Indiana pension system launches database to help Hoosiers nab unclaimed retirement benefits
More than 6,000 members of the Indiana Public Retirement System have collectively left behind millions of dollars in benefits.
Retirement Benefits
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Stretched to serve in ‘legal deserts’
Although there are more than 1.3 million attorneys in the United States, “legal deserts” can be found across vast expanses of the country and all over Indiana, according to a recent report from the American Bar Association.
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Indiana pension system divesting from Hong Kong after ‘clarification’ on China divestment mandate
The Indiana Public Retirement System is divesting from holdings in Hong Kong worth almost $170 million, more than two years after lawmakers banned investments in Chinese interests.
‘Delinquent’ public pension stewards present improvement plans to lawmakers
Two units of local government with “delinquent” pension plans told lawmakers Monday that they’d find ways to bridge the shortfalls. The Fort Wayne Public Transportation Corporation, known as Citilink, and Vanderburgh County Sheriff’s Office both had to state their cases.
13th checks distributed to more than 160,000 public retirees
The Indiana Public Retirement System last week finished disbursing almost $60 million to more than 160,000 retired former public employees.
House panel moves retiree 13th check, hears concerns on school referenda levy cap
The House Ways and Means Committee on Thursday unanimously advanced a Republican leadership priority bill offering public retirees a bump in benefits.
House Republicans to push retiree 13th check, antisemitism bills; Democrats call for IEDC transparency, ballot initiatives and more
Indiana’s House Republicans will prioritize boosting retirement benefits for public employees and banning antisemitism in public educational institutions, alongside bills on job training and administrative law. Democrats, meanwhile, focused on accountability.
INPRS ‘ahead of schedule’ on China divestment, laying anti-ESG investment framework
Indiana’s Public Retirement System (INPRS) says it’s “ahead of schedule” in pulling out of its Chinese investments after lawmakers approved a ban in May.
COA upholds parenting time, division of assets in divorce case
A father challenging a parenting time order and the division of marital assets has failed to convince the Court of Appeals of Indiana to overturn the final order in his divorce case.
Biden issues first veto, taking on new Republican Congress
President Joe Biden issued the first veto of his presidency Monday, seeking to kill a Republican measure that bans the government from considering environmental impacts or potential lawsuits when making investment decisions for Americans’ retirement plans.
Rokita: No ‘woke’ criteria allowed in pension investments
Indiana and its investment managers can’t make government employee pension system investments based on environmental, social or governance criteria, Attorney General Todd Rokita wrote in an advisory opinion released Thursday.
COA: Deferred pension distribution not an error, but trial court should’ve protected wife’s portion until ex’s retirement
A trial court did not err in deferring the distribution of a man’s pension to his ex-wife until he retires, but it did err in failing to protect the ex-wife’s portion of the pension, the Court of Appeals of Indiana has ruled.
Cook Group sued for ‘unreasonably high fees’ in 401(k) plan
Cook Group, the Bloomington-based maker of medical devices, is being sued by a participant of its 401(k) retirement plan, who claims the plan charged unreasonably high fees, cutting the value of the retirement benefits.
Lilly faces lawsuit over alleged excessive retirement-plan fees
Eli Lilly and Co. is one of hundreds of U.S. companies being sued in the recent trend in litigation: excessive fees on 401(k) retirement plans.
Justices reverse for Clark REMC in dispute over health benefits for former employees
Former Clark County REMC directors weren’t guaranteed health insurance reimbursement in their retirement after a policy change terminated the benefit, the Indiana Supreme Court has ruled. In a Wednesday opinion, the high court reversed Clark Circuit Court’s grant of summary judgment to the plaintiffs after finding the REMC’s policy was not a binding contract because the policy wasn’t an offer.
Indianapolis man found guilty of securities fraud
An Indianapolis businessman who was accused of taking part in a Ponzi-like scheme that robbed numerous investors of their retirement savings has been convicted of conspiracy to commit securities fraud and wire fraud, federal authorities announced Monday.
Biden repeals Trump-era rule on gig workers
The Biden administration nullified a Trump-era rule Wednesday that would have made it easier to classify workers as independent contractors, blocking a change supported by delivery and ride-hailing services.
AP-NORC poll: Government should help Americans age at home
Most Americans agree that government should help people fulfill a widely held aspiration to age in their own homes, not institutional settings, a new poll finds.
COA majority holds Clark Co. REMC breached insurance contract, but dissent finds ‘logical fallacy’
A local utility breached its contract with its former directors when it revoked their health insurance coverage, a majority of the Indiana Court of Appeals has ruled. A dissenting judge, however, found that the majority engaged in a “logical fallacy” in holding that the utility was obligated to continue providing coverage to the plaintiffs.
Appeals court orders second remand of divorce dispute
A ex-husband will again take his challenge of the final judgment in his divorce case back to the trial court after the Indiana Court of Appeals ordered a second remand to address the division of marital property.
Appeals panel splits on division of $1M retirement accounts in prenup dispute
A dispute over the terms of a prenuptial agreement has resulted in the division of part of a man’s nearly $1 million retirement accounts with his ex-wife. A dissenting judge, however, would not award the wife any portion of the retirement funds.