Section 35 IAC 1.2-6-2 - Admission to the fundAuthority: IC 5-10.5-4-2
Affected: IC 5-10.2; IC 5-10.3-2-1; IC 5-10.3-6-1
Sec. 2.
(a) Admission to the fund by a political subdivision shall be governed by IC 5-10.3-6-1.(b) In addition, any political subdivision whose existence is subject to termination or whose funding is dependent upon sources external to it must demonstrate to the board's satisfaction that any problems which might arise are fully addressed and resolved or it will not be admitted. The board's consideration and determination will be guided in part by the political subdivision's demonstrated ability to meet all obligations to the fund, both current and ongoing.(c) A township trustee will not be considered as the governing body of a township for purposes of the fund and the board will not approve any ordinance or resolution coming solely from such township trustees.Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.2-6-2; filed Dec 20, 1988, 1:00 p.m.: 12 IR 1085; readopted filed Oct 31, 2001, 2:18 p.m.: 25 IR 897; adopted Nov 9, 2007: 20071205-IR-035070818ONA