IC 5-10.3-9
    Chapter 9. Administration of Other Retirement Plans

IC 5-10.3-9-1
Petitions; requisites
    Sec. 1. Petition for Administration. (a) The members of aretirement system, other than the Indiana state teachers' retirementfund, may petition the board to assume the administration of theirretirement system if:
        (1) the system was in existence on March 31, 1947; and
        (2) the system is maintained by the state or a politicalsubdivision.
    (b) The petition must be signed by at least sixty percent (60%) ofthe members of the retirement system and must be approved by theemployer of the members and the trustees or administrator of thesystem.
As added by Acts 1977, P.L.53, SEC.3.

IC 5-10.3-9-2
Actuarial investigation; audit of accounts
    Sec. 2. Actuarial Investigation and Audit of Accounts. After theboard receives the petition:
        (1) the actuary shall determine the actuarial soundness of theretirement system; and
        (2) the state board of accounts shall audit the records andaccounts of the retirement system.
As added by Acts 1977, P.L.53, SEC.3.

IC 5-10.3-9-3
Administration by board
    Sec. 3. Administration by the Board. After reviewing the actuarialinvestigation and audit, the board may choose to administer the planas a trustee in compliance with the law which created the plan.
As added by Acts 1977, P.L.53, SEC.3.

IC 5-10.3-9-4
Advisory board
    Sec. 4. Advisory Board. The board of trustees or administratorsof the retirement system shall act as advisors to the fund's director.
As added by Acts 1977, P.L.53, SEC.3. Amended by P.L.5-1990,SEC.11.

IC 5-10.3-9-5
Repealed
    (Repealed by P.L.115-2009, SEC.21.)

IC 5-10.3-9-6
Investments
    Sec. 6. Investments. All investments made after the transfer shallbe made by the board.As added by Acts 1977, P.L.53, SEC.3.

IC 5-10.3-9-7
Separate records
    Sec. 7. Separate Records. The board shall keep separate detailedrecords of the general or annuitant's reserve of each retirementsystem which it administers.
As added by Acts 1977, P.L.53, SEC.3.

IC 5-10.3-9-8
Limited liability
    Sec. 8. Limited Liability. The liabilities of a retirement systemwhich is administered by the board are not liabilities of the fund,except as provided for in the agreement between the retirementsystem and the board.
As added by Acts 1977, P.L.53, SEC.3.