35 Ind. Admin. Code 4-4-2

Current through January 8, 2025

Section 35 IAC 4-4-2 - Vesting of benefits

Authority: IC 5-10.5-4-2

Affected: IC 5-10-5.5-22

Sec. 2.

Vesting. A participant is vested under this fund upon:

(1) accumulating fifteen (15) years of creditable service; or

(2) for an officer who becomes a participant after becoming fifty (50) years of age, accumulating ten (10) years of creditable service. Pursuant to IC 5-10-5.5-22, officers who become participants after becoming fifty (50) years of age will not be eligible for the DROP until they have accumulated ten (10) years of service.

35 IAC 4-4-2

Board of Trustees of the Indiana Public Retirement System; 35 IAC 4-4-2; adopted Nov 21, 2008: 20090107-IR-035080955ONA