HB 1048-5_ Filed 04/11/2011, 09:56 Young R Michael
that Engrossed House Bill 1048 be amended to read as follows:
SOURCE: Page 11, line 3; (11)MO104804.11. -->
Page 11, between lines 3 and 4, begin a new paragraph and insert:
SOURCE: IC 5-10.5-4-1; (11)MO104804.4. -->
"SECTION 4. IC 5-10.5-4-1, AS ADDED BY SEA 549-2011,
SECTION 22, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
JULY 1, 2011]: Sec. 1. The board shall do all of the following:
(1) Appoint and fix the salary of a director.
(2) Employ or contract with employees, auditors, technical
experts, legal counsel, and other service providers as the board
considers necessary to transact the business of the fund without
the approval of any state officer, and fix the compensation of
(3) Establish a general office in Indianapolis for board meetings
and for administrative personnel.
(4) Provide for the installation in the general office of a complete
(B) accounts, including reserve accounts; and
to give effect to all the requirements of this article and to ensure
the proper operation of the fund.
(5) Provide for a report at least annually to each member of the
amount credited to the member in the annuity savings account in
each investment program under IC 5-10.2-2.
(6) With the advice of the actuary, adopt actuarial tables and
compile data needed for actuarial studies that are necessary for
the fund's operation.
(7) Act on applications for benefits and claims of error filed by
(8) Have the accounts of the fund audited annually by the state
board of accounts, and if the board determines that it is advisable,
have the operation of a public pension or retirement fund of the
system audited by a certified public accountant.
(9) Publish for the members a synopsis of the fund's condition.
(10) Adopt a budget on a calendar year or fiscal year basis that is
sufficient, as determined by the board, to perform the board's
duties and, as appropriate and reasonable, draw upon fund assets
to fund the budget.
(11) Expend money, including income from the fund's
investments, for effectuating the fund's purposes.
(12) Establish personnel programs and policies for the employees
of the system.
(13) Submit a financial report before November 1 each year to the
governor, the pension management oversight commission, and the
budget committee. The report under this subdivision must set
forth a complete operating and financial statement covering its
operations during the most recent fiscal year, and include any
other information requested by the chair of the pension
management oversight commission. The report must be submitted
to the pension management oversight commission in an electronic
format pursuant to IC 5-14-6.
(14) Establish a code of ethics or decide to be under the
jurisdiction and rules adopted by the state ethics commission.
(15) (14) Provide the necessary forms for administering the fund.
(16) (15) Submit to the auditor of state or the treasurer of state
vouchers or reports necessary to claim an amount due from the
state to the system.".
SOURCE: Page 25, line 39; (11)MO104804.25. -->
Page 25, between lines 39 and 40, begin a new paragraph and insert:
SOURCE: IC 4-4-11-15.1; IC 5-1.5-2-10; IC 5-13-12-3.1; IC 5-20-1-
4.1; IC 8-10-1-7.1; IC 9-15-2-2.2; IC 10-15-2-11; IC 14-12-1-10.1; IC
14-13-1-14.5; IC 15-13-2-13; IC 21-11-9-3; IC 26-4-3-10; IC 27-1-
; (11)MO104804.20. -->
"SECTION 20. THE FOLLOWING ARE REPEALED
[EFFECTIVE JULY 1, 2011]: IC 4-4-11-15.1; IC 5-1.5-2-10;
IC 5-13-12-3.1; IC 5-20-1-4.1; IC 8-10-1-7.1; IC 9-15-2-2.2;
IC 10-15-2-11; IC 14-12-1-10.1; IC 14-13-1-14.5; IC 15-13-2-13;
IC 21-11-9-3; IC 26-4-3-10; IC 27-1-29-27.1.".
Renumber all SECTIONS consecutively.
(Reference is to EHB 1048 as printed April 1, 2011.)
MO104804/DI 102 2011