Indiana House Democratic Caucus

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Corporate profits should never win out over stability for Indiana retirees

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For immediate release:
Oct. 25, 2013


STATEHOUSE - State Rep. David L. Niezgodski (D-South Bend), who is a member of the Pension Management Oversight Commission (PMOC), issued the following statement expressing his disappointment in today's decision by the Indiana Public Retirement System (IPRS) Board of Trustees to ignore the significant concerns expressed by thousands of Hoosier retirees over the security of their retirement benefits:

       "I am truly disappointed by the Indiana Public Retirement System Board of Trustees' postponement of implementing the recommendations by the Pension Management Oversight Commission concerning annuity savings accounts.

       "The trustees delayed their decision in order to determine the Pension Management Oversight Commission's intent. However, the commission's unanimous decision was not confusing nor was there any conflict to leave any doubt about our intent.

       "We will remain on-course and I believe the right course is to keep the annuity savings accounts in-house.

       "The trustees must accept their responsibilities to the thousands of employees who have entrusted their futures to the state. It is not the time to dump that responsibility onto private interests whose greatest concern is their company quarterly earnings and profit margins."


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