From the Indiana Senate Republicans:
With affordability top of mind for Hoosiers, it’s important for your state government to live within its means – just like you and your families do.
Since 2021, Senate Republicans have prioritized paying off the money owed to the state’s only pay-as-you-go pension plan, the Pre-1996 Teachers’ Retirement Fund.
In 2018 before those efforts began, the expected payoff date was in 2037, but thanks to Senate Republicans aggressively contributing $4.3 billion in extra payments, the state will now be able to pay off the Fund’s liability in fiscal year 2028. Paying off this unfunded liability so much earlier provides the General Assembly more financial freedom and fiscal flexibility as the 2027 budget session approaches.
It also means Indiana teachers who dedicated their careers to educating the next generation can have peace of mind knowing their pensions are secure.
As your state senator, I am committed to providing you a state government that makes your hard-earned tax dollars go as far as they can, and I’ll continue working to make state government more efficient and your life more affordable.