Retirement Benefits

City controller floats idea to change retirement plans

April 23, 2014
Kathleen McLaughlin
If the plan is carried out, new city employees wouldn't be eligible for pensions through the Indiana Public Retirement System. Instead, they would have a defined-contribution plan similar to the 401(k) plans offered by private-sector employers.
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Bill would keep state's annuity system in-house

January 24, 2014
Halie Solea, The Statehouse File
The Indiana House is set to consider legislation that will prevent the state from privatizing one part of public employee and teacher retirement funds.
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State pension board postpones decision on annuities

October 25, 2013
 The Statehouse File
Indiana pension officials say they want more information from lawmakers before they consider abandoning a plan to privatize one part of a retirement plan for teachers and public employees.
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Lawmakers ask pension board to keep annuity plan in-house

October 21, 2013
 The Statehouse File
A legislative commission recommended Monday that pension officials scrap a proposal to privatize one part of the state retirement benefit system.
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Duke Energy stops insuring retirees, joining trend

September 18, 2013
Associated Press
The country's largest electric company last week began notifying about 14,500 retirees of Duke Energy and predecessors or subsidiaries in North Carolina, South Carolina, Florida, Ohio, Indiana and Kentucky.
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State pension fund's performance falls short of targetRestricted Content

August 31, 2013
Kathleen McLaughlin
With more money in bonds than in publicly traded stocks, Indiana’s $27.1 billion pension fund took a beating in the Bernanke sell-off and closed the fiscal year short of its targeted return.
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Benefits firm to continue growth spurt, add 25 jobs

July 1, 2013
Mason King
Nyhart Actuary & Employee Benefits plans to invest $840,000 to lease and equip an expansion of its Indianapolis headquarters, and already has started hiring.
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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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Strong sales of retirement plans boost OneAmerica

March 22, 2013
Chris O'Malley
A big bet on employer-sponsored retirement plans is paying off for locally based OneAmerica Financial Partners, a company best known for its life insurance offerings.
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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 mulls ditching traditional pensionsRestricted Content

November 5, 2011
Francesca Jarosz
Lawmakers are mulling converting the state’s pension system into a 401(k)-like model, bringing Indiana into the heated national debate over public pensions.
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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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Indiana University to offer workers buyout plan

March 11, 2011
Associated Press
Indiana University is drafting plans to offer thousands of university employees a voluntary retirement buyout.
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More cash-strapped workers dipping into 401(k) accounts

August 20, 2010
Associated Press
A record number made hardship withdrawals in the second quarter, and the number of of workers who borrowed from their accounts reached a 10-year high, according to Fidelity Investments.
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Visteon ordered to reinstate health care to retirees

August 17, 2010
Bloomberg News
The mandate from a U.S. bankruptcy judge will supply retroactive benefits to more than 6,000 Visteon Corp. retirees who lost insurance coverage after the Michigan-based auto-parts maker filed for bankruptcy in 2009, including 2,100 workers in Indiana.
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AARP backs retirees in court fight over IPL benefits plan

May 20, 2010
Chris O'Malley
The AARP says IPL "perverted" a promise to its retirees regarding post-retirement benefits. The retirees have appealed their case to the Indiana Supreme Court.
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Veolia concessions worry regulatorsRestricted Content

May 8, 2010
Chris O'Malley
Testimony filed in Indianapolis Water Co.'s rate case shows the city in 2007 agreed to take on millions of dollars in costs from the private firm it hired to operate the utility, including $48 million in retiree medical plan obligations.
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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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Retirement plans changing as employers cut costs, workers crave stabilityRestricted Content

June 8, 2009
J.K. Wall
Last fall's Wall Street meltdown, which erased half the value of some 401(k) retirement plans, has both employers and employees re-examining what to expect long term.
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IPL wins retiree benefit disputeRestricted Content

May 25, 2009
Chris O'Malley
Indianapolis Power & Light could have been on the hook for more than $100 million in retirement benefits, but a ruling this month by the Indiana Utility Regulatory Commission allows IPL to keep the money.
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Fearful companies are curtailing employee insurance, retirement perksRestricted Content

March 2, 2009
J.K. Wall
Experts worry that if unemployment worsens, even more companies could be forced to cut benefits, especially health insurance.
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Companies face pension-plan shortfallsRestricted Content

November 24, 2008
Chris O'Malley
Private employers that still offer traditional pension plans are getting a big shock as they assess how much more it will cost to shoulder retirement obligations.
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WellPoint 401(k) participants sue over decline in stock priceRestricted Content

June 9, 2008
J.K. Wall
Angela Braly, Wayne DeVeydt and the rest of the top brass at WellPoint Inc. face wrath over the company's recent stock swoon from a new group: ex-employees. Four former WellPoint workers have filed lawsuits against the Indianapolis-based health insurance giant over the losses its 401(k) retirement plan suffered in March when the company slashed its profit forecast for the year.
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Union says utility owes $115MRestricted Content

November 19, 2007
Chris O'Malley
In a case with huge financial implications for Indianapolis Power & Light and Virginia parent AES Corp., a labor union and 16 IPL retirees have asked regulators to force the utility to pay up to $115 million to back-fund a retirement plan it spun off in 2001.
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