ANDREWS: With employee ownership, firm takes road less traveled
Indianapolis construction firm Shiel Sexton Co. finalized a transaction Sept. 30 making it 100 percent employee-owned.
Retirement Benefits
Articles
Social Security recipients to get tiny increase in benefits
Millions of Social Security recipients and federal retirees will get a 0.3 percent increase in monthly benefits next year, the fifth year in a row that older Americans will have to settle for historically low or no raises.
Vertellus pension plan to get $36M bailout from federal agency
A federal agency has stepped in to pay almost all of a $36 million shortfall in pension benefits for current and future retirees of Vertellus Specialties Inc., an Indianapolis-based manufacturer that is working its way through a Chapter 11 bankruptcy.
Hogsett seeks to eliminate city pensions
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.
Anthem workers file lawsuit over 401(k) fees in retirement plan
Anthem’s retirement plan is accused in a lawsuit of forcing about 60,000 workers and retirees to pay excessive fees by having to invest in Vanguard Group funds billed as low-cost options.
Pension Fund of the Christian Church president to retire
James P. Hamlett announced plans to step down from the $3 billion pension fund, which provides retirement benefits to clergy and lay church employees nationwide.
State pension fund sees wave of retirements prior to rate drop
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.
City controller floats idea to change retirement plans
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.
Bill would keep state’s annuity system in-house
The Indiana House is set to consider legislation that will prevent the state from privatizing one part of public employee and teacher retirement funds.
State pension board postpones decision on annuities
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.
Lawmakers ask pension board to keep annuity plan in-house
A legislative commission recommended Monday that pension officials scrap a proposal to privatize one part of the state retirement benefit system.
Duke Energy stops insuring retirees, joining trend
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.
State pension fund’s performance falls short of target
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.
Benefits firm to continue growth spurt, add 25 jobs
Nyhart Actuary & Employee Benefits plans to invest $840,000 to lease and equip an expansion of its Indianapolis headquarters, and already has started hiring.
No more double dips for public pension retirees
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.
Strong sales of retirement plans boost OneAmerica
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.
Indiana pension system is country’s most conservative
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.
State mulls ditching traditional pensions
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.
Government pension performance stings cities
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.
Indiana University to offer workers buyout plan
Indiana University is drafting plans to offer thousands of university employees a voluntary retirement buyout.