Chrysler Deal Wallops Hoosier Pensions

Indiana pension funds to lose millions

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    NEWSLETTERS

    That cookie jar is soon to be empty.

    Three government-backed pension plans in Indiana are bracing for a multi-million dollar lose in the wake of the Chrysler bankruptcy deal.

    The plans -- which include one for retired police officers, on for retired teachers and one to build bridges and roads -- could lose up to $5 million under the deal, according to a report from Chicago Public Radio.

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    Two years ago, the plans spent $44 million to purchase $100 million worth of Chrysler debt. 

    "Chrysler bankruptcy soured the deal," WBEZ said.

    In the worst of it, the Indiana State Teachers Association's loss compounds problems with risky investments that may lead to the loss of disability benefits for its members.

    Listen to the audio report from WBEZ's Michael Puente.