Section 35 IAC 14-7-10 - Employer paymentsAuthority: IC 5-10.2-2-1; IC 5-10.5-4-2
Affected: IC 5-10.2-3-2; IC 5-10.2-4-2; IC 5-10.4-7-6; IC 5-10.4-7-8
Sec. 10.
(a) In accordance with and pursuant to IC 5-10.4-7, not later than January 15, April 15, July 15, and October 15 of each year, the treasurer of a school corporation, the township trustee, or the appropriate officer of any other institution covered by TRF shall make payments to TRF and make a report to TRF in a form and manner as described by TRF. Amendatory reports to correct errors or omissions may be required and made.(b) Notwithstanding subsection (a), as allowed in IC 5-10.4-7-6, once TRF gives reasonable notice to covered employers and after installation of the ERM system, the due date for contributions is seven (7) days after a covered employer's payroll.(c) Upon written request of TRF, covered employers shall submit their payroll date to PERF in a manner or form established by TRF within seven (7) days of receipt of such request.(d) Any payments not made on the due date may at TRF's discretion accrue interest at a rate equal to the rate established in section 9 of this rule.(e) Any employer who fails to submit required contributions and reports within thirty (30) days of the due date will be subject to a penalty as set forth in IC 5-10.4-7-8. If the thirtieth day following the due date falls on a Saturday, Sunday, or a legal holiday, the due date becomes the next working day. It shall be the responsibility of the local official to employ such method of delivery to insure that the report and payment will reach TRF on or before the due date.(f) An employer who has elected to pick up the mandatory employee contributions of its employees must do so by resolution in accordance with IC 5-10.2-3-2(d). An employer who wants to rescind its election to pick up the mandatory employee contributions must do so in writing with approval of its governing body. The change will be effective the quarter following the date TRF receives and approves the change.Board of Trustees of the Indiana Public Retirement System; 35 IAC 14-7-10; adopted Dec 16, 2009: 20100106-IR-550090990ONA; errata filed Jan 19, 2010, 12:48 p.m.: 20100203-IR-550100043ACA; errata filed Feb 17, 2010, 12:09 p.m.: 20100310-IR-550100109ACA; adopted Apr 21, 2010: 20100505-IR-550100241ONA; adopted Nov 19, 2010: 20101208-IR-550100723ONA; adopted Sep 16, 2011: 20110928-IR-035110563ONATransferred from the Board of Trustees of the Indiana State Teachers' Retirement Fund ( 550 IAC 2-7-8) to the Board of Trustees of the Indiana Public Retirement System ( 35 IAC 14-7-10) by P.L. 23-2011, SECTION 22, effective July 1, 2011.