Authority: IC 5-10.2-2-1; IC 5-10.5-4-2

Affected: IC 5-10.2-3; IC 5-10.4-4

Sec. 12.5. (a) "De minimis account" or "de minimis amount" means an inactive, retired, retired for disability, suspended, or deceased member's ASA account whereby no regular and continuing contributions are being received, and the account has a balance of which the value is less than the actual cost of making a distribution of the balance to the member or the member's beneficiary. The account will be closed once there are insufficient assets to pay the administration costs of the account.

(b) "De minimis overpayment" means an active, inactive, retired, retired for disability, suspended, or deceased member's ASA account that received an overpayment totaling not more than two hundred fifty dollars ($250).

(Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.2-5-12.5; adopted Feb 22, 2019: 20190227-IR-035190137ONA; adopted Oct 28, 2022: 20221116-IR-035220338ONA)