IC 21-38-7
    Chapter 7. Transfer of Membership From Indiana State Teachers'Retirement Fund; State Appropriation

IC 21-38-7-1
Applicability of chapter
    Sec. 1. This chapter applies to a state educational institution thathad at least one (1) employee who was a fund member on July 1,1980.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-2
Interpretation
    Sec. 2. This chapter does not limit the authority given to a stateeducational institution under any other law.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-3
Powers of state educational institutions
    Sec. 3. A state educational institution may establish a retirementbenefit system for the employees of the state educational institution.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-4
Restricted participation in retirement benefit system
    Sec. 4. An employee may not be both an active:
        (1) fund member; and
        (2) retirement benefit system participant;
at the same time.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-5
Participation in retirement benefit system
    Sec. 5. If a state educational institution establishes a retirementbenefit system that includes as participants employees who otherwisequalify as fund members, the state educational institution must allowan employee who otherwise qualifies as a fund member to electwhether to participate in the retirement benefit system.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-6
Employee election to participate in retirement benefit system
    Sec. 6. An employee's election under section 5 of this chaptermust be in writing and is not effective until filed with the stateeducational institution.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-7
Noncontributing fund members; date participation is effective
    Sec. 7. If an employee is not a contributing fund member at the

time the employee is initially hired by a state educational institutionthat has established a retirement benefit system, the employee mayfile an election under section 5 of this chapter to participate in theemployer's retirement benefit system not later than sixty (60)calendar days after the employee's initial employment date. Theelection is effective as if it had been made on the employee's initialemployment date.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-8
Contributing fund members; date participation is effective
    Sec. 8. If an employee is a contributing fund member at the timethe employee elects under section 5 of this chapter to participate ina retirement benefit system:
        (1) the employee's rights in the fund on the date the employee'selection is effective are the same as if the employee hadterminated employment on that date; and
        (2) the employee's election and suspension of membership inthe fund are effective on July 1 immediately following the datethe employee files the election with the state educationalinstitution.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-9
Prohibition on rejoining fund
    Sec. 9. After an employee's election under section 5 of thischapter becomes effective, the employee is not entitled to rejoin thefund while the employee remains employed by the state educationalinstitution.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-10
Service credit
    Sec. 10. The service of an employee who is participating in aretirement benefit system may not be used to earn service credit,years of service, or for any other purpose by the fund.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-11
State educational institutions; duties
    Sec. 11. The state educational institution shall inform the boardof trustees of the fund of:
        (1) the employee's election to participate in the retirementbenefit system established by the state educational institution;and
        (2) the effective date of the employee's election.
As added by P.L.2-2007, SEC.279.

IC 21-38-7-12
Amount of state contribution    Sec. 12. (a) If a state educational institution establishes aretirement benefit system applicable to employees of the institutionwho otherwise qualify as members of the fund under IC 5-10.4-4-1,the general assembly shall appropriate to a state educationalinstitution that establishes a retirement benefit system to fund theretirement benefit system an amount estimated to be equal to sevenand four-tenths percent (7.4%) of the compensation of an employeewho:
        (1) makes the election described in section 5 of this chapter;and
        (2) becomes a participant in the retirement benefit system of thestate educational institution for all or a part of the period of theappropriation.
    (b) The state educational institution shall:
        (1) estimate the sum described in subsection (a); and
        (2) submit the estimate to the budget agency and to thecommission for higher education for inclusion in the operatingappropriation of the state educational institution.
    (c) The estimate described in subsection (b) must be submitted atthe same time but separately from the request of the state educationalinstitution for an operating appropriation.
As added by P.L.2-2007, SEC.279.