IC 5-10.2-2-22: Retirement plans offered by miscellaneous participating entity that withdraws from or freezes participation in public employees' retirement fund

Sec. 22. (a) This section applies to a miscellaneous participating entity that:

(1) either:

(A) withdraws from the public employees' retirement fund under section 20 of this chapter; or

(B) freezes its participation in the public employees' retirement fund as described in section 21 of this chapter; and

(2) chooses thereafter to offer a retirement plan to its employees.

(b) Except as provided in subsection (c), a miscellaneous participating entity to which this section applies may offer a retirement plan to its employees only by participating in the defined contribution plan under IC 5-10.3-12.

(c) If, on July 1, 2015, a miscellaneous participating entity to which this section applies has established or is otherwise participating in a defined contribution plan other than the defined contribution plan under IC 5-10.3-12, the miscellaneous participating entity may continue to participate in the defined contribution plan in which the miscellaneous participating entity participated on July 1, 2015.