IC 5-10.3-12-22: Alternative investment programs; stable value fund program; requirements and rules; administrative fees

Sec. 22. (a) Subject to the board obtaining the approval of the Internal Revenue Service as described in section 18(b) of this chapter, the board shall establish:

(1) a stable value fund as the regular investment program for the plan; and

(2) alternative investment programs for the plan.

(b) The board may adopt requirements and rules that apply to the alternative investment programs within the plan, including the following:

(1) The board's investment guidelines and limits for the alternative investment programs.

(2) A member's selection of and changes to the member's investment options.

(3) The valuation of a member's account.

(4) The allocation and payment of administrative expenses for the alternative investment programs.

(c) The board shall determine the appropriate administrative fees to be charged to the member accounts.