The trouble facing the Indiana State Teachers Association insurance fund requires not just a quick fix but a careful analysis to make sure it doesn't happen again.

A review by the Indiana Department of Insurance found the ISTA's insurance fund had $67 million more in potential liabilities than assets. That's a dangerous position that needs a quick solution.

The ISTA provides long-term disability insurance to 90 of the state's school districts and health insurance to 30 districts.

ISTA Executive Director Warren Williams has resigned in the wake of this news. The National Education Association temporarily took control of its Indiana affiliate and appointed an interim executive director.

The NEA's recent takeover of the state's largest teachers union is a sign of just how troubling this situation is.

The Indianapolis Star reported the ISTA trust had an excessive number of trades in high-risk investments. Some of the trust fund's investments had "disturbingly low liquidity," the agency said.

The Associated Press reported the state referred the trust issue to regulators after finding several red flags, including a fee increase when the fund wasn't performing well.

State and federal investigators are looking at how fund managers handled the trust.

This and other questions need to be answered. The magnitude of this problem cannot be ignored.

The trouble with the insurance fund at the ISTA requires regulators to unravel carefully the threads and see what went wrong so it doesn't happen again.