Indiana § 20-28-9-19 - Retirement, savings, or severance pay plan
Full text of Indiana Indiana Code § 20-28-9-19 — Retirement, savings, or severance pay plan, with citation guidance and answers to common questions.
§ 20-28-9-19. Retirement, savings, or severance pay plan
Sec. 19. (a) If a governing body of a school corporation agrees to a retirement, savings, or severance pay plan with a teacher or with an exclusive representative under IC 20-29, the benefits may be paid to:
(1) the teacher who is eligible under a negotiated retirement, savings, or severance pay plan; or
(2) in the case of the teacher's death:
(A) the teacher's designated beneficiary; or
(B) the teacher's estate, if there is no designated beneficiary.
Payments may be made in a lump sum or in installments as agreed upon by the parties or to a savings plan established under IC 5-10-1.1-1(2).
(b) Notwithstanding IC 6-1.1-20, the payments under this section shall be made from the education fund of the school corporation and may be made for a period exceeding one (1) year.
[Pre-2005 Elementary and Secondary Education Recodification Citation: 20-6.1-5-12.]
As added by P.L.1-2005, SEC.12. Amended by P.L.244-2017, SEC.54.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 20-28-9-19
What does Indiana Code § 20-28-9-19 cover?
Section 20-28-9-19 ("Retirement, savings, or severance pay plan") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 20-28-9-19?
A common citation format is "Indiana Code § 20-28-9-19" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 20-28-9-19 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.