The shooting happened early Thursday on the northwest side, just eight hours and three miles removed from another fatal police-involved shooting.

The Indianapolis Star is re-posting game stories from the 10-year anniversary of Butler's run to the 2010 NCAA championship game.

Rotnei Clarke and his wife packed for her and their three small children in less than three hours.

Reiner directed the movie "LBJ," which was being screened at the film festival.

Mila Kunis has found a way to let Vice President Mike Pence know she's not fond of him. Every. Single. Month.

NUVO, others buy tickets for hundreds of Indianapolis youth to see Marvel film with a black superhero

Actor Brendan Fraser, who was born in Indianapolis, talks to GQ magazine about being groped in 2003.

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Republican state Sen. Victoria Spartz had the biggest personal loan, giving her campaign $750,000 while raising under $10,000.

While Indiana continues to see a rise in coronavirus cases, a Fishers church will resume in-person services.

An annoucement on the Fishers trampoline park's website states the park's permanent closure.

Some stores opened today, some will open soon at Hamilton Town Center. Each store has its safety precautions ready, shoppers work to stay safe, too.

"We're trying to walk the delicate balance of how to reopen and help peoples' livelihoods," Mayor Jim Brainard says.

A man who allegedly battered an off-duty Noblesville police officer and stole her department vehicle Tuesday died during an ensuing pursuit.

More people have died in the primarily Carmel ZIP code of 46032 than elsewhere in the Hamilton County Health Department's jurisdiction.

U.S. Vice-President Mike Pence's press secretary has the coronavirus, the White House said Friday, making her the second person who works at the White House complex known to test positive for the virus this week.

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Kyle Larson's derogatory comments, which appeared meant for a private channel, went public Sunday night, and he's been suspended by his team and the series.

Broadcast on NBC Sports for the second consecutive week, IndyCar's iRacing audience grew 25% from the previous week.

The $8,000 square foot, $8 million home sits atop a hill and features windows from floor to ceiling.

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The president of Texas Motor Speedway is still hoping to run the Genesys 600 with fans in June. But if they're turned away, he'll need NASCAR's help.

He expected to be incredibly busy immediately after the birth of his son Gordon, but Charlie Kimball has thoroughly enjoyed more family time.

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IndyCar is scheduled to open its 2020 season on June 6, but one month from that date, the Texas Motor Speedway president can't guarantee a race.

IndyCar will host its season-opener at Texas Motor Speedway on June 6 as planned, but without fans and in a one-day show.

Kevin Jones performs his song, "I Can See The Stars" before the Tom Odell show at the Moroccan Lounge in Los Angeles.

Exercise your super power by voting today.

School bucks the trend of a lack of money and student interest that has forced many high school newspapers to fold.

Shortridge High School's The Daily Echo newspaper staff talks about reviving the oldest school newspaper in the country.

The advance of a cruel payday lending bill is the latest reminder that something is broken at the Statehouse.

Look inside this 1950s modern home at 6474 Meridian St.

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Being ranked No. 1 in the state is old hat at certain places — Warren Central, Carmel and Ben Davis, to name a few. But not Avon.

Belatedly, I've got round to looking at the Treasury's recent decision to change how it calculates the necessary contributions that have to be made to cover the future costs of unfunded public service pensions.

My interest was sparked by a letter sent to the chancellor by 23 pension experts, organised by the consultant John Ralfe. They argue that the Treasury has made a mistake in its choice of a new so-called discount rate.

If you think this is tedious abstruse stuff that has no relevance to you, think again. The aggregate public-sector net liability for pensions is so huge - perhaps £1 trillion - that it matters to all of us as taxpayers, especially those likely to be paying tax in 10 and 20 years time, that the government has a reliable and accurate valuation of pension promises.

Pensions represent, to coin the phrase, a massive off-balance-sheet debt. And as we've all learned to our cost from the financial crisis of 2007-8, it is a bad idea to carry on blithely pretending off-balance-sheet liabilities don't exist.

So what is this blessed discount rate? Well in the private sector it can be seen as the number used to translate into today's money a commitment to pay £650 a week pension (for example) for 30 years or so to a retired employee (till he or she dies), so that we can see whether there's enough money in the pension fund to pay that employee (and all the other employees) during his or her long retirement.

The point of the discount rate is to assess whether there's enough money in the pension fund - or whether it needs to be topped up.

Which is all very well, except that for most of the public sector, there are no funds or pots of money to pay for future pensions. Most of the pension promises are unfunded, payable out of employees' current contributions and out of general taxation.

That said, since public sector workers are increasingly expected to make a contribution to the costs of their own pensions, it would presumably be sensible for that contribution to be set at a level that is rationally related to the value of promised pensions.

So what is the best way of measuring the cost today of new pension promises?

Well the government has decided to "discount" those promises by the rate at which the economy is expected to grow.

Now there is some logic to that: the growth rate of the economy should determine the growth rate of tax revenues; and the growth rate of tax revenues will have a direct bearing on whether future pension promises will bankrupt us all or not.

But here's the thing. Any private sector chief executive might well be sent to prison if he or she decided to use the equivalent discount rate for a company, which would be the expected growth rate of that company's revenues or profits.

The reason is that although it might be possible to remove subjectivity (or in a worst case, manipulation) from any long-term forecast of the growth of GDP or of a company's turnover, it is not possible to remove considerable uncertainty.

To illustrate, the Treasury has chosen a GDP growth rate of 3% per annum as the discount rate for public sector pensions, which is considerably above the rate at which the UK economy has grown for years or indeed may grow for many years.

If we were growing at 3%, we would in practice be less worried about the off-balance-sheet liabilities of public-sector pensions, because the on-balance-sheet debt of the government would not be growing at an unsustainably fast rate.

To put it another way, in choosing its view of the long term growth rate of GDP as the discount rate, the Treasury is arguably understating the burden of future pensions to a considerable extent.

So what discount rate do companies use?

Well they are obliged to discount the liabilities at the yield or interest rate on AA rated corporate bonds.

Which may not be ideal, but has some advantages: there is a market price for AA corporate bonds, so the yield or discount rate is difficult to manipulate by unscrupulous employers; and it tells the company how much money would need to be in the pension pot, on the basis that all the money were invested in relatively safe investments (AA corporate bonds).

Now Ralfe and his chums believe that the discount rate for public sector promises should be the yield on long-term index linked gilts (gilts are bonds or debts of the British government) - partly because this too has a difficult-to-manipulate market price and because an index-linked government bond is a very similar liability to a public sector pension promise (both are protected against inflation, both are in effect debts of the government).

They point out that gilt interest and principal payments are paid out of future tax revenues, just as future pensions are. So if the value today of future pensions should be discounted at the GDP rate, that's how index linked gilts should be value on the government's balance sheet - which would be bonkers.

Anyway, if you've read this far (and many congratulations to you if you have), you may take the view that it would not be rational to impose a tougher discount rate on the government than on private-sector companies - which is what Ralfe et al seem to want, in that the yield on index linked gilts will always be lower than the yield on AA corporate bonds (because HMG, even with all its debts, is deemed to be more creditworthy than any British business).

But for a government and for a chancellor who have made it a badge of honour to bring transparency and prudence to public-sector finances, prospective GDP growth does look a slightly rum discount rate for valuing those enormous pension liabilities.

My blog is dead. Long live the new blog. Or to put it another way, my page - and those of other BBC bloggers - is having a makeover. So if you don't want to read on, and you simply want to read my latest post, click here.

The reason for the change is to bring together more of my output in one place. So on the new page, you'll find many of my TV and radio pieces, and (soon) my tweets.

If I go mad and decide to do other social media, that'll be there too.

Fingers crossed that you like what you see. I can't hope that all of you will love all the changes. And in particular, I am sure some of you will be frustrated that (for cost reasons) there is now a 400 character limit on the comments you can leave.

Please don't let that put you off expressing yourselves. I can't tell you how much I value your opinions and the debate we have.

As for the posts I've written since Picks was launched in January 2007, the best place to find them is here. For future posts, the best URL for me is still bbc.co.uk/robertpeston

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