Section 35 IAC 14-2-5 - Benefit payments pending appealAuthority: IC 5-10.5-4-2
Affected: IC 5-10.2-4; IC 5-10.4-5-9; IC 34-13-1-6
Sec. 5.
(a) A member who elects to exercise the right to appeal an adverse decision issued by TRF may receive benefit payments less the disputed amount while the matter is pending. Should the matter be resolved in the member's favor, future benefits will be adjusted accordingly and a lump-sum payment for past benefits due shall be issued within sixty (60) days. If, however, the necessary information has not been provided or was delayed, the sixty (60) day period will be extended accordingly.(b) Whenever, by final decree or judgment, a sum of money is adjudged to be due to a person, the judgment shall draw an annual rate of interest as described in IC 34-13-1-6. The fund shall not pay prejudgment interest.Board of Trustees of the Indiana Public Retirement System; 35 IAC 14-2-5; filed Oct 5, 1992, 5:00 p.m.: 16 IR 704; readopted filed Dec 3, 2001, 11:02 a.m.: 25 IR 1731; adopted Mar 27, 2007: 20070404-IR-550070200ONA; adopted Dec 16, 2009: 20100106-IR-550090990ONATransferred from the Board of Trustees of the Indiana State Teachers' Retirement Fund ( 550 IAC 2-2-3) to the Board of Trustees of the Indiana Public Retirement System ( 35 IAC 14-2-5) by P.L. 23-2011, SECTION 22, effective July 1, 2011.