Indiana Public Employees' Retirement system, Indianapolis, was 96.8% funded as of July 1, the start of the current fiscal year, up from 95.3% a year earlier, according to a new actuarial report. The assets of six pension plans comprising the system total $15.9 billion, as of the July 1 data.
The largest plan, the Indiana Public Employees' Retirement Fund, was 97.6% funded as of July 1, with $11.2 billion in assets and almost $11.5 billion in liabilities, said Jeffrey D. Hutson, director of communications, in an interview.
"A funded status of 80% or greater represents a reasonably funded plan," Douglas Todd, senior actuary at McCready and Keene, the system's actuary, said in a statement on the report. "The fact that PERF's combined funded status is 96.8% means that the system may be considered to be very well funded."