Authority: IC 5-10.3-12-18; IC 5-10.5-4-2

Affected: IC 5-10.2-3-10; IC 5-10.3-12

Sec. 1. (a) Except as provided in subsection (d), each member in the plan will have an account that includes the following subaccounts:

1. (1) A member contribution subaccount as defined in IC 5-10.3-12-13.
2. (2) An employer contribution subaccount as defined in IC 5-10.3-12-9.

(b) To the extent a member has made rollover contributions to the plan, a rollover account as defined in IC 5-10.3-12-2 and IC 5-10.3-12-29 will be maintained on behalf of the member as a separate subaccount within the member's account.

(c) The accounts will be held and invested in the annuity savings account, subject to the provisions of IC 5-10.3-12 and this title, and the plan shall be a component of the fund.

(d) A volunteer firefighter member who joined the plan as result of IC 5-10.3-12-1(a)(7) shall have only a member contribution subaccount with respect to volunteer firefighter service.

(Board of Trustees of the Indiana Public Retirement System; 35 IAC 1.3-5-1; adopted Sep 16, 2011: 20110928-IR-035110564ONA; adopted Dec 14, 2012: 20121226-IR- 035120663ONA; adopted May 3, 2019: 20190515-IR-035190262ONA; adopted Jun 26, 2020: 20200708-IR- 035200360ONA)