{"data":{"id":"us-in/ic-5-10.4-8-13","jurisdiction":"us-in","citation":"IC 5-10.4-8-13","heading":"Member death; payment to beneficiaries","body":"Sec. 13. (a) If a member dies:\n(1) while in service in a position covered by the plan; or\n(2) after terminating service in a position covered by the plan but before withdrawing the member's account;\nto the extent that the member is vested, the member's account shall be paid to the beneficiary or beneficiaries designated by the member on a form prescribed by the board. The amount paid must be valued as provided in IC 5-10.2-2-3. The board shall invest the total amount in the member's account in the stable value fund not later than thirty (30) days after receiving notification of a member's death.\n(b) If there is no properly designated beneficiary, or if no beneficiary survives the member, the member's account shall be paid to:\n(1) the surviving spouse of the member;\n(2) if there is not a surviving spouse, the surviving dependent or dependents of the member in equal shares; or\n(3) if there is not a surviving spouse or dependent, the member's estate.\n(c) The beneficiary or beneficiaries designated under subsection (a) or a survivor determined under subsection (b) may elect to have the member's account paid as:\n(1) a lump sum;\n(2) a direct rollover to another eligible retirement plan; or\n(3) a monthly annuity in accordance with rules of the board.\nA monthly annuity is an option only on or after the date the beneficiary or survivor becomes sixty-two (62) years of age. The board shall establish the forms of annuity by rule, in consultation with the board's actuary. Further, the board may establish a minimum account balance or a minimum monthly payment amount that is required in order for a beneficiary or survivor to select the monthly annuity option.","path":["TITLE 5. STATE AND LOCAL ADMINISTRATION","ARTICLE 10.4. STATE TEACHERS' RETIREMENT FUND","Chapter 8. Teachers' Defined Contribution Plan"],"source_url":"https://iga.in.gov/ic/2026/Title_5.html#5-10.4-8-13","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-02T16:11:39Z","sha256":"2c266b1173f62b72bb40fc5f4111e3f59b7c9058a25a7eda5a652475dd9fab9e","source_id":"us-in","stale":false,"prev":"us-in/ic-5-10.4-8-12","next":"us-in/ic-5-10.4-8-14"},"notice":"GroundRules: Original legal text. Not legal advice."}