Section 35IAC1.2-5-12.1. De minimis accounts

  1. (a) If, after suspension, retirement, retirement for disability, death withdrawal, or other withdrawal, an inactive member's ASA account balance is below the de minimis amount as such amount is determined by PERF, PERF may close the member's account and credit the residual amount to the fund without further notice.

  (b) A member or the member's beneficiary may claim the amount credited to the fund, and the account may be adjusted for gains, losses, or interest earnings unless otherwise limited by statute by petitioning PERF in writing.

  (c) If the credited amount is from a suspended member's account, no gains or earnings shall be credited to the member's account in accordance with IC 5-10.2-3-6. (Board of Trustees of the Indiana Public Employees' Retirement Fund; 35 IAC 1.2-5-12.1; adopted Jun 11, 2010: 20100728-IR-035100467ONA; adopted Nov 19, 2010: 20101208-IR-035100722ONA)