Indiana Administrative Code
Title 35 - BOARD OF TRUSTEES OF THE INDIANA PUBLIC RETIREMENT SYSTEM
Article 20 - 401(H) MEDICAL BENEFITS ACCOUNTS
Rule 1 - Plan Rules
Section 1-4 - Vacation leave valuation

Authority: IC 5-10.5-4-2

Affected: IC 5-10.3-8-14

Sec. 4.

For purposes of conversion, the value of vacation leave is determined as follows:

STEP ONE: Divide the employee's regular biweekly salary, as of the conversion date, by seventy-five (75).

STEP TWO: Multiply the quotient determined in STEP ONE by the number of hours to be converted.