35 IAC 20-1-2 - Definitions

Authority: IC 5-10.5-4-2

Affected: IC 5-10.2-4-1; IC 5-10.3-8-14

Sec. 2.

As used in this rule:

(1) "Medical expenses" means expenses incurred by a retired employee, the retired employee's spouse, or the retired employee's dependent for medical care as defined in the Internal Revenue Code, Section 213(d), and which are not compensated for by insurance or otherwise.

(2) "PERF 401(h) Account" means an individual account established for each retired employee for whom leave is required to be converted under section 3 of this rule, which account is administered by the PERF 401(h) Accounts Team of the Indiana Public Retirement System and the balances of which may be used solely for the payment or reimbursement of medical expenses of retired employees, their spouses, and their dependents. The PERF 401(h) Account shall consist of the contributions to the account and all earnings on the deposits under section 6 of this rule, reduced by medical expenses paid or reimbursed from the PERF 401(h) Account and administrative costs allocable to the account.

(3) "Retired employee" means a former state employee who is eligible for and has applied to receive a normal, unreduced retirement benefit from the Public Employees' Retirement Fund as described in Indiana Code 5-10.2-4-1 contemporaneously with the former state employee's last day of service.

(4) "Dependent" means a dependent of the retired employee as defined in Internal Revenue Code (IRC), Section 152 without regard to subsections (b)(1), (b)(2), and (d)(1)(B). The term dependent also includes a retired employee's child (as defined in IRC Section 152(f)(1) who as of the end of a calendar year has not attained age twenty-seven (27). In the case of the retired employee's death, an individual shall remain a dependent under these rules until the individual reaches the age limitation (and does not fulfill the disability exception) set forth in IRC Section 152.

Notes

35 IAC 20-1-2

Board of Trustees of the Indiana Public Retirement System; 35 IAC 20-1-2; adopted Sep 14, 2012: 20120926-IR-035120542ONA