Section 35IAC1.2-5-19. Proration of retirement costs

   (a) A member with service credit from more than one (1) employer shall have his retirement reserve cost prorated based on months of service among all his or her employers.

  (b) Any employer may object to this basis of proration by written objection made within fifteen (15) days from receipt by the employer of notification of each such proration.

  (c) The fund may, if evidence of substantial inequity is presented by such objecting employer, use the following basis for reaching a result.

  (d) The annual compensation for each calendar year or part thereof shall be divided by the annual average consumer price index figure (1967 = $100) of the U.S. Bureau of Labor Statistics for each such year to determine a weighted salary for each year or part thereof.

  (e) The fund shall prorate retirement reserve costs to participating employers on the basis of the weighted salary each has paid, or such other method that, in the judgment of the fund, equitably allocates the retirement reserve cost between the member's employers. (Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.2-5-19; filed Dec 20, 1988, 1:00 p.m.: 12 IR 1084; readopted filed Dec 2, 2001, 12:35 p.m.: 25 IR 1266; adopted Nov 9, 2007: 20071205-IR-035070818ONA)