Byrne: Keeping Indiana fiscally responsible

By State Sen. Gary Byrne (R-Byrneville)

At a time when affordability is top of mind for Hoosiers, it is important that your state government is living within its means and managing your hard-earned tax dollars efficiently and effectively – just like you and your families must do.

We cut the state income tax and property taxes, kept state spending in check, uncovered and eliminated waste, fraud and abuse and paid down debt. We’ve taken many steps to help you meet your bottom line and offer much-needed stability during these difficult economic times.

That’s why I’m proud to announce that Indiana is set to finish paying down the unfunded liability we owe to the Pre-1996 Teacher’s Retirement Fund nearly a decade early. Thanks to our sound fiscal management, we have been able to direct an additional $4.3 billion toward the pension fund since 2021 and will make the final payment in fiscal year 2028, nearly 10 years ahead of schedule.

This means Indiana teachers can count on their pensions being fully funded and they can have peace of mind knowing they'll receive the pension they worked so hard to earn. The men and women who dedicate their careers to educating Hoosier students deserve to know how much their contributions to our state are valued, and this is one important way we can demonstrate that.

Just like my Senate Republican colleagues, I am a man of my word. We made a commitment to our teachers that we would meet this obligation, and we kept it. This is in stark contrast to our neighboring states like Kentucky, which cut teacher pensions by millions of dollars, or Illinois, which has the seventh-worst funded teacher pension system in the country.

It is also important to note that by paying off this unfunded liability early, more funds will be available to support critical priorities and give us greater flexibility when crafting the state’s next budget.

I am committed to providing my constituents with state government that lives within its means and makes every one of your hard-earned tax dollars stretch as far as we can make it go. Paying down billions in an unfunded liability early is one more important way we can accomplish that goal.

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State Sen. Gary Byrne (R-Byrneville) represents Senate District 47,
which includes Harrison and Washington counties, and most of Floyd County.
Click here to download a high-resolution photo.

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