(INDIANA STATEHOUSE) - A bill to start the process of merging the state's two largest pension funds is headed to Governor Mitch Daniels' desk.
The house and senate voted to authorize the consolidation of the Indiana Public Employees Retirement Fund (PERF) with the Indiana Teachers Retirement Fund (TRF).
The PERF system is currently responsible for paying benefits to 220,000 police, firefighters and government employees.
The Indiana Teachers Retirement Fund covers 160,000 Hoosier educators.
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