What Illinois Policy Institute’s pension plan means for teachers

The pension crisis has left teachers at risk of losing everything they’re counting on for retirement. Teachers deserve choice and control over their future. The Illinois Policy Institute supports freeing teachers from the bad choices of unpredictable Illinois politicians. Here’s our approach for treating everybody fairly: Pension benefits earned to date are paid. Going forward,...

The pension crisis has left teachers at risk of losing everything they’re counting on for retirement.

Teachers deserve choice and control over their future.

The Illinois Policy Institute supports freeing teachers from the bad choices of unpredictable Illinois politicians.

Here’s our approach for treating everybody fairly:

• Pension benefits earned to date are paid.
• Going forward, teachers control their own funds in a self-managed plan (similar to what is already offered to Illinois university workers).
• Every paycheck, teachers put 8 percent of their salary into a personal retirement account.
• Every paycheck, their employer makes a generous 7 percent match into teachers’ accounts.
• Teachers – not politicians – control the funds and how they’re invested.

The result?

• Teachers grow a solid retirement nest egg.
• Missed contributions and unfunded liabilities become a thing of the past.
• Politicians can no longer play games with teachers’ retirement security.
• Families in the community can afford it.
• Classroom funding isn’t constantly being squeezed.

Like how this sounds? Let us know so we can learn more about how to best fight for you and the retirement security you deserve.

The bottom line: Here at the Illinois Policy Institute, we believe in you. We believe you deserve better than broken promises, political tinkering that doesn’t offer you more security and deals that are cut for political reasons instead of what’s right.

Want to learn more? Contact us at 312.346.5700.