Daniel's Pension Fund

By Nina Settappa

October 5, 2012 Updated Oct 5, 2012 at 8:45 AM EDT

INDIANAPOLIS, Ind. (Indiana’s NewsCenter) - Indiana's pension funds will receive a large sum of cash thanks to cash reserves in the state.

Governor Daniels announced yesterday in Indianapolis where a check for 360 million dollars was presented to five pension funds. Checks from Indiana's financial surplus will range from 14 to 206 million. The state closed its latest budget with roughly 2.2 billion in cash reserves.

The state's automatic taxpayer refund mandates that 720 million of that would be split between returns to taxpayers and state pension funds.

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