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5-10.2-3-6.3. Suspension of membership; transfer of amount in annuity savings account to purchase service credit in sheriff's pension trust

IN Code § 5-10.2-3-6.3 (2019) (N/A)
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Sec. 6.3. (a) Notwithstanding any other provision in this article, IC 5-10.3, or IC 5-10.4, a member who:

(1) has not attained vested status in the fund;

(2) is not an active participant in the fund; and

(3) is an active participant in a retirement plan established under IC 36-8-10-12;

may suspend membership in the fund and transfer the entire amount in the member's annuity savings account in accordance with the member's purchase of service credit under IC 36-8-10-12.5.

(b) A member who makes a transfer under IC 36-8-10-12.5 from the member's annuity savings account shall provide notice of the transfer on a form provided by the board.

(c) A transfer under IC 36-8-10-12.5 is irrevocable.

(d) A member who makes a transfer under this section waives all credit for service in the fund.

As added by P.L.98-2009, SEC.1.

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