Authority: IC 5-10.5-4-2

Affected: IC 5-10-5.5-22

Sec. 2. Vesting. A participant is vested under this fund upon:

1. (1) accumulating fifteen (15) years of creditable service; or
2. (2) for an officer who becomes a participant after becoming fifty (50) years of age, accumulating ten (10) years of creditable service. Pursuant to IC 5-10-5.5-22, officers who become participants after becoming fifty (50) years of age will not be eligible for the DROP until they have accumulated ten (10) years of service.

(Board of Trustees of the Indiana Public Retirement System; 35 IAC 4-4-2; adopted Nov 21, 2008: 20090107-IR- 035080955ONA)