IC 5-10.5-7-2: Transfer or assumption of tangible and intangible property; transfer of powers and duties

Sec. 2. (a) All powers, duties, liabilities, property, equipment, records, rights, and contracts of the:

(1) board of trustees of the public employees' retirement fund; and

(2) board of trustees of the teachers' retirement fund;

are transferred to or assumed by the board on July 1, 2011.

(b) The board shall provide indemnification of:

(1) the board of trustees of the public employees' retirement fund; and

(2) the board of trustees of the teachers' retirement fund;

as necessary or appropriate in regard to any liabilities of the public employees' retirement fund or the teachers' retirement fund assumed by the board.