Sec. 14. (a) If there is not sufficient money to the credit of the 1925 fund to pay all claims against it in full, claims arising from the death of members of the department shall be paid in full first with as little delay as possible, after which an equal percentage shall be paid upon all other claims to the full extent of the money on hand, until the fund is replenished.
(b) All pensions shall be paid by the treasurer of the local board at the treasurer's office at the same time and in the same installments as the members of the police department are paid.
(c) All pensions payable out of the 1925 fund are exempt from seizure or levy upon attachment, execution, supplemental process, and all other process, whether mesne or final. Except as provided in section 21 of this chapter, pensions are not subject to sale, assignment, or transfer by a beneficiary.
(d) However, the member's contributions or benefits, or both, may be transferred to reimburse the member's employer for loss resulting from the member's criminal taking of the employer's property by the treasurer of the local board if the treasurer receives adequate proof of the loss. The loss resulting from the member's criminal taking of the employer's property must be proven by an order for restitution in favor of the employer issued by the sentencing court following a felony or misdemeanor conviction.
(e) The treasurer of the local board may withhold payment of the member's contributions and interest if the employer of the member notifies the treasurer that felony or misdemeanor charges accusing the member of the criminal taking of the employer's property have been filed.
(f) The treasurer of the local board may withhold payment of a person's contributions and interest under subsection (e) until the final resolution of the criminal charges.
(g) Subsections (e) and (f) do not apply to the:
(1) pension benefit of a retired member; or
(2) disability benefit of a member who becomes disabled.
[Pre-Local Government Recodification Citation: 19-1-24-4 part.]
As added by Acts 1981, P.L.309, SEC.55. Amended by P.L.10-1993, SEC.14; P.L.127-2017, SEC.245; P.L.203-2019, SEC.7.
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