Ind. Code § 36-8-6-14 – Priority of claims on insufficient funds; procedure for making pension payments; exemption of payments from judicial process

(a) If there is not sufficient money to the credit of the 1925 fund to pay all claims against it in full, claims arising from the death of members of the department shall be paid in full first with as little delay as possible, after which an equal percentage shall be paid upon all other claims to the full extent of the money on hand, until the fund is replenished.
(b) All pensions shall be paid by the treasurer of the local board at the treasurer's office at the same time and in the same installments as the members of the police department are paid.
(c) All pensions payable out of the 1925 fund are exempt from seizure or levy upon attachment, execution, supplemental process, and all other process, whether mesne or final. Except as provided in section 21 of this chapter, pensions are not subject to sale, assignment, or transfer by a beneficiary.
[Pre-Local Government Recodification Citation: 19-1-24-4 part.]
As added by Acts 1981, P.L.309, SEC.55. Amended by P.L.10-1993, SEC.14; P.L.127-2017, SEC.245.