Herbert Simon, 90, partnered with his brother, Melvin Simon, in 1960 to launch real estate company Melvin Simon & Associates.
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State Treasurer Daniel Elliott on Tuesday said he is “increasingly worried” about the impact of a recently announced deal that would see private equity firms acquire the parent of AES Indiana.
A Senate panel also considered raising monthly pension benefits for retired police and firefighters—along with contribution rates for local government employers.
As of October, about 3,700 INPRS members were eligible to request their earned retirement benefits, with median monthly payments ranging from $545.50 to $783.50.
The Indiana Public Retirement System is divesting from holdings worth almost $170 million more than two years after lawmakers banned investments in Chinese interests.
The state dropped New York City-based BlackRock as an asset manager after the Treasurer’s Office found it had considered ESG practices. But its replacement has a similar background.
The board of the Indiana Public Retirement System unanimously voted to replace Black Rock as the provider of global inflation-linked bonds to the system.
The Indiana Deferred Compensation Committee voted to eliminate public retirement assets from the funds as part of the state’s effort to divest from Chinese entities and funds prioritizing environmental, social and governance practices.
Comptroller Elise Nieshalla and Treasurer Daniel Elliott praised the pension system’s “speedy action” following 2023 legislation requiring divestment.
Indiana last year became the first to enact a law requiring the state’s public pension system to gradually divest from certain Chinese companies.
Indiana passed a law in 2023 directing the Indiana Public Retirement System board to refrain from making investments aimed at environmental, social, and governance issues.
Indiana should move from ad hoc public retirement benefit increases to a long-term approach that guarantees former public employees a 13th check or cost of living adjustment, or COLA, annually, an interim committee recommended Tuesday.
House Bill 1008 has been significantly watered down since it was first introduced, but Republicans say the anti-ESG legislation still accomplishes its intent.
Indiana’s public pension system over the next several months will consider participation in a $1 billion economic-development initiative proposed by outgoing Republican Gov. Mike Pence.
Mayor Joe Hogsett wants to replace traditional pensions for future employees with a retirement option more like a private-sector 401(k) as a way to help erase the city’s multimillion-dollar deficit.
The drop in oil prices since July left more money in consumer bank accounts, but it was costly to Indiana’s pension funds.
