Introduced Version






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.





Sturtz




    January 17, 2001, read first time and referred to Committee on Ways and Means.







Introduced

First Regular Session 112th General Assembly (2001)


PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in this style type.
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
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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 IC 16-23-1.
    (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, but:
        (1) the hospital's assets have been sold to a private entity; and
        (2) the hospital's employees have become employees of the private entity;
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.