Authors: Senator R Michael Young, Senator James Buck, Senator Karen Tallian
Sponsors: Representative David Frizzell
Co-Sponsors: Representative Gregory Porter
Provides that contributions posted to a public employees' retirement fund (PERF) or teachers' retirement fund (TRF) member's annuity savings account (ASA) after the final date on which the PERF or TRF member's retirement benefit is processed may be distributed to the member as determined by the rules of the board of trustees (board) of the Indiana public retirement system. Removes a requirement that these contributions be paid as a lump sum. Requires the board to obtain the member's consent to the form of the distribution if the amount exceeds $1,000.