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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.

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 , 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  board members and staff. .

Read the rest of the Sun Times report.

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nick simone May 01, 2012 at 03:37 PM
Sorry folks the gravy train is over. Teachers and especially ADMINISTRATORS, have to realize working 39 wks a year with the generous pension benefits are over. Who else retires at 57 yrs old with a lifetime pension? The taxpayers cannot afford to foot this expanding welfare state. Pro rate the 39 working weeks and come to a fair and accountable compensation. Also end the tenure. Make them accountable like everyone else. Vouchers!

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