(a) The board shall maintain the following separate accounts in the public employees' retirement fund:

1. (1) The annuity savings account.
2. (2) The retirement allowance account.

3. (3) A supplemental allowance reserve account for the purpose of paying postretirement benefit adjustments, including postretirement benefit increases, thirteenth checks, and other benefit changes or adjustments granted by the general assembly after June 30, 2018, to members of the public employees' retirement fund. The account consists of:

   1. (A) amounts allotted to the account by the board from amounts transferred to the Indiana public retirement system under IC 4-30-16-3 ;
   2. (B) amounts appropriated or transferred to the account by the general assembly;
   3. (C) contributions from employers under IC 5-10.2-12-3 ; and
   4. (D) donations, gifts, bequests, devises, and grants made to the account.

(b) The board shall maintain the following two (2) separate accounts in the Indiana state teachers' retirement fund:

1. (1) The pre-1996 account.
2. (2) The 1996 account.

(c) Within each account specified in subsection (b), the board shall maintain the following separate subaccounts:

1. (1) The annuity savings account.
2. (2) The retirement allowance account.
3. (3) A supplemental allowance reserve account for the purpose of paying postretirement benefit adjustments, including postretirement benefit increases, thirteenth checks, and other benefit changes or adjustments granted by the general assembly after June 30, 2018, to members of the Indiana state teachers' retirement fund.

(d) The supplemental allowance reserve account established under subsection (c)(3) for the pre-1996 account consists of:

1. (1) amounts allotted to the account by the board from amounts transferred to the Indiana public retirement system under IC 4-30-16-3 ;
2. (2) amounts appropriated or transferred to the account by the general assembly; and
3. (3) donations, gifts, bequests, devises, and grants made to the account.

(e) The supplemental allowance reserve account established under subsection (c)(3) for the 1996 account consists of:

1. (1) amounts allotted to the account by the board from amounts transferred to the Indiana public retirement system under IC 4-30-16-3 ;
2. (2) amounts appropriated or transferred to the account by the general assembly;
3. (3) contributions from employers under IC 5-10.2-12-3 ; and

4. (4) donations, gifts, bequests, devises, and grants made to the account.

   As added by Acts 1977, P.L.53, SEC.2. Amended by P.L.35-1985, SEC.3; P.L.54-1993, SEC.5; P.L.23-2011, SEC.8; P.L.127-2018, SEC.5.