Section 35IAC21-1-1. Definitions

   (a) Definitions in this section apply throughout this rule.

  (b) "PERF hybrid plan" means the qualified governmental pension plan covered under IC 5-10.2 and IC 5-10.3 except the term excludes the ASA only plan as described in IC 5-10.3-12.

  (c) "Defined benefit pension" means the pension provided by employer contributions as described [sic, in] IC 5-10.2-4-2.

  (d) "Annuity savings account" (ASA) means the member's contributions and earnings as described in IC 5-10.2-2-3.

  (e) "Employer reserve account" means a ledger account that is not employer specific and consists of the accumulated employer contributions, plus earnings, less transfers made to the benefits in force reserve of the actuarial pension cost for retirement, disability, or other benefits from members who are in pay status.

  (f) "Employer specific contribution accounts" means contribution accounts that are maintained in ERM.

  (g) "ERM" has the meaning as defined in 35 IAC 1.2-2-1(10).

  (h) "Benefits in force reserve account" means a ledger account that is not employer specific and represents the actuarially determined present value of future benefits for all members and beneficiaries who are currently in pay status. (Board of Trustees of the Indiana Public Retirement System; 35 IAC 21-1-1; adopted Dec 13, 2013: 20131225-IR-035130565ONA)