State Pensions and Debt Overview
Indiana Pension Liability
OMB Director Adam Horst's December 2012 presentation on the current status of Indiana's pension and other post-employment benefits (OPEB) liability.
Indiana Public Retirement System (INPRS) Comprehensive Annual Financial Reports (CAFRs).
Indiana Debt Overview
State of Indiana Debt Overview
The Indiana Finance Authority prepares a debt overview report that includes an overview of debt management, including the State’s credit rating and a detailed look at the State’s outstanding appropriation-backed and non-appropriation-backed debt.
Indiana Public Retirement System
The Indiana Public Retirement System (INPRS) includes the two largest public retirement plans in the state. These plans trace their existence back more than a generation to the early and middle parts of the 20th Century. The Indiana State Teachers’ Retirement Fund (TRF) was created in 1921 and the Indiana Public Employees’ Retirement Fund (PERF) was created in 1945. In 2011, the Indiana General Assembly integrated the management of the two systems under INPRS. Combined, the integrated system includes seven separate retirement funds, representing more than 233,000 active members and almost 122,000 benefit recipients.
For more information see Understanding INPRS.
Indiana Finance Authority
In order to provide economic efficiencies and management synergies and enable the State of Indiana ("State") to communicate as one voice with the various participants in the financial markets, the Indiana Development Finance Authority, the State Office Building Commission, the Indiana Transportation Finance Authority, the Recreational Development Commission, the State Revolving Fund Programs and the Indiana Brownfields Program were consolidated into a new and separate entity called the Indiana Finance Authority ("IFA") on May 15, 2005. The Indiana Health and Educational Facilities Finance Authority was also merged into the IFA, effective July 1, 2007.
As the successor entity to these formerly separate debt-issuing entities, the IFA is authorized to issue revenue bonds payable from lease rentals under lease agreements with various state agencies and to finance or refinance the cost of acquiring, building and equipping structures for state use including state office buildings, garages, highways, bridges, airport facilities, correctional facilities, state hospitals and recreational facilities related to State parks. The IFA’s revenue bonds and notes are special and limited obligations of the IFA, payable from lease rental revenue, bond or note proceeds and investment income. The IFA’s revenue bonds are not general obligations of the IFA nor are they State debt within the meaning of any constitutional provision or limitation. The IFA also manages the Wastewater and Drinking Water State Revolving Fund Loan Programs and the Indiana Brownfields Program.
Please visit the State of Indiana Investor Relations page for more information.