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Current as of January 02, 2024 | Updated by FindLaw Staff
Sec. 3. The general assembly intends that, to the extent specified in this article, the payments to the fund by the state or the participating political subdivisions, the payment of all benefits, the payment of interest credits, and the payment of administration expenses are obligations of the state and the participating political subdivisions. However, this obligation is not a guarantee that the amount credited to a member in the annuity savings account will not vary in value as a result of the performance of the investment program selected by the member under IC 5-10.2-2, unless the member selected the guaranteed program (before its elimination on January 1, 2017), in which case the obligation is such a guarantee.
Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-10.3-2-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-10-3-2-3/
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