Protecting the financial stability in Indiana
Recently, the Interim Study Committee on Pensions Management Oversight, on which I serve as vice chairperson, met to receive updates on the Indiana Public Retirement System (INPRS) and the Indiana State Police Pension Trust (SPPT). I was pleased to learn that both pension funds are funded adequately and continue to protect the assets of the families they represent across the state.
The INPRS is tasked with managing over $30 billion in assets and serves the needs of approximately 450,000 members and retirees, making INPRS one of the largest pension funds in the nation. During their presentation, they updated the committee on their future plans, including priorities for fiscal year 2016 through fiscal year 2018, which are ultimately aimed at enhancing member services.
Additionally, representatives from the SPPT spoke to the committee about their nationally recognized public pension plan. The SPPT, which provides pensions, death, survivor and other benefits to current and former employees of the Indiana State Police Department, works with the State Treasurer and the Pension Advisory Board to present unique investment portfolios that meet the needs of their members.
Interim study committees are an essential part of the legislative process, allowing us to look closer at topics that need to be addressed in our state before considering legislative action. As your state representative, I am working hard year-round to make Indiana the best state to live, work and raise a family. If you have questions about any of the interim study committees, you can see when they are meeting and their agendas by clicking here.
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