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Daniels touts funding for teacher, judge pensions

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Gov. Mitch Daniels is touting investments in Indiana's public employee pension funds during his last few months in office.

Daniels said Thursday that $207 million will be invested in teacher pensions, along with $90 million toward judges' pensions and $32 million for police pensions.

The state closed its latest budget with roughly $2.2 billion in cash reserves. The state's automatic taxpayer refund mandates that $720 million of that money be split between returns to taxpayers and state pension funds.

Daniels dismissed concerns about the teachers' fund Thursday, but Senate budget leader Luke Kenley noted the problem will easily cost the state billions of dollars.

State pension officials told lawmakers this year the teacher pension payouts could begin eating $1 billion from the state budget each year in about a decade.

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  • OVERTAXED
    We the citizens are overtaxed by Mitch and this government. This is ridiculous that they have to find ways to spend our money
  • What me worry?
    I am not surprised that our gov is not worried about funding any pension fund. I believe our gov has taken the pension funds from 72% down to 62%. But, does he care, I doubt is, until the state needs to pay his pension check from pu- as bill put it - arithmatic.
  • really
    It's "now" not "know".....guess you should have listend a bit more to your teachers. Also, the teachers' fund is paid by the teachers. 3% of their salary goes to their retirement by state law. The state government just took 6 billion dollars of the teachers'money to put in the general fund during Bayh's administration with the promise to pay it back on an "as needed" basis. Facts are stubborn things.
  • Pension
    How about the daily working women and men that have to pay their own pension. So know we have to pay for these people. Again tax payers have topay for other people pension is totally wrong.

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