Authority: IC 5-10.4-8; IC 5-10.5-4-2

Affected: IC 5-10.4-3; IC 5-10.4-8; IC 5-10.5-4

Sec. 1. (a) The teachers' defined contribution plan, created under IC 5-10.4-8-4 (hereinafter referred to as the plan) shall be administered by the INPRS board of trustees of the Indiana public retirement system (hereinafter referred to as the INPRS board). The plan is a separate defined contribution account of the Indiana state teachers' retirement fund under the administration of the INPRS board.

(b) The executive director of the fund shall have the same duties and authority over the plan as apply to the fund under 35 IAC 14-1- 12.

(c) The INPRS board shall have the same duties and authority over the plan as apply to the fund under IC 5-10.4-3 and IC 5-10.5-4.

(d) Pursuant to IC 5-10.4-8-5, the INPRS board shall implement this article within a reasonable amount of time after which the Internal Revenue Service issues an approval of the plan.

(Board of Trustees of the Indiana Public Retirement System; 35 IAC 14.1-1-1; adopted May 3, 2019: 20190515-IR-035190262ONA)