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Indiana Administrative Code (Last Updated: December 20, 2016) |
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Title 35. BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM |
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Article 35IAC1.3. PUBLIC EMPLOYEES' RETIREMENT FUND—DEFINED CONTRIBUTION PROGRAM |
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Rule 35IAC1.3-4. Members of the Plan |
Section 35IAC1.3-4-1. Members of the plan
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(a) Members of the plan are determined by IC 5-10.3-12 and this article.
(b) Eligible members must elect membership in the plan defined in IC 5-10.3-12 within the first sixty (60) days of their employment, or the member will be defaulted to membership in either the plan or the fund, determined by the default membership elected by the employer in the resolution on file with INPRS.
(c) The default described in subsection (b) is irrevocable.
(d) If a member terminates employment prior to making a membership election the member will be defaulted to membership in either the plan or the fund, determined by the default membership elected by the employer in the resolution on file with INPRS. (Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.3-4-1; adopted Sep 16, 2011: 20110928-IR-035110564ONA; adopted Dec 14, 2012: 20121226-IR-035120663ONA; adopted Jun 20, 2014: 20140820-IR-035140335ONA; adopted Sep 11, 2015: 20150923-IR-035150302ONA)