{"data":{"id":"us-in/ic-5-11-20-1.5","jurisdiction":"us-in","citation":"IC 5-11-20-1.5","heading":"\"Delinquent political subdivision\"","body":"Sec. 1.5. (a) As used in this chapter, \"delinquent political subdivision\" means a political subdivision offering an employee retirement plan described in section 3(b) of this chapter that:\n(1) received less than the actuarially determined contribution for at least three (3) out of the last five (5) immediately preceding fiscal years, as determined by the system or its agent; or\n(2) was less than fifty percent (50%) funded at any time during the immediately preceding fiscal year, as determined by the system or its agent.\n(b) As used in this chapter, \"delinquent political subdivision\" does not include a political subdivision offering an employee retirement plan described in section 3(b) of this chapter that:\n(1) satisfies subsection (a)(1) or (a)(2) but is subject to an existing court order requiring the political subdivision to fund the plan benefits; or\n(2) satisfies subsection (a)(1) or (a)(2) but was established some time during the last five (5) immediately preceding fiscal years.\n(c) A police benefit fund qualifies as a delinquent political subdivision if it satisfies subsection (a)(1). A police benefit fund does not qualify as a delinquent political subdivision if it satisfies subsection (a)(2) but does not satisfy subsection (a)(1).","path":["TITLE 5. STATE AND LOCAL ADMINISTRATION","ARTICLE 11. ACCOUNTING FOR PUBLIC FUNDS","Chapter 20. Retirement Plan Reporting"],"source_url":"https://iga.in.gov/ic/2026/Title_5.html#5-11-20-1.5","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-02T16:11:39Z","sha256":"6800f2d3fb2512ea5b83b594431924284995d70d0397d88031f1ea9e87211354","source_id":"us-in","stale":false,"prev":"us-in/ic-5-11-20-1","next":"us-in/ic-5-11-20-2"},"notice":"GroundRules: Original legal text. Not legal advice."}