Indiana Administrative Code
Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM
Article 1.2 - PUBLIC EMPLOYEES' RETIREMENT FUND
Rule 5 - Retirement and Disability Benefits
Section 5-12.1 - De minimis accounts
Current through September 18, 2024
Authority: IC 5-10.2-2-1; IC 5-10.5-4-2
Affected: IC 5-10.2-3-6
Sec. 12.1.
(a) If, after suspension, retirement, retirement for disability, death withdrawal, or other withdrawal, an inactive member's ASA account balance is below the de minimis amount as such amount is determined by PERF, PERF may close the member's account and credit the residual amount to the fund without further notice.
(b) A member or the member's beneficiary may claim the amount credited to the fund, and the account may be adjusted for gains, losses, or interest earnings unless otherwise limited by statute by petitioning PERF in writing.
(c) If the credited amount is from a suspended member's account, no gains or earnings shall be credited to the member's account in accordance with IC 5-10.2-3-6.
