Sec. 24.5. (a) A participating political subdivision shall make employer contributions to the plan based on the rate determined under this section.
(b) A participating political subdivision's contribution rate for the plan is equal to the sum of:
(1) the contribution rate determined by the participating political subdivision under IC 5-10.3-6-1(c); and
(2) the sum, for each member employed by the participating political subdivision, of:
(A) the member's additional contribution to the plan under section 23(d) of this chapter; multiplied by
(B) the participating political subdivision's matching rate determined under IC 5-10.3-6-1(d).
(c) For each employee of a participating political subdivision, the amount credited to the member's account is the part of the employer's contribution determined under subsection (b) that is attributable to the member's compensation and the member's additional contributions.
(d) A participating political subdivision shall submit the employer contributions determined under this section as provided in IC 5-10.2-2-12.5.
As added by P.L.241-2015, SEC.34.
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