Section 35 IAC 1.3-2-1 - DefinitionsAuthority: IC 5-10.3-12-18; IC 5-10.5-4-2
Affected: IC 5-10.2-2-2; IC 5-10.2-4-3; IC 5-10.3-12
Sec. 1.
The definitions in 35 IAC 1.2-2-1 apply throughout this article, unless the term is defined in this section 1 [this section], or unless the context otherwise clearly requires:
(1) "Annuity savings account" or "ASA" means the annuity savings account maintained under IC 5-10.2-2-2(a)(1), as described in IC 5-10.3-12-3.(2) "Compensation", for the purposes of IC 5-10.3-12-23 and this plan, means all compensation that is included as gross income as reported on the member's W-2 for covered service by a covered employer, plus the amounts stated in IC 5-10.2-4-3 that are not paid directly to the member.(3) "Employer contributions" means contributions made by the state credited to the member's employer contribution subaccount, as described in IC 5-10.3-12-9 and IC 5-10.3-12-24.(4) "Member's contributions" means the member's contributions credited to the member's contribution subaccount, as described in IC 5-10.3-12-13 and 5-10.3-12-23[IC 5-10.3-12-23 ], which is three percent (3%) of the member's compensation under IC 5-10.3-12-5.(5) "Plan" means the public employees' defined contribution plan established under IC 5-10.3-12.(6) "Vested" or "vested portion" means the portion of the member's account which is vested as described in IC 5-10.3-12-25.Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.3-2-1; adopted Sep 16, 2011: 20110928-IR-035110564ONA