IC 5-10.2-8
Chapter 8. Voluntary Supplemental Retirement Plan
IC 5-10.2-8-1 "Plan" defined
Sec. 1. As used in this chapter, "plan" refers to a voluntary
supplemental retirement plan established for a political subdivision
under this chapter. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-2 Establishment
Sec. 2. Each board may elect to establish a voluntary
supplemental retirement plan for political subdivisions. A plan
established under this chapter shall be governed by Section 457 of
the Internal Revenue Code. A plan established under this chapter
shall be funded through employee salary deductions and may
additionally have employer contributions, subject to the limits and
provisions under Section 457 of the Internal Revenue Code. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-3 Prohibition against commingling of assets
Sec. 3. The board shall maintain a separate trust for the plan, and
the assets shall not be part of, or commingled with, the assets of the
other funds administered by the board. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-4 Supplemental nature of plan; reduction in other retirement or
pension benefits prohibited
Sec. 4. A plan established under this chapter exists and serves in
addition to other retirement, pension, and benefit systems established
by a political subdivision and may not result in a reduction of any
retirement, pension, or other benefit provided by applicable law. Any
compensation deferred under the plan shall continue to be included
as regular compensation for the purpose of computing the retirement
and pension benefits earned by an employee. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-5 Day-to-day operation
Sec. 5. A plan established under this chapter shall include
appropriate provisions pertaining to the day-to-day operation of the
plan, including methods to elect income deferrals, changes to
elections, or other provisions that may be appropriate. The
investment options shall be comparable to the alternative programs
established under IC 5-10.2-2-3. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8
Chapter 8. Voluntary Supplemental Retirement Plan
IC 5-10.2-8-1 "Plan" defined
Sec. 1. As used in this chapter, "plan" refers to a voluntary
supplemental retirement plan established for a political subdivision
under this chapter. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-2 Establishment
Sec. 2. Each board may elect to establish a voluntary
supplemental retirement plan for political subdivisions. A plan
established under this chapter shall be governed by Section 457 of
the Internal Revenue Code. A plan established under this chapter
shall be funded through employee salary deductions and may
additionally have employer contributions, subject to the limits and
provisions under Section 457 of the Internal Revenue Code. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-3 Prohibition against commingling of assets
Sec. 3. The board shall maintain a separate trust for the plan, and
the assets shall not be part of, or commingled with, the assets of the
other funds administered by the board. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-4 Supplemental nature of plan; reduction in other retirement or
pension benefits prohibited
Sec. 4. A plan established under this chapter exists and serves in
addition to other retirement, pension, and benefit systems established
by a political subdivision and may not result in a reduction of any
retirement, pension, or other benefit provided by applicable law. Any
compensation deferred under the plan shall continue to be included
as regular compensation for the purpose of computing the retirement
and pension benefits earned by an employee. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-5 Day-to-day operation
Sec. 5. A plan established under this chapter shall include
appropriate provisions pertaining to the day-to-day operation of the
plan, including methods to elect income deferrals, changes to
elections, or other provisions that may be appropriate. The
investment options shall be comparable to the alternative programs
established under IC 5-10.2-2-3. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8
Chapter 8. Voluntary Supplemental Retirement Plan
IC 5-10.2-8-1 "Plan" defined
Sec. 1. As used in this chapter, "plan" refers to a voluntary
supplemental retirement plan established for a political subdivision
under this chapter. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-2 Establishment
Sec. 2. Each board may elect to establish a voluntary
supplemental retirement plan for political subdivisions. A plan
established under this chapter shall be governed by Section 457 of
the Internal Revenue Code. A plan established under this chapter
shall be funded through employee salary deductions and may
additionally have employer contributions, subject to the limits and
provisions under Section 457 of the Internal Revenue Code. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-3 Prohibition against commingling of assets
Sec. 3. The board shall maintain a separate trust for the plan, and
the assets shall not be part of, or commingled with, the assets of the
other funds administered by the board. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-4 Supplemental nature of plan; reduction in other retirement or
pension benefits prohibited
Sec. 4. A plan established under this chapter exists and serves in
addition to other retirement, pension, and benefit systems established
by a political subdivision and may not result in a reduction of any
retirement, pension, or other benefit provided by applicable law. Any
compensation deferred under the plan shall continue to be included
as regular compensation for the purpose of computing the retirement
and pension benefits earned by an employee. As added by P.L.5-1997, SEC.3.
IC 5-10.2-8-5 Day-to-day operation
Sec. 5. A plan established under this chapter shall include
appropriate provisions pertaining to the day-to-day operation of the
plan, including methods to elect income deferrals, changes to
elections, or other provisions that may be appropriate. The
investment options shall be comparable to the alternative programs
established under IC 5-10.2-2-3. As added by P.L.5-1997, SEC.3.
