Indiana pension fund's assets grew to a record high of $30.2 billion during 2014 budget year

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INDIANAPOLIS — The leader of Indiana's pension fund for retiring public employees and teachers says the fund's assets grew to a record high of $30.2 billion during the 2014 budget year.

Indiana Public Retirement System Executive Director Steve Russo told a legislative committee last week that "it was a very good, and some might say, a great year" for the pension fund. The fund's 13.7 percent investment return was more than double the 6.75 percent target.

The Times of Munster reports (http://bit.ly/1ut0HPI ) the fund's growth in net assets means the combined funded status of Indiana's seven pre-paid pension programs for state and local public employees and teachers now stands at 88.9 percent.

Pension experts generally consider a funding ratio of at least 80 percent satisfactory to meet future payment obligations.


Information from: The Times, http://www.thetimesonline.com

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