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‘Delinquent’ public pension stewards present improvement plans to lawmakers

Vanderburgh County Sheriff Noah Robinson (left) watches as County Council President Jill Hahn testifies to lawmakers

Vanderburgh County Sheriff Noah Robinson (left) watches as County Council President Jill Hahn testifies to lawmakers on Monday, Sept. 23, 2024, as Nyhart Actuarial Consultant Kevin Carey looks on. (Screenshot of livestream)

Two units of local government with “delinquent” pension plans told lawmakers Monday that they’d find ways to bridge the shortfalls.

The Fort Wayne Public Transportation Corporation, known as Citilink, and Vanderburgh County Sheriff’s Office both had to state their cases.

Vanderburgh County law enforcement hasn’t paid the minimum amount required to support its Police Retirement Plan for four out of the last five years, landing the plan on lawmakers’ naughty list.

“We know we’ve been headed this direction for a long time, and now, — as a new sheriff, relatively, about a year and a half in office — I knew that this is going to have to be something that we address sooner rather than later,” Sheriff Noah Robinson said.

He assured lawmakers, in a statutorily required presentation, that his team was aware of the problem and was working on solutions.

Local units of government can become “delinquent” for their pension plans if they:

  • Haven’t met the minimum employer contribution for at least three of the last five years, or
  • Have less than a 50% funded status for the most recent reporting year.

The local pension board has implemented austerity measures, according to slides by Nyhart Actuarial Consultant Kevin Carey: ad hoc cost-of-living adjustments (COLA’s) for retirees have been on pause since at least 2009, the normal retirement age was bumped from 50 to 55, and time off cash-outs aren’t part of the employee benefit plan anymore.

The board, Carey said, seeks to pull at least $100,000 annually from the sheriff’s jail commissary fund — and additional money from the county council — to support the pension fund.

Vanderburgh County Council President Jill Hahn, however, described feeling blindsided by the news.

“We’re kind of at a loss, because the past several years, we have done good faith by getting our sheriffs increases in wages,” Hahn said. She said law enforcement employees “deserve(d) it,” but that the council may have put more money into the pension plan instead of pay raises, had it known.

“There’s only so much money in that we can draw, and we don’t want to have this as a burden to our taxpayers, either,” she added.

She noted that the council only recently learned of the plan’s state, even though it hasn’t met its minimum payment since at least 2019.

Since 2013, the General Assembly has required the Indiana Public Retirement System (INPRS) — which runs the state’s plans — to summarize data on local plans.

But it was only in the 2024 legislative session that lawmakers defined a “delinquent” local unit of government and required INPRS to notify local leaders about that status.

They also mandated that leaders of the delinquent unit present a remediation plan to the lawmaker-dominated interim Pension Management Oversight Committee.

“As you can see, we have some work to do at home to find the solution,” Robinson concluded. “But we know that the solution will come somewhere in the form, of course, meeting the (actuarily defined contribution) going forward.”

The Fort Wayne Public Transportation Corporation, known as Citilink, has missed its minimum for the last five years.

CEO and General Manager John Metzinger said there has been “total turnover” in Citilink’s leadership team, but that the board has been stable — and has long suspected the pension was underfunded. Metzinger joined in 2021, according to his LinkedIn.

He said the shortfall was about $50,000. Citilink plans to up its contribution for the year, but is working on long-term solutions.

But he described additional complications to plugging the hole: the transit agency is in the midst of union negotiations, and is facing a fiscal cliff.

Employees currently contribute about $1.7% of their pay, while the transit agency contributes about 10.6% of pay, according to slides. But the employee contribution level is set by the collective bargaining agreement.

“I’m not in a place that I should bring (negotiation discussions) into a public forum, but I can say at a high level, we are looking for concessions and a balance between wage payments and pension plan contributions,” Metzinger said. Citilink could also move from a defined benefit plan to a defined contribution plan, he added.

The transit agency, however, expects a $2.5 million deficit out of a $21 million budget. Metzinger said that if the Fort Wayne City Council approves Citilink’s budget request, it’ll be fully funded, but would have to cut services if not.

INPRS talks state plans, lawmakers contemplate changes

INPRS, meanwhile, reported being in good shape despite some financial hits.

Net assets are expected to hit $49.9 billion and could cross $50 billion for the first time, Executive Director Steve Russo said.

But, unfunded liabilities grew by $1.2 billion.

Russo pinned that on larger-than-expected state employee pay raises (a $1 billion impact), statutorily required pension benefit boosts (a $765 million impact) and lower-than-expected five-year investment returns (a $421 million impact). High contributions to two pension plans offset about $240 million, according to slides.

Russo said employer contribution rates would remain stable for two funds with financial cushions: a general public employee plan and one for excise, gambling and conservation officers. But public employers should expect rate hikes in plans for teachers, police and firefighters.

INPRS Chief Actuary Andy Blough also examined possible tweaks to the long-term pension bonus plan approved last session.

The law currently has INPRS fund indexed 13th checks for those who retire before July 1, 2025, and 1% COLA’s for those who retire after.

“(House Enrolled Act) 1004 gives one way that we could assign some of our retirees” to the two options, Blough said. “But really, there’s limitless ways on how to do this. We could draw  that line in a lot of different ways.”

Blough said he and his agency had fielded numerous inquiries from stakeholders who wanted to know which option would work better for them.

“One idea that we’ve seen consistently is the idea that members maybe could choose” between the check and the COLA,” he said.

A key lawmaker seemed open to the idea but was cautious.

“I want to have some more discussion with them and see what — how does that work?” Rep. Jeff Thompson, who leads the House’s powerful budget-building committee, said. “… I wouldn’t say I’m close-minded, but I want to make sure we don’t go down a path that’s not wise.”

Still, Blough’s slides showed most members would benefit more from an annual 1% COLA over time, because it compounds. The 13th check would pay off for those already nearing retirement age.

That’s if lawmakers keep the 1% rate, however.

“I think we’ll look at the numbers and, obviously, is it going to be feasible? It may not be,” Thompson said. “… But the numbers … drive it.”

Indiana Capital Chronicle is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Indiana Capital Chronicle maintains editorial independence. Contact Editor Niki Kelly for questions: info@indianacapitalchronicle.com. Follow Indiana Capital Chronicle on Facebook and X.

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