{"data":{"id":"us-in/ic-20-42-4-2","jurisdiction":"us-in","citation":"IC 20-42-4-2","heading":"Actuarial funding requirement; separate accounting","body":"Sec. 2. (a) A school corporation must fund on an actuarially sound basis the postretirement or severance benefits that will be paid to employees under a plan, an agreement, or a contract described in section 1(1) of this chapter or an increase described in section 1(2) of this chapter.\n(b) A school corporation must place the assets used to fund on an actuarially sound basis the postretirement or severance benefits in a separate fund or account, and the school corporation may not commingle the assets in the separate fund or account with any other assets of the school corporation.","path":["TITLE 20. EDUCATION","ARTICLE 42. FIDUCIARY FUNDS AND ACCOUNTS","Chapter 4. Funding of Retirement or Severance Plan"],"source_url":"https://iga.in.gov/ic/2026/Title_20.html#20-42-4-2","current_through":"2026","vintage":"2026","retrieved_at":"2026-08-01T01:34:30Z","sha256":"f04d5c710a1ba44a987e4be604a63fdd0db6b1925646c79a33a9884d68f24da8","source_id":"us-in","stale":false,"prev":"us-in/ic-20-42-4-1","next":"us-in/ic-20-42.5-1-1"},"notice":"GroundRules: Original legal text. Not legal advice."}