5-10.3-12-31. Effect of reemployment on plan participation

IN Code § 5-10.3-12-31 (2019) (N/A)

Copy with citation

Copy as parenthetical citation

Sec. 31. (a) If a member of the plan separates from employment with the member's employer and later begins employment with the same or a different employer in a position covered by the plan:

(1) the member resumes the member's participation in the plan; and

(2) the member is entitled to receive credit for the member's years of participation in the plan before the member's separation.

Any amounts forfeited by the member under section 25(e) of this chapter may not be restored to the member's account.

(b) An individual who returns to state employment having had an opportunity to make an election under section 20 of this chapter during an earlier period of state employment is not entitled to a second opportunity to make an election under section 20 of this chapter.

(c) An individual described in section 1(a)(3) of this chapter who returns to employment with a participating political subdivision having had an opportunity to make an election under section 20.5 of this chapter during an earlier period of employment with the participating political subdivision is not entitled to a second opportunity to make an election under section 20.5 of this chapter with respect to that employer.

As added by P.L.22-2011, SEC.2. Amended by P.L.241-2015, SEC.36; P.L.209-2016, SEC.7; P.L.85-2017, SEC.9.

Previous Section

5-10.3-12-30. Member accounts; disability withdrawals; forms of payment

Next Section

5-10.3-12-32. Election by state or participating political subdivision to allow plan participation by retired reemployed fund members