

Authority: IC 5-10.3-3-8

Affected: IC 5-10.2-4-2

Sec. 8. Notwithstanding a member's election to receive an annuity provided by the amounts credited to the member's annuity savings account at retirement, annuity savings account contributions posted to a member's account subsequent to the final date on which the member's benefit is processed may be distributed to the member in a lump-sum payment. (Board of Trustees of the Public Employees' Retirement Fund; 35 IAC 1.2-6-8; adopted Dec 21, 2007: 20080109-IR-035080003ONA)

DIN: 20080109-IR-035080003ONA

Composed: May 07,2024 2:29:08PM EDT

A PDF version of this document.