IC 5-10.3-12-20.5 — Election by employee of political subdivision to become plan member; failure to make election
Chapter 12. Public Employees' Defined Contribution Plan
Bills citing this section
Section text
Sec. 20.5. (a) This section applies to an individual described in section 1(a)(3) of this chapter who is otherwise eligible to become a member of the plan. (b) An individual described in subsection (a) may elect to become a member of the plan on the date the individual begins the individual's employment in a covered position with a political subdivision that participates in the plan. The election applies to all service credit that the member accrues in a covered position as an employee of the political subdivision while the political subdivision participates in the plan. (c) An election under this section: (1) must be made in writing; (2) must be filed with the board on a form prescribed by the board; and (3) is irrevocable. (d) Except as provided in section 32(b) of this chapter, an individual described in subsection (a) who does not elect to become a member of the plan becomes a member (as defined in IC 5-10.3-1-5) of the fund for all service credit that the member accrues in a covered position as an employee of the political subdivision while the political subdivision participates in the fund.
As added by P.L.241-2015, SEC.30. Amended by P.L.209-2016, SEC.5.
Source: official publisher (2026 edition)