35 IAC 1.3-4-1 Participants of the plan

Sec. 1. (a) Participants of the plan are determined by IC 5-10.3-12 and this article. (b) Eligible participants must elect to participate in the plan defined in IC 5-10.3-12 within the first sixty (60) days of their employment, or the member will be defaulted to membership in either the plan or the fund, determined by the default membership elected by the employer in the resolution on file with INPRS. (c) The default described in subsection (b) is irrevocable. (d) If a participant terminates employment prior to making a participation election the participant will be defaulted to membership in either the plan or the fund, determined by the default membership elected by the employer in the resolution on file with INPRS. (e) An election made due to a material mistake by the participant may be corrected under INPRS' sole discretion within sixty (60) days following the end of the election period upon petition by the participant if the participant can prove to INPRS' satisfaction that the election was made due to a material mistake by the participant.