Section 405 IAC 10-10-10 - Third party contributionsAuthority: IC 12-15-44.5-9
Affected: IC 12-15-44.5
Sec. 10.
(a) An employer or other third party defined in section 4(b)(3) of this rule may contribute up to one hundred percent (100%) of a member's annual POWER account obligation. If such an entity contributes less than a member's annual POWER account obligation, such amount shall be applied to the member's next due POWER account payment. Any excess amount shall be carried over from month to month until it is exhausted. A member shall be responsible for paying any balance in a given month.(b) Any contribution received from an employer or other third party defined in section 4(b)(3) of this rule shall be used to offset the member's required POWER account contribution only, and shall not be used to offset the state's contribution to the POWER account set forth in section 4(a) of this rule. Filed 5/18/2015, 12:34 p.m.: 20150617-IR-405140339FRAReadopted filed 8/18/2021, 9:55 a.m.: 20210915-IR-405210197RFA