We're delighted to have him as our permanent director. Governor O'Bannon appoints Dr. Christopher Wise Stoke Investments Spell Big Gains Volunteer Opportunity New Look Wise Stock Investments Spell Big Gains For State Retirees, Taxpayers, Too. 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 in a recent press release.
Most retirees depend on their pensions as their primary source of income.
And Indiana taxpayers are better off, too. What's more, the pension funds' managers made wise investment choices, O'Bannon added. PERF's equity investments achieved annualized returns comparable to those delivered by the benchmark Standard and Poor's 500 Index. 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.