State retirement oversight board removes BlackRock from portfolio for ESG violations
The board of the Indiana Public Retirement System unanimously voted to replace Black Rock as the provider of global inflation-linked bonds to the system.
Public Pensions
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Indiana pension system contracts with conservative anti-ESG firm
The contract with anti-ESG firm Strive Advisory, LLC and its co-founder Vivek Ram is capped at $150,000 — with conservative Republican presidential candidate Ramaswamy set to earn $4,000 per hour for ad hoc work.
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Anti-ESG pension bill’s high price tag a concern for governor, top lawmakers
State senators are pointing to their less-stringent alternative as House lawmakers scramble to tighten up their bill on environmental, social and governmental investment.
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Indiana pension system lost $200M-plus in Russia-Ukraine fallout
Indiana’s pension system lost $200 million in two months after Russia invaded Ukraine in early 2022, but that’s loose change for a system with $45.8 billion in assets invested all over the world.
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Articles
Indiana secretary of state targets BlackRock for alleged fraud over ESG funds
Indiana Secretary of State Diego Morales sent a cease and desist letter on Thursday, accusing BlackRock of making “false and misleading statements” about the asset management firm’s environmental, social or governance (ESG) funds.
How the state is policing pension asset managers for ESG commitments
The Indiana State Treasurer’s Office is evaluating about 10 to 15 asset investment managers for possibly oversteppping a new anti-ESG law, which bars the state’s pension board from making investments with the purpose of “influencing any social or environmental policy” for nonfinancial purposes.
No cost-of-living boost or 13th check for Indiana retirees
Despite billions in state reserves, fixed income retirees who are part of the Indiana public pension program won’t be getting a bonus benefit from the legislature this year.
Indiana bill targeting ESG investing heads to governor’s desk
House Bill 1008 has been significantly watered down since it was first introduced, but Republicans say the anti-ESG legislation still accomplishes its intent.
Indiana Senate committee advances pared down anti-ESG bill
A bill designed to prevent the state’s pension fund from working with asset managers that use environmental, social and governmental considerations in their investment strategies was advanced by the Indiana Senate Pensions and Labor Committee on Wednesday.
Indiana pension fund ‘monitoring’ Silicon Valley Bank developments
The Indiana pension system is keeping a close eye on its investment in a debt fund managed SVB Capital, a venture capital firm that is a subsidiary of Silicon Valley Bank’s parent company but separate from the bank itself.
Crypto plunge is cautionary tale for public pension funds
The recent crypto meltdown has prompted a larger question: For pension funds that ensure teachers, firefighters, police and other public workers receive benefits in retirement after public service, is any amount of crypto investment too risky?
Bill would restore pension benefits to 20K Delphi retirees
The largest concentrations of affected Delphi retirees are in Michigan (5,859), Ohio (5,181) and Indiana (4,044).
Gov. Holcomb announces plan to pay off pension liability, free up money for teacher raises
On Tuesday night, Holcomb said in his State of the State speech that the state will use $150 million from its surplus to pay off a teacher pension liability that schools have been gradually paying down.
House advances bill for offering 401(k)-style retirement plan to new teachers
The plan would be offered to teachers as an alternative to the current pension-style plan. Some fear the state eventually could try to phase out the latter.
State pension fund sees wave of retirements prior to rate drop
The Indiana Public Retirement System lowered the interest rate on its annuity savings accounts on Oct. 1, possibly contributing to a 35-percent jump in retirements for state and local government workers this year.
Pension board, lawmakers hash out annuity worries
The Indiana state pension system is pressing ahead with a proposal to privatize state employees' annuity savings accounts, even as legislators consider placing a hold on the move for five years amid widespread concerns that state workers would lose valuable benefits.
Democrats, labor question Indiana pension change
Democratic lawmakers and labor unions representing public employees continued their push Monday against a change in how public workers invest a chunk of their savings.
No more double dips for public pension retirees
The Indiana Legislature has passed a bill that would cut off supplemental benefits for public pensioners in their second careers — a practice commonly known as double-dipping.
Daniels touts funding for teacher, judge pensions
Gov. Mitch Daniels said Thursday that $207 million will be invested in teacher pensions, along with $90 million toward judges' pensions and $32 million for police pensions.
Indiana pension system is country’s most conservative
The Indiana Public Retirement System has cut its assumed rate of return from 7 percent to 6.75 percent, becoming the first large pension system in the country to go below 7 percent.
State pensions’ strategy shift causes manager fees to rise
The $25.3 billion Indiana Public Retirement System is in the midst of hiring managers to carry out a strategy where more money will be in hedge funds, private equity and real estate than stocks.
Indiana senators approve state fair, education money
State senators allocated more state money for victims of the Indiana State Fair stage collapse and full-day kindergarten as part of a broad spending plan approved Wednesday.
Indiana’s public pension restructures investments
The new asset mix, approved by the Indiana Public Retirement System’s board late last month, includes a lower concentration of public equities.