IC 5-10.2-2-24: Transition from guaranteed program to stable value fund program

Sec. 24. (a) After December 31, 2016, a member may not make contributions to the guaranteed program.

(b) For those members who as of December 31, 2016, have designated the guaranteed program as the investment program to receive all or part of the contributions to the member's annuity savings account, the board shall designate as a substitute one (1) or more alternative investment programs that are to receive those contributions after December 31, 2016. The designation by the board of an alternative investment program to receive a member's contributions under this subsection remains in effect until the member makes another allowable designation.

(c) After December 31, 2016, if a member has allocated all or part of the amount credited to the member to the guaranteed program, the board shall exchange the amount allocated to the guaranteed program by the member for an equivalent market value allocation to the stable value fund.

(d) The board shall eliminate the guaranteed program on January 1, 2017.

(e) After December 31, 2016, a member may allocate contributions and money invested in the alternative investment program to the stable value fund.