Indiana Retirement System Distributes $60 Million

The Indiana Public Retirement System has disbursed nearly $60 million in 13th checks to over 160,000 retired public employees, providing an average payment of approximately $370 to supplement their fixed retirement benefits amid rising inflation. The funds were allocated from reserve accounts and distributed in two phases, with nearly 100,000 members of the Public Employees’ Retirement Fund receiving about $34 million, and the state’s two teachers’ retirement funds receiving around $25 million. The 13th checks, which ranged from $150 to $450 based on years of service, have been particularly beneficial for retirees relying on smaller monthly benefits. Legislators approved these checks in the last session, highlighting their importance for low-income retirees who reported using the funds for essential expenses and holiday gifts. Jessica Love from the Retired Indiana Public Employees Association emphasized the positive impact of these payments during a challenging economic time, while Rep. Bob Cherry voiced strong support for the initiative.