Indiana Pension Fund Assets Grow to Record High

INDIANAPOLIS (AP): 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 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.