Pension expert Richard Ennis analyzed public pension performance of 24 funds, finding the Teachers’ Retirement System of Illinois among the worst after underperforming for 10 years.
Former Hinsdale superintendent collecting $315k pension
The former leader of a wealthy school district is receiving a massive pension boosted by a pair of 20% raises given during her final two years. Illinois needs pension reform.
The 1%: Illinois’ pension millionaires
More than 129,000 Illinois public pensioners will see expected payouts of $1 million or more during retirement.
Illinois pensions 101: Paltry contributions yield million-dollar payouts
Across all five state retirement systems, typical career workers pay for about 5% of the cost of their pension benefits. They receive an average of $1.7 million to $3.6 million.
Senate President John Cullerton set to collect $2M pension
Due to a pension sweetener available only to veteran Illinois lawmakers, Cullerton’s annual pension will soon be more than he ever made from his Statehouse salary.
Illinois pension buyout program delivers just 3% of projected savings
A plan that allowed some pension enrollees to cash in early on their earned retirement benefits in exchange for curbing future benefits has so far generated only 3% of its expected savings.
Illinois Supreme Court: Union lobbyist can double pension for one day of teaching
Illinois’ high court ruled a former union employee who worked a single day in the classroom is eligible to receive a decade’s worth of teacher pension benefits.
Illinois teacher pension fund slams Pritzker’s borrow, delay plan
The Teachers’ Retirement System pension fund board opposed Illinois Gov. J.B. Pritzker’s plan to repeat past mistakes. Here’s why they are right to oppose it.
Illinois state and local governments spend most in nation on pensions
According to recent data, Illinois spends nearly double the national average on pensions, measured as a percentage of all state and local government spending.
More than 19,000 Illinois government retirees receive pensions over $100K
The average six-figure retiree contributed just over $160,000 toward their own pension over the course of their career.