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Thursday, November 21, 2024

Indiana's public pensions receive $2.9 million in contributions for 2022

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Lieutenant Governor Suzanne Crouch | Official website of the Indiana State Government

Lieutenant Governor Suzanne Crouch | Official website of the Indiana State Government

In 2022, Indiana had received $2.9 million in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau's Annual Survey of Public Pensions.

Of that amount, $2.7 million was in state pension funds, and the remaining $164,812 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

It's worth noting that residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are not subject to state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Indiana reported data from 255 pension systems, including 10 state-level pension funds and 245 local-level systems. The total number of pension system members was 489,524 (421,399 at the state level and 68,125 at the local level).

Contributions to Indiana's public pension funds
LocalStateLocal & State
Employee contributions$71,880$72,793$144,672
Government contributions$92,933$2,629,296$2,722,229
Total Contributions$164,812$2,702,088$2,866,901
Source: US Census Bureau

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