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.
Retirement Benefits
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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.
More cash-strapped workers dipping into 401(k) accounts
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.
Visteon ordered to reinstate health care to retirees
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.
AARP backs retirees in court fight over IPL benefits plan
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.
Veolia concessions worry regulators
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.
Biden to announce retirement savings safeguards
The Obama administration on Friday is proposing regulations aimed at protecting workers' retirement savings.
Daniels revives push to merge PERF, TRF pension funds
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.
Retirement plans changing as employers cut costs, workers crave stability
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.
IPL wins retiree benefit dispute
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.