35 Ind. Admin. Code 1.3-3-1

Current through October 31, 2024

Section 35 IAC 1.3-3-1 - Years of participation

Authority: IC 5-10.3-12-18; IC 5-10.5-4-2

Affected: IC 5-10.2-3-1; IC 5-10.3-7-1; IC 5-10.3-7-4; IC 5-10.3-12

Sec 1.

(a) All years of participation for purposes of determining vesting under the plan are determined by IC 5-10.3-12 and this article.

(b) A member's years of participation shall be credited in yearly increments, and shall not be prorated for partial years of participation credit.

(c) If a plan participant:

(1) is employed in two (2) different plan-covered positions at the same time; and

(2) then terminates employment from either one (1) of those positions; the participant forfeits only those contributions, as described in IC 5-10.3-12-25(e), from the participating entity from which he or she terminates. The participant does not forfeit any member contributions.

(d) Participants who separate employment from one (1) participating entity in the plan retain their accumulated years of participation if the participant is hired by another participating entity.

(e) A participant's years of participation in the plan may only be used towards calculating the participant's vesting percentage in the plan. Years of participation in the plan may not be treated as creditable service in the fund.

(f) If a participant is employed in one (1) fund-covered position and at the same time is employed in a separate plan-covered position, the member is entitled to both creditable service in the fund and years of participation in the plan. If a plan participant is employed in two (2) plan-covered positions, the member may earn years of participation from only one (1) position at a time.

(g) For purposes of forfeiture under IC 5-10.3-12-25(e), "state employee" has the meaning set forth in IC 5-10.3-7-1.

(h) Members who separate from state employment forfeit any employer contributions, unless they return to state employment within thirty (30) days.

(i) Members who separate from employment with a participating political subdivision [sic] forfeit any employer contributions, unless they return to employment with the same political subdivision within thirty (30) days.

35 IAC 1.3-3-1

Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.3-3-1; adopted Sep 16, 2011: 20110928-IR-035110564ONA

Errata Filed 1/16/2018, 3:12 p.m.: 20180124-IR-035180061ACA