
No cost-of-living boost or 13th check for Indiana retirees
Despite billions in state reserves, fixed income retirees who are part of the Indiana public pension program won’t be getting a bonus benefit from the legislature this year.
Despite billions in state reserves, fixed income retirees who are part of the Indiana public pension program won’t be getting a bonus benefit from the legislature this year.
House Bill 1008 has been significantly watered down since it was first introduced, but Republicans say the anti-ESG legislation still accomplishes its intent.
A bill designed to prevent the state’s pension fund from working with asset managers that use environmental, social and governmental considerations in their investment strategies was advanced by the Indiana Senate Pensions and Labor Committee on Wednesday.
The Indiana pension system is keeping a close eye on its investment in a debt fund managed SVB Capital, a venture capital firm that is a subsidiary of Silicon Valley Bank’s parent company but separate from the bank itself.
The recent crypto meltdown has prompted a larger question: For pension funds that ensure teachers, firefighters, police and other public workers receive benefits in retirement after public service, is any amount of crypto investment too risky?
The largest concentrations of affected Delphi retirees are in Michigan (5,859), Ohio (5,181) and Indiana (4,044).
On Tuesday night, Holcomb said in his State of the State speech that the state will use $150 million from its surplus to pay off a teacher pension liability that schools have been gradually paying down.
The plan would be offered to teachers as an alternative to the current pension-style plan. Some fear the state eventually could try to phase out the latter.
The Indiana Public Retirement System lowered the interest rate on its annuity savings accounts on Oct. 1, possibly contributing to a 35-percent jump in retirements for state and local government workers this year.
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.
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.
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.
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.
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.
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.
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.
The new asset mix, approved by the Indiana Public Retirement System’s board late last month, includes a lower concentration of public equities.
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.
The Indiana General Assembly adjourned for the year late Friday, bringing an end to a roller-coaster legislative session that produced politically-charged legislation that will help shape elections next year and for the next decade.
A look at some major legislation considered this year by the Indiana General Assembly.