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IN SB0034
Bill
Status
1/6/2015
Primary Sponsor
Philip Boots
Click for details
AI Summary
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Transfers trusteeship of the Indiana State Police pension trust and police benefit fund from the Treasurer of State to the Board of Trustees of the Indiana Public Retirement System, effective July 1, 2015
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Requires the Treasurer of State to transfer all mortality reserve, disability reserve, and dependent pension reserve accounts to the new board
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Allows the new trustee to commingle or pool state police pension assets with other public pension funds managed by the Indiana Public Retirement System, subject to the same investment powers and restrictions
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Transfers all powers, duties, liabilities, property, equipment, records, rights, and contracts from the Treasurer of State to the board as of July 1, 2015
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Requires the board to provide indemnification to the Treasurer of State for any liabilities of the police benefit fund assumed by the board
Legislative Description
State police pension fund trustee. Provides that, after June 30, 2015, the trustee of the state police pension trust and the state police benefit fund is the board of trustees of the Indiana public retirement system.
Last Action
First Reading: referred to Committee on Pensions & Labor
1/6/2015