Indiana Administrative Code (Last Updated: December 20, 2016) |
Title 35. BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM |
Article 35IAC1.2. PUBLIC EMPLOYEES' RETIREMENT FUND |
Rule 35IAC1.2-5. Retirement and Disability Benefits |
Section 35IAC1.2-5-15. No guarantee option
Latest version.
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Under the no guarantee option, if the member dies prior to the first day of the month that benefits are scheduled to begin, the account reverts to an active status and the beneficiary receives the account as though the member had died in active service. (Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.2-5-15; filed Dec 20, 1988, 1:00 p.m.: 12 IR 1084; readopted filed Oct 31, 2001, 2:18 p.m.: 25 IR 897; adopted Nov 9, 2007: 20071205-IR-035070818ONA)