Section 35 IAC 14-2-7 - Interest credited to annuity savings and rollover accountsAuthority: IC 5-10.5-4-2
Affected: IC 5-10.2-2-4; IC 5-10.2-3-10; IC 5-10.4-4-13
Sec. 7.
(a) Contributions to the annuity savings account received by the fund that have not been allocated by the member will be credited to the guaranteed fund.(b) Contributions to a rollover account established under IC 5-10.2-3-10 that have not been allocated by the member shall be credited to the money market fund.(c) Notwithstanding subsection (a), once TRF engages the services of a record keeper, and said record keeper is authorized to perform daily valuation services and other such services as required and necessary to effectuate this subsection, contributions to the annuity savings account received by the fund that have not been allocated by the member will be credited to a target date fund established for the annuity savings account.(d) Notwithstanding subsection (b), once TRF engages the services of a record keeper, and said record keeper is authorized to perform daily valuation services and other such services as required and necessary to effectuate this subsection, contributions to the rollover savings account received by the fund that have not been allocated by the member will be credited to a target date fund established for the rollover savings account.Board of Trustees of the Indiana Public Retirement System; 35 IAC 14-2-7; filed Oct 5, 1992, 5:00 p.m.: 16 IR 705; readopted filed Dec 3, 2001, 11:02 a.m.: 25 IR 1731; adopted Mar 27, 2007: 20070404-IR-550070200ONA; adopted Jun 11, 2010: 20100623-IR-550100397ONATransferred from the Board of Trustees of the Indiana State Teachers' Retirement Fund ( 550 IAC 2-2-6) to the Board of Trustees of the Indiana Public Retirement System ( 35 IAC 14-2-7) by P.L. 23-2011, SECTION 22, effective July 1, 2011.