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Q&A: Meet Rep. Joe Taylor, union president turned lawmaker

By Shelby Mullis TheStatehouseFile.com This story is part of a question and answer series with newly-elected members of the Indiana General Assembly. INDIANAPOLIS — While Rep. Joe Taylor, D-South Bend, is a freshman in the House, he’s a veteran auto worker, celebrating 21 years in the business. The third-generation auto worker is currently serving his […]

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Bill would order pension board to keep annuity system in house

By Halie Solea TheStatehouseFile.com INDIANAPOLIS – The House is set to consider legislation that will prevent the state from privatizing one part of public employee and teacher retirement funds. House Bill 1075 –authored by Rep. Woody Burton, R-Whiteland – tells the Indiana Public Retirement System that it can’t use a third party vendor to provide […]

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Pension board postpones decision on annuities, seeks clarification

By Lesley Weidenbener TheStatehouseFile.com INDIANAPOLIS – State 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. Members of the Indiana Public Retirement System Board of Trustees said Friday they aren’t sure if they can meet a […]

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Lawmakers ask pension board to keep annuity program in-house

By Lesley Weidenbener TheStatehouseFile.com INDIANAPOLIS – A legislative commission recommended Monday that pension officials scrap a proposal to privatize one part of the state retirement benefit system but lawmakers didn’t address plans to cut the rate of return on annuity payments. The Pension Management Oversight Commission can’t tell the administrators of public employee and teacher […]

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Lawmakers will revisit state pension decisions

By Jesse Wilson TheStatehouseFile.com INDIANAPOLIS – A legislative panel will consider asking state officials to back off a plan to privatize public employee retirement benefits and reconsider significant cuts to the rate of return on their annuity investments. The Pension Management Oversight Commission can’t tell the administrators of public employee and teacher retirement accounts what […]

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Pension funds get $360 million boost out of state’s surplus cash

By Lesley Weidenbener TheStatehouseFile.com INDIANAPOLIS – Gov. Mitch Daniels’ administration transferred $360 million to five pension programs Thursday under a plan meant to divvy up much of state government’s surplus. The money means the state’s future obligations for the pensions of judges, prosecutors and law enforcement officers are now 80 percent funded. That’s an amount […]

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Commentary: The Indiana retirement fund … a sucker bet?

By Phil Troyer The Indiana Policy Review Many years ago, I traveled to Las Vegas to attend a wedding. While there, I struck up a conversation with a young man who worked at the hotel in which we were staying. “Do you gamble much?” I asked. “No,” he replied. “I used to, but then I […]

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Report: Indiana and other states behind on pension obligations

By Suzannah Couch The Statehouse File INDIANAPOLIS – States – including Indiana – are not putting away enough money to fund future retirement benefits for public employees and teachers, according to a new report from the Pew Center on the States. The report released Tuesday by a division of the Pew Charitable Trusts found there […]

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Commentary: Is Rube Goldberg managing state pension funds?

By Phil Troyer Indiana Policy Review Goldberg, Rube (1883–1970) U.S. cartoonist; creator of the comic strip character Professor Lucifer Gorgonzola Butts (an inventor of complex mechanical devices to achieve simple tasks). It wasn’t mentioned in his State of the State message, but Gov. Daniels will leave for his successor a frustratingly complex and under-performing pension-management […]

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States look for better returns from pension plans, eye New York’s proposed overhaul

By Stephen C. Fehr Stateline staff writer Nearly every state has cut public pension benefits for new workers in the last three years, with an emphasis on reducing the money the states will owe to employees when they retire. Now, some state and local governments are turning to the other significant part of pension math: […]