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.
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’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.
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.
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.
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.
The Indiana House is set to consider legislation that will prevent the state from privatizing one part of public employee and teacher retirement funds.
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.
A legislative commission recommended Monday that pension officials scrap a proposal to privatize one part of the state retirement benefit system.
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.
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.
Nyhart Actuary & Employee Benefits plans to invest $840,000 to lease and equip an expansion of its Indianapolis headquarters, and already has started hiring.
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.
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.
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.
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.
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 is drafting plans to offer thousands of university employees a voluntary retirement buyout.
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.
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.
