CHAPTER 8. 1985 RETIREMENT, DISABILITY, AND DEATH SYSTEM
IC 33-38-8
Chapter 8. 1985 Retirement, Disability, and Death System
IC 33-38-8-1
Application of chapter
Sec. 1. This chapter applies only to an individual who:
(1) begins service as a judge after August 31, 1985;
(2) is serving as a full-time magistrate on July 1, 2010, and
makes an election under section 10.5 of this chapter; or
(3) begins service as a full-time magistrate after July 1, 2010.
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.10.
IC 33-38-8-2
"Americans with Disabilities Act" defined
Sec. 2. As used in this chapter, "Americans with Disabilities Act"
refers to the Americans with Disabilities Act (42 U.S.C. 12101 et
seq.) and any amendments and regulations related to the act.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-3
"Board" defined
Sec. 3. As used in this chapter, "board" refers to the board of
trustees of the public employees' retirement fund.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-4
"Employer" defined
Sec. 4. As used in this chapter, "employer" means the state of
Indiana.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-5
"Fund" defined
Sec. 5. As used in this chapter, "fund" refers to the Indiana judges'
retirement fund established by IC 33-38-6-12.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-6
"Internal Revenue Code" defined
Sec. 6. (a) As used in this chapter, "Internal Revenue Code":
(1) means the Internal Revenue Code of 1954, as in effect on
September 1, 1974, if permitted with respect to governmental
plans; or
(2) to the extent consistent with subdivision (1), has the
meaning set forth in IC 6-3-1-11.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-7
"Participant" defined
Sec. 7. As used in this chapter, "participant" means a judge who
participates in the fund. After December 31, 2010, "participant"
means a judge or full-time magistrate who participates in the fund.
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.11.
IC 33-38-8-8
"Salary" defined
Sec. 8. As used in this chapter, "salary" means the total salary
paid to a participant by the state and by a county or counties,
determined without regard to any salary reduction agreement
established under Section 125 of the Internal Revenue Code.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-9
"Services" defined
Sec. 9. As used in this chapter, "services" means the period
beginning on the first day a person first becomes a judge or, after
December 31, 2010, a judge or full-time magistrate, and ending on
the date under consideration and includes all intervening
employment as a judge or, after December 31, 2010, a judge or
full-time magistrate.
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.12.
IC 33-38-8-10
Participants
Sec. 10. (a) A person who:
(1) begins service as a judge after August 31, 1985; and
(2) is not a participant in the fund;
shall become a participant in the fund.
(b) A person who is serving as a full-time magistrate on July 1,
2010, and makes an election under section 10.5 of this chapter is,
beginning January 1, 2011, a participant in the judges' 1985 benefit
system under this chapter.
(c) A person who begins serving as a full-time magistrate after
July 1, 2010, is a participant in the judges' 1985 benefit system under
this chapter beginning on the later of the following:
(1) January 1, 2011.
(2) The date the person begins service as a full-time magistrate.
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.13.
IC 33-38-8-10.5
Magistrate election to participate in benefit system
Sec. 10.5. A person who is serving as a full-time magistrate on
July 1, 2010, may elect to become a member of the judges' 1985
benefit system under this chapter. An election under this section:
(1) must be made in writing;
(2) must be filed with the board, on a form prescribed by the
board, before October 1, 2010; and
(3) is irrevocable.
As added by P.L.122-2008, SEC.14.
IC 33-38-8-11
Contributions
Sec. 11. (a) A participant shall make contributions to this fund of
six percent (6%) of each payment of salary received for services as
judge or, after December 31, 2010, as a judge or full-time magistrate.
However, the employer may elect to pay the contribution for the
participant as a pickup under Section 414(h) of the Internal Revenue
Code.
(b) Participants' contributions, other than participants'
contributions paid by the employer, shall be deducted from the
monthly salary of each participant by the auditor of state and by the
county auditor and credited to the fund as provided in IC 33-38-6-21
and IC 33-38-6-22. However, a contribution is not required:
(1) because of any salary received after the participant has
contributed to the fund for twenty-two (22) years; or
(2) during any period that the participant is not serving as judge
or, after December 31, 2010, as a judge or full-time magistrate.
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.15.
IC 33-38-8-12
Withdrawal of participant from fund
Sec. 12. (a) A participant who:
(1) ceases service:
(A) as a judge; or
(B) after December 31, 2010, as a judge or full-time
magistrate;
other than by death or disability; and
(2) is not eligible for a retirement benefit under this chapter;
is entitled to withdraw from the fund, beginning on the date specified
by the participant in a written application. The date on which the
withdrawal begins may not be before the date of final termination of
employment or the date thirty (30) days before the receipt of the
application by the board.
(b) Upon the withdrawal, the participant is entitled to receive the
total sum contributed, payable within sixty (60) days from the date
of the withdrawal application or in monthly installments as the
participant may elect.
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.16.
IC 33-38-8-13
Retirement benefits; termination of employment; conditions
Sec. 13. A participant whose employment as a judge or, after
December 31, 2010, as a judge or full-time magistrate, is terminated
is entitled to a retirement benefit computed under section 14 of this
chapter, beginning on the date specified by the participant in a
written application, if the following conditions are met:
(1) The date on which the benefit begins is not:
(A) before the date of final termination of employment of the
participant; or
(B) the date thirty (30) days before the receipt of the
application by the board.
(2) The participant:
(A) is at least sixty-two (62) years of age and has at least
eight (8) years of service credit;
(B) is at least fifty-five (55) years of age and the participant's
age in years plus the participant's years of service is at least
eighty-five (85); or
(C) has become permanently disabled.
(3) The participant is not receiving a salary from the state for
services currently performed as:
(A) a judge (as defined in IC 33-38-6-7); or
(B) a magistrate under IC 33-23-5.
As added by P.L.98-2004, SEC.17. Amended by P.L.28-2005, SEC.2;
P.L.122-2008, SEC.17.
IC 33-38-8-14
Retirement benefits; computation of amount
Sec. 14. (a) Benefits provided under this section are subject to
IC 33-38-6-13 and section 20 of this chapter.
(b) A participant who:
(1) applies for a retirement benefit; and
(2) is at least:
(A) sixty-five (65) years of age; or
(B) fifty-five (55) years of age and meets the requirements
under section 13(2)(B) of this chapter;
is entitled to an annual retirement benefit as calculated in subsection
(c).
(c) The annual retirement benefit for a participant who meets the
requirements of subsection (b) equals the product of:
(1) the applicable salary determined under subsection (e);
multiplied by
(2) the percentage prescribed in the following table:
Participant's Years Percentage
of Service
8
24%
9
27%
10
30%
11
33%
12
50%
13
51%
14
52%
15
53%
16
54%
17
55%
18
56%
19
57%
20
58%
21
59%
22 or more
60%
If a participant has a partial year of service in addition to at least
eight (8) full years of service, an additional percentage shall be
calculated by prorating between the applicable percentages, based on
the number of months in the partial year of service.
(d) Except as provided in section 13(2)(B) of this chapter and
subsection (b)(2)(B), if a participant who applies for a retirement
benefit has not attained sixty-five (65) years of age, the participant
is entitled to receive a reduced annual retirement benefit that equals
the benefit that would be payable if the participant were sixty-five
(65) years of age reduced by one-tenth percent (0.1%) for each
month that the participant's age at retirement precedes the
participant's sixty-fifth birthday. This reduction does not apply to:
(1) participants who are separated from service because of
permanent disability;
(2) survivors of participants who die while in service after
August 1, 1992; or
(3) survivors of participants who die while not in service
but while entitled to a future benefit.
(e) The applicable salary is one (1) of the following:
(1) The salary that was being paid to the participant at the
time of the participant's separation from service for:
(A) a participant who applies to receive a retirement
benefit from the fund before January 1, 2010; or
(B) a participant who:
(i) before January 1, 2010, separates from
service;
(ii) is entitled to receive a retirement benefit
from the fund, but does not apply before January
1, 2010, to receive a retirement benefit; and
(iii) does not earn any service credit in the fund
after December 31, 2009.
(2) The salary being paid for the office that the participant
held at the time of the participant's separation from service
for a participant who:
(A) applies to receive a benefit after December 31,
2009; and
(B) is not a participant described in subdivision
(1)(B).
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.18.
IC 33-38-8-15
Permanent disability of participants; certification; recovery;
transcripts, reports, records, and other materials
Sec. 15. (a) A participant is considered to have a permanent
disability if the board has received a written certification by at least
two (2) licensed and practicing physicians, appointed by the board,
that:
(1) the participant is totally incapacitated, by reason of
physical or mental infirmities, from earning a livelihood;
and
(2) the condition is likely to be permanent.
(b) The participant shall be reexamined by at least two (2)
physicians appointed by the board, at the times the board designates
but at intervals not to exceed one (1) year. If, in the opinion of these
physicians, the participant has recovered from the participant's
disability, then benefits shall cease to be payable as of the date of the
examination unless, on that date, the participant is at least:
(1) sixty-five (65) years of age; or
(2) fifty-five (55) years of age and meets the requirements
under section 13(2)(B) of this chapter.
(c) To the extent required by the Americans with Disabilities Act,
the transcripts, reports, records, and other material generated by the
initial and periodic examinations and reviews to determine eligibility
for disability benefits under this section shall be:
(1) kept in separate medical files for each member; and
(2) treated as confidential medical records.
As added by P.L.98-2004, SEC.17. Amended by P.L.99-2007,
SEC.198.
IC 33-38-8-16
Permanent disability of participants; amount of benefits
Sec. 16. (a) Benefits provided under this section are subject to
IC 33-38-6-13 and section 20 of this chapter.
(b) A participant who becomes permanently disabled is entitled
to an annual benefit that equals the product of:
(1) the salary that was paid to the participant at the time of
separation from service; multiplied by
(2) the percentage prescribed in the following table:
Participant's Years
Percentage
of Service
0-12 50%
13 51%
14 52%
15 53%
16 54%
17 55%
18 56%
19 57%
20 58%
21 59%
22 or more 60%
If a participant has a partial year of service in addition to at least
eight (8) full years of service, an additional percentage shall be
calculated by prorating between the applicable percentages, based on
the number of months in the partial year of service.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-17
Death of participant; benefits of surviving spouse or children
Sec. 17. (a) Benefits provided under this section are subject to
IC 33-38-6-13 and section 20 of this chapter.
(b) The surviving spouse or child or children, as designated by the
participant, of a participant who:
(1) dies; and
(2) on the date of death:
(A) was receiving benefits under this chapter;
(B) had completed at least eight (8) years of service and was
in service as a judge or, after December 31, 2010, as a judge or
full-time magistrate;
(C) had a permanent disability; or
(D) had completed at least eight (8) years of service, was not
still in service as a judge or, after December 31, 2010, as a
judge or full-time magistrate, and was entitled to a future
benefit;
are entitled, regardless of the participant's ages, to the benefit
prescribed by subsection (c).
(c) The surviving spouse or child or children, as designated under
subsection (b), are entitled to a benefit equal to the greater of:
(1) fifty percent (50%) of the amount of the retirement benefit
the participant was drawing at the time of death, or to which the
participant would have been entitled had the participant retired
and begun receiving retirement benefits on the date of death,
with reductions as necessary under section 14(d) of this chapter;
or
(2) the amount determined under the following table:
Year
Amount
July 1, 1995, to
June 30, 1996 $10,000
July 1, 1996, to
June 30, 1997 $11,000
July 1, 1997, and
thereafter $12,000
(d) The benefit payable to a surviving spouse or surviving child
or children under subsection (c) is subject to the following:
(1) A surviving spouse is entitled to receive the benefit for life.
(2) The total monthly benefit payable to a surviving child or
children is equal to the same monthly benefit that was to have
been payable to the surviving spouse.
(3) If there is more than one (1) child designated by the
participant, then the children are entitled to share the benefit in
equal monthly amounts.
(4) A child entitled to a benefit shall receive that child's share
until the child becomes eighteen (18) years of age or during the
entire period of the child's physical or mental disability,
whichever period is longer.
(5) Upon the cessation of benefits to one (1) designated child,
if there are one (1) or more other children then surviving and
still entitled to benefits, the remaining children shall share
equally the benefit. If the surviving spouse of the participant is
surviving upon the cessation of benefits to all designated
children, the surviving spouse shall then receive the benefit for
the remainder of the spouse's life.
(6) The benefit shall be payable to the participant's surviving
spouse if any of the following occur:
(A) No child or children named as a beneficiary by a
participant survives the participant.
(B) No child or children designated by the participant is or
are entitled to a benefit due to the age of the child or
children at the time of death of the participant.
(C) A designation is not made.
(7) A benefit payable to a surviving child or children may be
paid to a trust or a custodian account under IC 30-2-8.5,
established for the surviving child or children as designated by
the participant.
As added by P.L.98-2004, SEC.17. Amended by P.L.99-2007,
SEC.199; P.L.122-2008, SEC.19.
IC 33-38-8-18
Death of participant; benefits of dependent children
Sec. 18. (a) Benefits provided under this section are subject to
IC 33-38-6-13 and section 20 of this chapter.
(b) If a participant's spouse does not survive the participant, and
there is no child designated and entitled to receive a benefit under
section 17 of this chapter, any surviving dependent child of a
participant is, upon the death of the participant, entitled to a benefit
equal to the benefit the participant's spouse would have received
under section 17 of this chapter.
(c) If a surviving spouse of a decedent participant dies and a
dependent child of the surviving spouse and the decedent participant
survives them, the dependent child is entitled to receive a benefit
equal to the benefit the spouse was receiving or would have received
under section 17 of this chapter.
(d) If there is more than one (1) dependent child, then the
dependent children are entitled to share the benefit equally.
(e) A dependent child is entitled to receive the child's share until
the child becomes eighteen (18) years of age or during the entire
period of the child's physical or mental disability, whichever period
is longer.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-19
Death of participant; payments when no benefits payable to
survivors
Sec. 19. (a) Benefits provided under this section are subject to
IC 33-38-6-13.
(b) If benefits are not payable to the survivors of a participant who
dies, and if a withdrawal application is filed with the board, the total
of the participant's contributions plus interest (as determined by the
board) minus any payments made to the participant shall be paid to:
(1) the surviving spouse of the participant or a child or children
of the participant, as designated by the participant;
(2) any other dependent or dependents of the participant, if a
spouse or designated child or children does or do not survive;
or
(3) the participant's estate, if a spouse, designated child or
children, or other dependent does or do not survive.
(c) The amount owed a spouse, designated child or children, or
other dependent or dependents, or estate under subsection (b) is
payable within sixty (60) days from the date of receipt of the
withdrawal application or in the monthly installments as the recipient
elects.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-20
Maximum annual benefit under Internal Revenue Code
Sec. 20. Notwithstanding any other provision of this chapter,
benefits paid under this chapter may not exceed the maximum annual
benefit specified by Section 415 of the Internal Revenue Code.
As added by P.L.98-2004, SEC.17.
IC 33-38-8-21
Service credit; contributions for service as judge or full-time
magistrate
Sec. 21. (a) A judge or, after December 31, 2010, a judge or
full-time magistrate, is entitled to a month of service credit for
services performed in any fraction of a calendar month. However, a
judge or, after December 31, 2010, a judge or full-time magistrate,
is not entitled to more than one (1) month of credit for services
performed in a calendar month.
(b) Except as otherwise provided in this chapter, if a judge is
elected or appointed and serves one (1) or more terms or part of a
term then retires from office but at a later period or periods is
appointed or elected and serves as judge, the judge shall pay into the
fund during all the periods served as judge, whether the periods are
served consecutively or not.
(c) Except as otherwise provided in this chapter, a judge is not
required to pay into the fund:
(1) at any time when the judge is not serving as judge; or
(2) during any period of service as a senior judge under
IC 33-23-3.
(d) Except as otherwise provided in this chapter, after December
31, 2010, a full-time magistrate:
(1) shall pay into the fund during all periods served as a
full-time magistrate, whether the periods are served
consecutively or not; and
(2) is not required to pay into the fund at any time when the
magistrate is not serving as a full-time magistrate.
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.20.
IC 33-38-8-22
Judge's credit for service as full-time referee or commissioner;
credit for pre-2011 service as full-time magistrate; rollover
distributions; trustee to trustee transfers
Sec. 22. (a) This section applies to a person who:
(1) is a judge participating under this chapter;
(2) was appointed by a court to serve as a full-time referee,
full-time commissioner, or, before January 1, 2011, full-time
magistrate, either:
(A) before becoming a judge; or
(B) after leaving an elected term on the bench;
(3) was a member of the public employees' retirement fund
during the employment described in subdivision (2); and
(4) received credited service under the public employees'
retirement fund for the employment described in subdivision
(2).
(b) If a person becomes a participant as a judge in the judges'
1985 benefit system under section 1 of this chapter, credit for service
by the judge as a full-time referee, full-time commissioner, or, before
January 1, 2011, full-time magistrate shall be granted under this
chapter by the board if:
(1) the service was credited under the public employees'
retirement fund;
(2) the state contributes to the judges' 1985 benefit system the
amount the board determines necessary to amortize the service
liability over a period determined by the board, but not more
than ten (10) years; and
(3) the judge pays in a lump sum or in a series of payments
determined by the board, not exceeding five (5) annual
payments, the amount the judge would have contributed if the
judge had been a member of the judges' 1985 benefit system
during the service.
(c) If the requirements of subsection (b)(2) and (b)(3) are not
satisfied, a participant is entitled to credit only for years of service
earned as a participant in the judges' 1985 benefit system.
(d) An amortization schedule for contributions paid under
subsection (b)(2) or (b)(3) must include interest at a rate determined
by the board.
(e) The following provisions apply to a person described in
subsection (a):
(1) A minimum benefit applies to participants receiving credit
in the judges' 1985 benefit system from service covered by the
public employees' retirement fund. The minimum benefit is
payable at sixty-five (65) years of age or when the participant
is at least fifty-five (55) years of age and meets the
requirements under section 13(2)(B) of this chapter and equals
the actuarial equivalent of the vested retirement benefit that is:
(A) payable to the member at normal retirement under
IC 5-10.2-4-1 as of the day before the transfer; and
(B) based solely on:
(i) creditable service;
(ii) the average of the annual compensation; and
(iii) the amount credited under IC 5-10.2 and IC 5-10.3 to
the annuity savings account of the transferring member as
of the day before the transfer.
(2) If the requirements of subsection (b)(2) and (b)(3) are
satisfied, the board shall transfer from the public employees'
retirement fund to the judges' 1985 benefit system the amount
credited to the annuity savings account and the present value of
the retirement benefit payable at sixty-five (65) years of age or
at least fifty-five (55) years of age under section 13(2)(B) of
this chapter that is attributable to the transferring participant.
(3) The amount the state and the participant must contribute to
the judges' 1985 benefit system under subsection (b) shall be
reduced by the amount transferred to the judges' 1985 benefit
system by the board under subdivision (2).
(4) If the requirements of subsection (b)(2) and (b)(3) are
satisfied, credit for service in the public employees' retirement
fund as a full-time referee, full-time commissioner, or, before
January 1, 2011, full-time magistrate is waived. Any credit for
the service under the judges' 1985 benefit system may be
granted only under subsection (b).
(f) To the extent permitted by the Internal Revenue Code and the
applicable regulations, the judges' 1985 benefit system may accept,
on behalf of a participant who is purchasing permissive service credit
under subsection (b), a rollover of a distribution from any of the
following:
(1) A qualified plan described in Section 401(a) or Section
403(a) of the Internal Revenue Code.
(2) An annuity contract or account described in Section 403(b)
of the Internal Revenue Code.
(3) An eligible plan that is maintained by a state, a political
subdivision of a state, or an agency or instrumentality of a state
or political subdivision of a state under Section 457(b) of the
Internal Revenue Code.
(4) An individual retirement account or annuity described in
Section 408(a) or Section 408(b) of the Internal Revenue Code.
(g) To the extent permitted by the Internal Revenue Code and the
applicable regulations, the judges' 1985 benefit system may accept,
on behalf of a participant who is purchasing permissive service credit
under subsection (b), a trustee to trustee transfer from any of the
following:
(1) An annuity contract or account described in Section 403(b)
of the Internal Revenue Code.
(2) An eligible deferred compensation plan under Section
457(b) of the Internal Revenue Code.
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.21.
IC 33-38-8-22.5
Magistrate's credit for service as full-time referee or
commissioner; credit for pre-2011 service as full-time magistrate;
rollover distributions; trustee to trustee transfers
Sec. 22.5. (a) This section applies after December 31, 2010, only
to a person who:
(1) is a full-time magistrate participating under this chapter;
(2) was appointed by a court to serve as:
(A) a full-time referee or full-time commissioner; or
(B) before January 1, 2011, a full-time magistrate;
(3) was a member of the public employees' retirement fund
during the employment described in subdivision (2); and
(4) received credited service under the public employees'
retirement fund for the employment described in subdivision
(2).
(b) If a person becomes a participant as a full-time magistrate in
the judges' 1985 benefit system under section 1 of this chapter, credit
for service by the magistrate as a full-time referee, full-time
commissioner, or, before January 1, 2011, full-time magistrate shall
be granted under this chapter by the board if:
(1) the service was credited under the public employees'
retirement fund; and
(2) the magistrate pays in a lump sum or in a series of payments
determined by the board, not exceeding five (5) annual
payments, the amount determined by the actuary for the judges'
1985 benefit system as the total cost of the service.
(c) If the requirements of subsection (b) are not satisfied, a
participant is entitled to credit only for years of service earned as a
participant in the judges' 1985 benefit system.
(d) An amortization schedule for contributions paid under this
section must include interest at a rate determined by the board.
(e) The following provisions apply to a person described in
subsection (a):
(1) A minimum benefit applies to participants receiving credit
in the judges' 1985 benefit system from service covered by the
public employees' retirement fund. The minimum benefit is
payable at sixty-five (65) years of age or when the participant
is at least fifty-five (55) years of age and meets the
requirements under section 13(2)(B) of this chapter and equals
the actuarial equivalent of the vested retirement benefit that is:
(A) payable to the member at normal retirement under
IC 5-10.2-4-1 as of the day before the transfer; and
(B) based solely on:
(i) creditable service;
(ii) the average of the annual compensation; and
(iii) the amount credited under IC 5-10.2 and IC 5-10.3 to
the annuity savings account of the transferring member as
of the day before the transfer.
(2) If the requirements of subsection (b) are satisfied, the board
shall transfer from the public employees' retirement fund to the
judges' 1985 benefit system the amount credited to the annuity
savings account and the present value of the retirement benefit
payable at sixty-five (65) years of age or at least fifty-five (55)
years of age under section 13(2)(B) of this chapter that is
attributable to the transferring participant.
(3) The amount the participant must contribute to the judges'
1985 benefit system under subsection (b) shall be reduced by
the amount transferred to the judges' 1985 benefit system by the
board under subdivision (2).
(4) If the requirements of subsection (b) are satisfied, credit for
service in the public employees' retirement fund as a full-time
referee, full-time commissioner, or before July 1, 2010,
full-time magistrate is waived. Any credit for the service under
the judges' 1985 benefit system may be granted only under
subsection (b).
(f) To the extent permitted by the Internal Revenue Code and the
applicable regulations, the judges' 1985 benefit system may accept,
on behalf of a participant who is purchasing permissive service credit
under subsection (b), a rollover of a distribution from any of the
following:
(1) A qualified plan described in Section 401(a) or Section
403(a) of the Internal Revenue Code.
(2) An annuity contract or account described in Section 403(b)
of the Internal Revenue Code.
(3) An eligible plan that is maintained by a state, a political
subdivision of a state, or an agency or instrumentality of a state
or political subdivision of a state under Section 457(b) of the
Internal Revenue Code.
(4) An individual retirement account or annuity described in
Section 408(a) or Section 408(b) of the Internal Revenue Code.
(g) To the extent permitted by the Internal Revenue Code and the
applicable regulations, the judges' 1985 benefit system may accept,
on behalf of a participant who is purchasing permissive service credit
under subsection (b), a trustee to trustee transfer from any of the
following:
(1) An annuity contract or account described in Section 403(b)
of the Internal Revenue Code.
(2) An eligible deferred compensation plan under Section
457(b) of the Internal Revenue Code.
As added by P.L.122-2008, SEC.22.
IC 33-38-8-23
Credit for prior service as member of Indiana public employees'
retirement fund; rollover distributions; trustee to trustee transfers
Sec. 23. (a) This section applies only to a person who:
(1) is:
(A) a judge; or
(B) after December 31, 2010, a judge or full-time magistrate;
participating under this chapter;
(2) before becoming:
(A) a judge; or
(B) after December 31, 2010, a judge or full-time magistrate;
was a member of a public employees' retirement fund;
(3) received credited service under a public employees'
retirement fund for the employment described in subdivision
(2), and the credited service is not eligible for service credit
under section 22 or 22.5 of this chapter;
(4) has not attained vested status under a public employees'
retirement fund for the employment described in subdivision
(2); and
(5) has at least eight (8) years of service credit in the judges'
retirement system.
(b) If a person becomes a participant in the judges' 1985 benefit
system under this chapter, credit for service described in subsection
(a) shall be granted under this chapter by the board if:
(1) the prior service was credited under a public employees'
retirement fund; and
(2) the judge or full-time magistrate pays in a lump sum or in a
series of payments determined by the board, not exceeding five
(5) annual payments, the amount determined by the actuary for
the judges' 1985 benefit system as the total cost of the service.
(c) If the requirements of subsection (b) are not satisfied, a
participant is entitled to credit only for years of service after the date
of participation in the judges' 1985 benefit system.
(d) An amortization schedule for contributions paid under this
section must include interest at a rate determined by the board.
(e) If the requirements of subsection (b) are satisfied, the
appropriate board shall transfer from the retirement fund described
in subsection (a)(2) to the judges' 1985 benefit system the amount
credited to the judge's or full-time magistrate's annuity savings
account and the present value of the retirement benefit payable at
sixty-five (65) years of age that is attributable to the transferring
participant.
(f) The amount a participant must contribute to the judges' 1985
benefit system under subsection (b) shall be reduced by the amount
transferred to the judges' 1985 benefit system by the appropriate
board under subsection (e).
(g) If the requirements of subsection (b) are satisfied, credit for
prior service in a public employees' retirement fund is waived.
(h) To the extent permitted by the Internal Revenue Code and the
applicable regulations, the judges' 1985 benefit system may accept,
on behalf of a participant who is purchasing permissive service credit
under subsection (b), a rollover of a distribution from any of the
following:
(1) A qualified plan described in Section 401(a) or Section
403(a) of the Internal Revenue Code.
(2) An annuity contract or account described in Section 403(b)
of the Internal Revenue Code.
(3) An eligible plan that is maintained by a state, a political
subdivision of a state, or an agency or instrumentality of a state
or political subdivision of a state under Section 457(b) of the
Internal Revenue Code.
(4) An individual retirement account or annuity described in
Section 408(a) or Section 408(b) of the Internal Revenue Code.
(i) To the extent permitted by the Internal Revenue Code and the
applicable regulations, the judges' 1985 benefit system may accept,
on behalf of a participant who is purchasing permissive service credit
under subsection (b), a trustee to trustee transfer from any of the
following:
(1) An annuity contract or account described in Section 403(b)
of the Internal Revenue Code.
(2) An eligible deferred compensation plan under Section
457(b) of the Internal Revenue Code.
As added by P.L.98-2004, SEC.17. Amended by P.L.122-2008,
SEC.23.
IC 33-38-8-24
Cost of living adjustments payable after December 31, 2007, and
December 31, 2008
Sec. 24. (a) This subsection applies to participants, survivors, and
beneficiaries receiving benefits as of December 31, 2007. The
amount of the monthly benefit received by a participant, survivor, or
beneficiary as of December 31, 2007, shall be increased by two
percent (2%). The increase under this subsection applies to monthly
benefits paid after December 31, 2007.
(b) This subsection applies to participants, survivors, and
beneficiaries receiving benefits as of December 31, 2008. The
amount of the monthly benefit received by a participant, survivor, or
beneficiary as of December 31, 2008, shall be increased by two
percent (2%). The increase under this subsection applies to monthly
benefits paid after December 31, 2008.
As added by P.L.68-2007, SEC.2.
IC 33-38-8-25
Cost of living adjustments for certain participants
Sec. 25. (a) This section applies:
(1) only to a participant:
(A) who applies to receive a retirement benefit from the fund
before January 1, 2010; or
(B) who:
(i) before January 1, 2010, separates from service;
(ii) is entitled to receive a retirement benefit from the fund
but does not apply before January 1, 2010, to receive a
retirement benefit; and
(iii) does not earn any service credit in the fund after
December 31, 2009; and
(2) only in state fiscal years beginning after June 30, 2010.
(b) If a salary increase is provided in a particular state fiscal year
under IC 33-38-5-8.1, the monthly benefit payable under this chapter
to a participant described in subsection (a) shall be increased by the
same percentage by which salaries are increased under
IC 33-38-5-8.1(b) in that state fiscal year. The percentage increase
shall be applied to the monthly benefit (including any previous
increases to the monthly benefit received under this section or under
any other provision) received by the participant as of June 30 of the
immediately preceding state fiscal year. The percentage increase to
the monthly benefit takes effect at the same time that the salary
increase under IC 33-38-5-8.1 takes effect.
(c) This subsection applies only if:
(1) a salary increase is not provided in a particular state fiscal
year under IC 33-38-5-8.1; and
(2) the salary of a judge is increased under IC 33-38-5-6,
IC 33-38-5-8, or any other provision enacted by the general
assembly in the state fiscal year.
The monthly benefit payable under this chapter to a participant
described in subsection (a) shall be increased by the same percentage
by which the salary being paid for the office that the participant held
at the time of the participant's separation from service is increased
under IC 33-38-5-6, IC 33-38-5-8, or any other provision enacted by
the general assembly. The percentage increase shall be applied to the
monthly benefit (including any previous increases to the monthly
benefit received under this section or under any other provision)
received by the participant as of June 30 of the immediately
preceding state fiscal year. The percentage increase to the monthly
benefit takes effect at the same time that the salary increase under
IC 33-38-5-6, IC 33-38-5-8, or any other provision enacted by the
general assembly takes effect.
(d) An increase payable under this section may not include any
amount based on the percentage by which any salary provided by a
county or counties under IC 36-2-5-14 or IC 36-3-6-3(c) is increased.
As added by P.L.122-2008, SEC.24.