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 5-5 - "Basic salary" or "compensation" defined
Current through September 18, 2024
Authority: IC 5-10.5-4-2
Affected: IC 5-10.2-4-3; IC 5-10.3-7-11
Sec. 5.
(a) Subject to subsection (b), "basic salary" or "compensation" means all compensation that is included as gross income as reported on the member's W-2 for covered service by a covered employer, plus the amounts stated in IC 5-10.2-4-3 that are not paid directly to the member.
(b) Compensation of not more than two thousand dollars ($2,000) pursuant to and in accordance with IC 5-10.2-4-3(e) (in contemplation of retirement) may be used in the total annual compensation from which the average of the annual compensation is determined. This includes, but is not limited to, retirement bonuses, commutation of unused sick or personal leave, and payments made under the retiree leave conversion [sic, conversion] program (RLCP) as set forth in 31 IAC 5-10.
(c) A member's basic salary or annual compensation must be certified by an official of the employing unit who has knowledge of and access to the records as set forth in IC 5-10.3-7-11. A member may not certify his or her basic salary or annual compensation.
(d) A member's basic salary or annual compensation must be certified by an official of the employing unit who has knowledge of and access to the records as set forth in IC 5-10.3-7-11. A member may not certify his or her basic salary or annual compensation.
