CHAPTER 1. DEFINITIONS

IC 10-12
    ARTICLE 12. STATE POLICE PENSIONS ANDBENEFITS

IC 10-12-1
    Chapter 1. Definitions

IC 10-12-1-1
Applicability of definitions
    Sec. 1. The definitions in this chapter apply throughout thisarticle.
As added by P.L.2-2003, SEC.3.

IC 10-12-1-2
"Department"
    Sec. 2. "Department" refers to the state police departmentestablished by IC 10-11-2-4.
As added by P.L.2-2003, SEC.3.

IC 10-12-1-3
"Eligible employee"
    Sec. 3. "Eligible employee" means a regular police employee ofthe department.
As added by P.L.2-2003, SEC.3.

IC 10-12-1-4
"Employee beneficiary"
    Sec. 4. "Employee beneficiary" means an eligible employee who:
        (1) completes an application to become an employeebeneficiary; and
        (2) makes or causes to be made the proper deductions fromwages as required by the pension trust.
As added by P.L.2-2003, SEC.3.

IC 10-12-1-5
"Internal Revenue Code"
    Sec. 5. "Internal Revenue Code":
        (1) means the Internal Revenue Code of 1954, as in effect onSeptember 1, 1974, if permitted with respect to governmentalplans; or
        (2) to the extent not inconsistent with subdivision (1), has themeaning set forth in IC 6-3-1-11.
As added by P.L.2-2003, SEC.3.

IC 10-12-1-6
"Net amount paid into the trust fund from the wages of anemployee beneficiary"
    Sec. 6. "Net amount paid into the trust fund from the wages of anemployee beneficiary" means:
        (1) the amount of money paid into the trust fund from the wages

of an employee beneficiary, plus interest at the rate of threepercent (3%) or more compounded annually; less
        (2) any sums, plus interest at the same rate, paid from the trustfund to:
            (A) the employee beneficiary;
            (B) any person claiming by, through, or under the employeebeneficiary; or
            (C) any government fund for the credit or benefit of theemployee beneficiary.
As added by P.L.2-2003, SEC.3.

IC 10-12-1-7
"Pension consultants"
    Sec. 7. "Pension consultants" means an individual, a firm, or acorporation of technical consultants competent and qualified tosupervise and assist in the establishment, maintenance, and operationof a pension plan on an actuarially sound basis.
As added by P.L.2-2003, SEC.3.

IC 10-12-1-8
"Pension trust"
    Sec. 8. "Pension trust" means the agreement between thedepartment and the trustee under the terms of which an actuariallysound retirement pension plan is established and operated for theexclusive benefit of the employee beneficiaries subject to thelimitations specified in IC 10-12-2, IC 10-12-3, and IC 10-12-4.
As added by P.L.2-2003, SEC.3.

IC 10-12-1-9
"Supplementary trust agreement"
    Sec. 9. "Supplementary trust agreement" means an agreement thathas the force and effect of law between the department and thetrustee concerning the police benefit fund (as described inIC 10-12-2-7).
As added by P.L.2-2003, SEC.3.

IC 10-12-1-10
"Trustee"
    Sec. 10. "Trustee" refers to the trustee of the pension trust, whomay be:
        (1) one (1) or more corporate trustees; or
        (2) the treasurer of state serving under bond.
As added by P.L.2-2003, SEC.3.

IC 10-12-1-11
"Trust fund"
    Sec. 11. "Trust fund" means the assets of the pension trust,including the following:
        (1) Contributions from the department.
        (2) Contributions from employee beneficiaries.        (3) Any other payments or contributions made to the pensiontrust.
        (4) The income and proceeds derived from the investment of theassets of the pension trust.
As added by P.L.2-2003, SEC.3.