{"data":{"id":"us-in/ic-20-28-9-19","jurisdiction":"us-in","citation":"IC 20-28-9-19","heading":"Retirement, savings, or severance pay plan","body":"Sec. 19. (a) If a governing body of a school corporation agrees to a retirement, savings, or severance pay plan with a teacher or with an exclusive representative under IC 20-29, the benefits may be paid to:\n(1) the teacher who is eligible under a negotiated retirement, savings, or severance pay plan; or\n(2) in the case of the teacher's death:\n(A) the teacher's designated beneficiary; or\n(B) the teacher's estate, if there is no designated beneficiary.\nPayments may be made in a lump sum or in installments as agreed upon by the parties or to a savings plan established under IC 5-10-1.1-1(2).\n(b) Notwithstanding IC 6-1.1-20, the payments under this section shall be made from the education fund of the school corporation and may be made for a period exceeding one (1) year.","path":["TITLE 20. EDUCATION","ARTICLE 28. SCHOOL TEACHERS","Chapter 9. Salary and Related Payments"],"source_url":"https://iga.in.gov/ic/2026/Title_20.html#20-28-9-19","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-01T01:34:30Z","sha256":"9f7ea845d125fc1e83f2670e00d0c343ebff1c81579ad32422141335e9793be3","source_id":"us-in","stale":false,"prev":"us-in/ic-20-28-9-18","next":"us-in/ic-20-28-9-20"},"notice":"GroundRules: Original legal text. Not legal advice."}