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BD. OF TRUSTEES OF PUB. EMP. RETIRE v. PEARSON

No. 983 A 326.

459 N.E.2d 715 (1984)

BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT FUND OF INDIANA, Appellant, v. Linley E. PEARSON, As Attorney General of Indiana, Appellee.

Supreme Court of Indiana.

February 20, 1984.

Attorney(s) appearing for the Case

Linley E. Pearson, Atty. Gen., Michael Schaefer, Deputy Atty. Gen., Indianapolis, for appellant.

Jonathan L. Birge, Robert T. Grand, John P. Price, Indianapolis, for Amici Curiae Indiana State Teachers Ass'n, Indiana Retired Teachers Ass'n.

Linley E. Pearson, Atty. Gen., William E. Dailey, Deputy Atty. Gen., Indianapolis, for appellee.

DeBRULER, Justice.

This is an appeal from a judgment of the Wayne Circuit Court entered in an action brought by the Board of Trustees (Board) of the Indiana Public Employees' Retirement Fund (PERF). The action called for the court to construe the terms of the trust administered by the Board, and to declare whether the Board is precluded by Article XI, Section 12 of the Indiana Constitution from investing PERF money in equity securities or stocks of private corporations...

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