Indiana pension funds took a temporary hit last year and may not rebound as much as public workers would like, based on long-term economic trends outlined for lawmakers Tuesday.
By Tom LoBianco|August 15, 2012 at 06:44 AM
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INDIANAPOLIS (AP) — Indiana pension funds took a temporary hit last year and may not rebound as much as public workers would like, based on long-term economic trends outlined for lawmakers Tuesday.
The state’s public pensions collected 1 percent interest on average last year, rather than the 7 percent the Indiana Public Retirement System originally expected. That immediate hit, plus a long-term decline in expectations, led pension leaders to tell members of the General Assembly’s Pension Management Oversight Committee that pension plans may have to kick in more money next year.
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