Section 35 IAC 1.3-6-10 - Unclaimed ASA assets within dormant accountsAuthority: IC 5-10.3-12-18; IC 5-10.5-4-2
Affected: IC 5-10.3-12
Sec. 10.
(a) Whenever a member's account has received no contributions for a period of twenty (20) years and the member is at least sixty-three (63) years of age, the fund may conduct an investigation to locate the member.(b) Reasonable costs of locating the member or the member's beneficiary may be charged against the member's ASA.(c) If the member or the member's beneficiary is not located after an investigation to locate the member, the monies in the member's ASA shall be credited to the fund and the fund shall retain the monies until the member or the member's beneficiary claims the monies with no further interest credits or earnings after the monies are credited to the fund.Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.3-6-10; adopted Sep 16, 2011: 20110928-IR-035110564ONA