Ind. Code § 5-11-20-1 Applicable fiscal years
Sec. 1. This chapter applies only to a political subdivision's fiscal year beginning after December 31, 2012.
As added by P.L.47-2013, SEC.3.
Ind. Code ch. 5-11-20
Ind. Code ch. 5-11-20
in effectInd. Code § 5-11-20-1.5 "Delinquent political subdivision"
Sec. 1.5. (a) As used in this chapter, "delinquent political subdivision" means a political subdivision offering an employee retirement plan described in section 3(b) of this chapter that:
(1) received less than the actuarially determined contribution for at least three (3) out of the last five (5) immediately preceding fiscal years, as determined by the system or its agent; or
(2) was less than fifty percent (50%) funded at any time during the immediately preceding fiscal year, as determined by the system or its agent.
(b) As used in this chapter, "delinquent political subdivision" does not include a political subdivision offering an employee retirement plan described in section 3(b) of this chapter that:
(1) satisfies subsection (a)(1) or (a)(2) but is subject to an existing court order requiring the political subdivision to fund the plan benefits; or
(2) satisfies subsection (a)(1) or (a)(2) but was established some time during the last five (5) immediately preceding fiscal years.
(c) A police benefit fund qualifies as a delinquent political subdivision if it satisfies subsection (a)(1). A police benefit fund does not qualify as a delinquent political subdivision if it satisfies subsection (a)(2) but does not satisfy subsection (a)(1).
As added by P.L.129-2024, SEC.6 and P.L.136-2024, SEC.3.
Ind. Code § 5-11-20-2 "Political subdivision"
Sec. 2. As used in this chapter, "political subdivision" means a municipality or a local government unit, entity, or instrumentality to which IC 5-11-1-4 applies. The term does not include the state or an instrumentality of the state.
As added by P.L.47-2013, SEC.3.
Ind. Code § 5-11-20-2.5 "System"
Sec. 2.5. As used in this chapter, "system" refers to the Indiana public retirement system established by IC 5-10.5-2-1.
As added by P.L.129-2024, SEC.7 and P.L.136-2024, SEC.4.
Ind. Code § 5-11-20-3 Reporting requirement
Sec. 3. (a) After December 31, 2013, a political subdivision having an employee retirement plan described in subsection (b) shall, not later than the date each year on which the political subdivision's financial reports are due under IC 5-11-1-4, make an annual report for each of the political subdivision's employee retirement plans described in subsection (b) to the state board of accounts of the information specified in section 4 of this chapter for the political subdivision's immediately preceding fiscal year, in the manner prescribed by the state examiner.
(b) The retirement plans to which this chapter applies are the following:
(1) Each of the retirement funds for utility employees authorized under IC 36-9.
(2) Each county police force pension trust and trust fund authorized under IC 36-8.
(3) Each retirement program adopted by a board of a local health department as authorized under IC 16-1-4-25 (before its repeal) or IC 16-20-1-3.
(4) Each retirement benefit program of a joint city-county health department under IC 16-1-7-16 (before its repeal).
(5) Each pension and retirement plan adopted by the board of trustees or governing body of a county hospital as authorized under IC 16-12.1-3-8 (before its repeal) or IC 16-22-3-11.
(6) Each pension or retirement plan and program for hospital personnel in certain city hospitals as authorized under IC 16-12.2-5 (before its repeal) or IC 16-23-1.
(7) Each retirement program of the health and hospital corporation of a county as authorized under IC 16-12-21-27 (before its repeal) or IC 16-22-8-34.
(8) Each pension plan provided by a city, town, or county housing authority as authorized under IC 36-7.
(9) Each pension and retirement program adopted by a public transportation corporation as authorized under IC 36-9.
(10) Each system of pensions and retirement benefits of a regional transportation authority as authorized or required by IC 36-9.
(11) Each employee pension plan adopted by the board of an airport authority under IC 8-22-3.
(12) Each system of pensions and retirement provided by a unit under IC 36-1-3.
(c) The department of local government finance may not approve the budget of a political subdivision or a supplemental appropriation for a political subdivision until the political subdivision files each annual report required by subsection (a).
As added by P.L.47-2013, SEC.3.
Ind. Code § 5-11-20-4 Report elements
Sec. 4. A report required under section 3 of this chapter concerning a retirement plan must include the following information:
(1) The basic plan parameters, including the following:
(A) The type of plan.
(B) The plan administrator.
(C) The employer sponsoring the plan.
(2) If the plan is a defined benefit plan, the following:
(A) The plan's funding percentage ratio.
(B) The actuarial assumptions for the plan.
(C) The plan's investment returns for the preceding fiscal year.
(3) The total amount of contributions made by the plan sponsor during the preceding fiscal year.
(4) The number of plan participants, including the following:
(A) The number of active participants.
(B) The number of participants who are retired or separated from service.
(5) Any other information concerning the plan required by the state examiner.
As added by P.L.47-2013, SEC.3.
Ind. Code § 5-11-20-5 Annual summary by the state examiner
Sec. 5. The state examiner shall, not later than July 1 of each year, submit a report to the general assembly in an electronic format under IC 5-14-6 that summarizes the retirement plan information received for the immediately preceding fiscal year under section 3 of this chapter.
As added by P.L.47-2013, SEC.3.
Ind. Code § 5-11-20-6 Employee retirement plan delinquency notice; presentation
Sec. 6. (a) On or before June 15 of each year, the system shall send a delinquency notice to a delinquent political subdivision. The delinquency notice must inform the delinquent political subdivision of the following:
(1) An employee retirement plan offered by the delinquent political subdivision:
(A) received less than the actuarially determined contribution for at least three (3) out of the last five (5) immediately preceding fiscal years, as determined by the system or its agent; or
(B) was less than fifty percent (50%) funded at any time during the immediately preceding fiscal year, as determined by the system or its agent.
(2) That the delinquent political subdivision must comply with subsection (b).
(b) After receiving the notice described in subsection (a), a political subdivision shall make a presentation that includes a remediation plan to the interim study committee on pension management oversight (established by IC 2-5-1.3-4) regarding the delinquent employee retirement plan described in subsection (a).
As added by P.L.129-2024, SEC.8 and P.L.136-2024, SEC.5. Amended by P.L.104-2026, SEC.20.
Ind. Code § 5-11-20-7 Annual presentation by a county police department
Sec. 7. (a) This section applies only to a county police force pension trust and trust fund authorized under IC 36-8.
(b) This section does not apply to a county having a consolidated city.
(c) The county police department or the department's designee shall make an annual presentation on the information contained in a report under section 3 of this chapter for the county's immediately preceding fiscal year to the county council.
(d) A presentation described in subsection (c) must occur not later than two (2) months before the date of a public hearing on the proposed budget of the county.
As added by P.L.21-2025, SEC.1.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/5Fetched: 10/17/2026