Director of Teachers’ Retirement System: Illinois is in a ‘Fiscal Mess’
Staff who oversees Illinois teacher pensions spoke to about 1,000 teachers at Carl Sandburg High School Thursday night about how the state might change retirements, Sun Times Media reports.
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Dick Ingram, who serves as executive director for Teachers’ Retirement Systems, didn’t have much good news for teachers last week.
He spoke Thursday to about 1,000 teachers at Carl Sandburg High School regarding Gov. Pat Quinn’s plans to rework the ailing and woefully underfunded state pensions, according to a Sun Times Media report by Steve Metsch.
“It’s pretty clear the state of Illinois in a real fiscal mess,” Ingram said.
Ingram further noted that TRS could be tapped out of money by 2030, according to the report.
Illinois now has underfunded pensions by $85 billion, of which $43.8 billion is TRS.
One of the most talked about scenarios involves the state putting its agreed upon contribution to TRS back on local school districts, which administrators and board members believe will inevitably end up on the backs of taxpayers.
Similar talks about pension reform ramifications have been held among Consolidated School District 146 board members and staff. Orland School District 135 also has expressed opposition to such a measure.
Read the rest of the Sun Times report.
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Brandon M
7:52 pm on Thursday, May 3, 2012
lets make more teacher cuts so we can give the administrator's another raise.come on people who deserves 160,000 a year to be a school adminstartor...and better yet lets guarantee them 75% of that in a pension. http://www.familytaxpayers.org/salary.php OH i know you contribute a whopping 10% off your check for your pension..that the other administrators padded your yearly salary to cover the cost. 10% to get back 75% seems pretty good to me.