Sec. 2. (a) A school corporation must fund on an actuarially sound basis the postretirement or severance benefits that will be paid to employees under a plan, an agreement, or a contract described in section 1(1) of this chapter or an increase described in section 1(2) of this chapter. (b) A school corporation must place the assets used to fund on an actuarially sound basis the postretirement or severance benefits in a separate fund or account, and the school corporation may not commingle the assets in the separate fund or account with any other assets of the school corporation. [Pre-2006 Recodification Citation: 21-2-20-2.] IC 20-42.5 ARTICLE 42.5. ALLOCATION OF EXPENDITURES TO STUDENT INSTRUCTION Ch. 1. Purposes and General Provisions Ch. 2. Authority to Allocate Expenditures to Student Instruction and Learning Ch. 3. State Board Action Ch. 4. Emergency Measures to Maintain Instruction and Learning Programs IC 20-42.5-1 Chapter 1. Purposes and General Provisions 20-42.5-1-1 Purposes of article 20-42.5-1-2 Supplemental nature of article
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