State officials predict $1 billion payment for teacher pension fund won’t be needed

INDIANAPOLIS, Ind. (ADAMS) – State officials are predicting a $1 billion annual payment to the state’s teacher pension fund won’t have to happen by 2028.

Indiana pension officials say the fund that covers teachers hired before 1996 could be fully funded by then. Since 2018, lawmakers have made $4.3 billion in extra payments to the fund, with the largest coming in 2022 for $2.5 billion.

Indiana Public Retirement System executive director Steve Russo says a $160 million payment in 2027 will put it at 100-percent funded status.