Public Pensions

Pension board, lawmakers hash out annuity worries

February 4, 2014
Associated Press
The Indiana state pension system is pressing ahead with a proposal to privatize state employees' annuity savings accounts, even as legislators consider placing a hold on the move for five years amid widespread concerns that state workers would lose valuable benefits.
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Democrats, labor question Indiana pension change

September 23, 2013
Jesse Wilson, The Statehouse File
Democratic lawmakers and labor unions representing public employees continued their push Monday against a change in how public workers invest a chunk of their savings.
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No more double dips for public pension retirees

March 29, 2013
Kathleen McLaughlin
The Indiana Legislature has passed a bill that would cut off supplemental benefits for public pensioners in their second careers — a practice commonly known as double-dipping.
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Daniels touts funding for teacher, judge pensions

October 4, 2012
Associated Press
Gov. Mitch 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.
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Indiana pension system is country's most conservativeRestricted Content

August 11, 2012
The Indiana Public Retirement System has cut its assumed rate of return from 7 percent to 6.75 percent, becoming the first large pension system in the country to go below 7 percent.
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State pensions' strategy shift causes manager fees to riseRestricted Content

July 28, 2012
Kathleen McLaughlin
The $25.3 billion Indiana Public Retirement System is in the midst of hiring managers to carry out a strategy where more money will be in hedge funds, private equity and real estate than stocks.
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Indiana senators approve state fair, education money

February 29, 2012
Associated Press
State senators allocated more state money for victims of the Indiana State Fair stage collapse and full-day kindergarten as part of a broad spending plan approved Wednesday.
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Indiana's public pension restructures investmentsRestricted Content

November 12, 2011
 IBJ Staff
The new asset mix, approved by the Indiana Public Retirement System’s board late last month, includes a lower concentration of public equities.
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Government pension performance stings citiesRestricted Content

September 17, 2011
Francesca Jarosz
The pension fund that holds benefits for public employees has seen improved investment returns over the last two years, but the hammering it took during the depths of the recession continues to deal a blow to cities, counties and other employers.
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Next state budget to spend $117M more on pensions

April 1, 2011
Associated Press
Indiana lawmakers plan to set aside more money in the next two-year budget to help deal with unfunded pension liabilities, but experts warn the amount needed to pay retirees will only grow in the next 15 years.
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New Jersey names Indiana's Walsh to head investment division

July 8, 2010
 IBJ Staff and Bloomberg News
Timothy Walsh will take over a $68 billion pension fund, eight times larger than the $8.5 billion Indiana State Teachers Retirement Fund he headed since 2008.
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Indiana pension fund officer takes N.C. post

June 8, 2010
 IBJ Staff and Associated Press
The chief investment officer for Indiana's public employee pension fund is taking a similar job in North Carolina at a base salary of $320,000.
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State's largest pension programs get new leader

May 11, 2010
 IBJ Staff and Associated Press
Steve Russo was chosen Monday as executive director of both the Indiana Public Employees' Retirement Fund and the Indiana State Teachers' Retirement Fund.
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Report: Indiana far short of funding teacher pensions

April 21, 2010
Associated Press
Indiana is among the nation's five most underfunded teacher pension programs, but low ranking is misleading.
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Pew study questions health of Indiana's public pensions

April 10, 2010
 IBJ Staff
The Washington, D.C.-based Pew Center on the States says Indiana “needs improvement” in setting aside money for retirees’ future health care and other benefits.
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$22.3 billion public pension merger poised to fail again

February 26, 2010
Peter Schnitzler
Key House Democrat recommends summer study for a Gov. Daniels legislative priority: consolidation of the $14.2 billion Indiana Public Employees Retirement Fund and the $8.1 billion Indiana State Teachers Retirement Fund.
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Daniels revives push to merge PERF, TRF pension fundsRestricted Content

January 30, 2010
Peter Schnitzler
Gov. Mitch Daniels wants legislators to revive a merger of the Indiana Public Employees Retirement Fund and the Indiana State Teachers Retirement Fund. He says the move could save up to $50 million a year in fees.
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Supreme Court rejects Indiana's appeal of Chrysler sale

December 14, 2009
 IBJ Staff and Associated Press
The justices on Monday turned down an appeal from the state of Indiana pension funds that earlier challenged the automaker's bankruptcy proceedings.
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Teachers' pension fund poised to buy downtown building from DukeRestricted Content

November 14, 2009
Cory Schouten
The Indiana State Teachers’ Retirement Fund is negotiating to buy a 12-story office building across from the Statehouse in what could be the year’s largest downtown office transaction.
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Pension merger raises questionsRestricted Content

March 9, 2009
We're generally supportive of a plan to merge the state's two largest public pensions in an effort to save money, but it's hard to know exactly what to think considering the lack of detailed information available about the performance of the funds.
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PERF confusionRestricted Content

March 9, 2009
I am not at all sure that a merger of two public pension plans is not a good idea, possibly just not under current investment management auspices.
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Consultants for PERF, TRF announce plan to mergeRestricted Content

March 9, 2009
Whether or not the Indiana Public Employees' Retirement Fund and the Indiana State Teachers' Retirement Fund consolidate, their primary financial consultants are merging.
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Indiana Public worker, teacher funds have lost $8B in 15 monthsRestricted Content

March 2, 2009
Peter Schnitzler
The state's two biggest pension funds are poised to combine into one Indiana Public Retirement System, with a single executive director and board.
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Basic investments are best for Indiana pension fundsRestricted Content

January 5, 2009
John Guy
IBJ reported in November that the Indiana Public Employees Retirement Fund will allocate 15 percent to 30 percent of its investments in "alternatives." Unfortunately, the term means nothing to those of us outside PERF and probably confuses PERF itself.
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Study says most U.S. pensions are poised to recoverRestricted Content

December 1, 2008
A new national analysis of U.S. public pension funds suggests most invest prudently, even in volatile times.
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