An independent study shows Indiana s public pension funds are flourishing in the stock market, benefiting retirees and taxpayers alike, Governor Frank O Bannon said today.
Most retirees depend on their pensions as their primary source of income.
Indiana s retired teachers and other public employees will have a greater sense of security knowing that their pensions are protected by the strong financial performance of PERF and TRF, O Bannon explained. And Indiana taxpayers are better off, too. What s more, the pension funds managers made wise investment choices, O Bannon added. Figures used in the fiscal institute s study run through the end of 1999. Meanwhile, bonds, formerly the mainstays of the pension funds, plodded along with annual returns below 7 percent, the report said.