Barring reforms, the Teachers’ Retirement System could eventually run out of money and be unable to pay promised benefits to retirees, all while making it more expensive for teachers to live in Illinois.
Illinois worst-in-the-nation public pension debt grew 19% year over year. It will continue hurting the state economy and job growth, driving more people out of Illinois, unless there are reforms.
Illinois Gov. J.B. Pritzker plans another year of flat education spending. The reality is the cash reaching classrooms is dwindling as pensions and administration eat more.
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.
From the lottery, to the tollway, to two “temporary” income tax hikes, Illinois politicians have a history of broken promises about how they tax and spend residents’ money.
A provision included in Illinois’ previous budget aimed to protect state taxpayers from end-of-career salary spiking in local school districts. The budget proposal en route to Gov. J.B. Pritzker’s desk would repeal that protection.
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.