STATEHOUSE (Sept. 24, 2026) – Indiana House Speaker Todd Huston (R-Fishers) applauded the announcement at today's Interim Study Committee on Pension Management Oversight that Indiana's Pre-1996 Teachers' Retirement Fund is expected to be fully funded a decade earlier than projected.
The Pre-96 fund supports pension payments for Hoosier teachers hired before July 1, 1995. It was designed to be a "pay-as-you-go" model where benefits are paid out as they come due. The fund supports nearly 52,000 retired teachers and will support approximately 3,900 additional currently active teachers.
Huston said additional payments on top of the annual appropriations will make the fund fully vested by 2028 instead of '38, saving future taxpayers the need to cover over $1 billion annually in defined benefit costs.
"Indiana's fiscal discipline is delivering real benefits for Hoosier educators and taxpayers," Huston said. "Through increased annual contributions to the teachers' retirement fund and additional one-time investments, Indiana has strengthened retirement security for our teachers, saved our schools billions and reduced a major long-term cost for taxpayers."
The General Assembly has earmarked nearly $14 billion to the Pre-96 fund in the last decade. More than $4 billion of that was additional contributions.
Indiana continues to maintain one of the lowest debt burdens among all states. According to S&P Global Ratings, Indiana has the fourth-lowest net tax-supported debt per capita in the country.
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House Speaker Todd Huston (R-Fishers) represents
House District 37, which includes a portion of Hamilton County.
