SOURCE: Page 2, line 42; (07)MO012802.2. -->
Page 2, after line 42, begin a new paragraph and insert:
SOURCE: IC 36-8-10-19; (07)MO012802.3. -->
"SECTION 3. IC 36-8-10-19 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2007]: Sec. 19.
(a) Except as
provided in subsection (c), a person entitled to
a an interest in or
share of a pension or benefit from the trust funds may not, before the
actual payment, anticipate it or sell, assign, pledge, mortgage, or
otherwise dispose of or encumber it. In addition, the interest, share,
pension, or benefit is not, before the actual payment, liable for the debts
or liabilities of the person entitled to it, nor is it subject to attachment,
garnishment, execution, levy, or sale on judicial proceedings, or
transferable, voluntarily or involuntarily.
(b) The trustee may expend the sums from the fund that it considers
proper for necessary expenses.
(c) Notwithstanding any other provision in this chapter, an
employee beneficiary who is receiving a normal or disability
monthly pension benefit under this chapter may, after June 30,
2007, authorize the trustee to pay a portion of the employee
beneficiary's monthly pension benefit to an insurance provider for
the purpose of paying a premium on a policy of insurance for
accident, health, or long term care coverage for:
(1) the employee beneficiary;
(2) the employee beneficiary's spouse; or
(3) the employee beneficiary's dependents (as defined in
Section 152 of the Internal Revenue Code).".
Renumber all SECTIONS consecutively.
(Reference is to ESB 128 as printed March 13, 2007.)
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MO012802/DI 102 2007