Indiana Code Title 2. General Assembly § 2-3.5-5-5.5

Sec. 5.5. (a) This section applies to contributions to the defined contribution fund made by the state after December 31, 2008.

(b) This subsection applies after December 31, 2008.  Notwithstanding IC 2-3.5-2-10, as used in this section, “salary” means the total of the following amounts paid to a participant by the state for performing legislative services in the year in which the amounts are paid, determined without regard to any salary reduction agreement established under Section 125 or Section 457 of the Internal Revenue Code:

(c) This subsection applies after December 31, 2008.  The state shall make a contribution to the defined contribution fund on behalf of each participant on June 30 of each year.  The amount of the contribution is determined by multiplying the participant's salary for that year by a percentage determined for that year by the board under subsection (d).

(d) This subsection applies after December 31, 2008.  The board shall use the following rates in determining the percentage described in subsection (c):

(e) This subsection applies after December 31, 2008.  The budget agency shall confirm the percentage determined by the board.  The percentage confirmed by the budget agency may not exceed the total contribution rate paid that year by the state to PERF for state employees.