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Indiana pensions hit as economy drags on

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 | Updated on August 15, 2012

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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