HOUSE BILL No. 1603
DIGEST OF INTRODUCED BILL
Citations Affected: None (noncode).
Synopsis: McCray Hospital pension account. Directs the board of
trustees of the public employees' retirement fund to transfer the fund
account of a county funded hospital that is sold to a private entity to the
fund account of the county that funded the hospital and to add the
transferred amount to the county's fund account. Provides that the
county assumes all of the assets and liabilities attributable to the
hospital's account, except for any liability for employer contributions
that arose before January 1, 2000. Cancels the liability of the hospital
for employer contributions that remain unpaid on July 1, 2001.
Effective: July 1, 2001.
January 17, 2001, read first time and referred to Committee on Ways and Means.
First Regular Session 112th General Assembly (2001)
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HOUSE BILL No. 1603
A BILL FOR AN ACT concerning pensions.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: ; (01)IN1603.1.1. -->
SECTION 1. [EFFECTIVE JULY 1, 2001] (a) This SECTION
applies to a city hospital in a third class city established under
(b) As used in this SECTION, "fund" refers to the public
employees' retirement fund established by IC 5-10.3-2-1.
(c) If, on July 1, 2001, a hospital described in subsection (a) has
an account with the fund for the benefit of its former employees,
(1) the hospital's assets have been sold to a private entity; and
(2) the hospital's employees have become employees of the
the board of trustees of the fund shall transfer the amounts in the
hospital's fund account, as determined by the board of trustees of
the fund, to the fund account of the county that funded the hospital
and shall add the amounts in the hospital's fund account to the
county's fund account.
(d) A county whose fund account includes amounts transferred
from the fund account of a hospital under subsection (c) assumes
all of the assets and liabilities attributable to the hospital's fund
account, except for any liability that:
(1) is attributable to employer contributions due the fund; and
(2) arose before January 1, 2000.
(e) Any liability of a hospital described in subsection (c) with
respect to employer contributions that remain unpaid on July 1,
2001, is canceled, and the fund may not take any further action to
collect those employer contributions.
(f) This SECTION expires January 1, 2002.