Teacher Retirement System of Texas

What you need to know about Illinois’ latest pension bill

By Benjamin VanMetre
12/03/2013
The 401(k) option is a fake: The bill says that some people would be allowed to participate in a 401(k)-style plan. But participation in the 401(k) option is limited to 5 percent of Tier 1 members (which includes members who were hired before 2011). Once 5 percent of these members are in the plan, it...

TAGS: pensions, Senate Bill 1

Broken: A guide to Illinois’ pension crisis

By illinoispolicy
12/02/2013
REPORTS Pension Solutions: reforming retirement age More than 50% of Illinois government pensioners retired at age 59 or younger. Read more… Pension Solutions: cost-of-living adjustments are supersizing state pensions More than 8,000 Illinois government retirees receive more than $100,000 in annual pension benefits. Read more… Illinois’ pension system lacks transparency Actuarial data need to be...

Pension solutions: reforming retirement age

By Benjamin VanMetre, John Klingner
11/26/2013
THE PROBLEM Illinois’ $100 billion pension crisis is the worst in the nation. The Illinois General Assembly’s failed attempts to solve the pension crisis in the past have only perpetuated Illinois’ problem. Politicians have done nothing more than tinker at the margins of reform to avoid making tough decisions. The reality is minor changes won’t...

Pension solutions: Cost-of-living adjustments are supersizing state pensions

By John Klingner
11/26/2013
THE PROBLEM Illinois’ five state-run pension funds are more than $100 billion in debt, according to official state numbers. Without major reforms, the funds are headed toward insolvency – and that means retirees may see their pensions cut and younger workers may not have a pension at all. One of the biggest forces behind this...

School district salaries left out of Illinois school report cards

By Brian Costin
11/04/2013
The Illinois General Assembly may consider much needed pension reform during the second week of fall veto session, which lasts Nov. 5 until Nov. 7. But they will have to do so without the latest teacher and administrator salary information affecting the state’s largest pension system, the Teachers’ Retirement System, or TRS. Last week the...

TAGS: Illinois State School Report Cards, ISBE: Illinois State Board of Education, TRS: Teachers’ Retirement System

Pensions: contributions out of sync with payouts

By Ted Dabrowski
10/31/2013
Members of Illinois’ state-run pension systems claim they’ve paid their fair share into the pension funds. To be sure, these workers have paid in what’s been required legally under mutually agreed upon contracts. But the benefits politicians and union bosses have negotiated for retirees are pushing the state’s pension systems to the brink of insolvency....

TAGS: pensions, TRS: Teachers’ Retirement System

Illinois’ pension crisis keeps getting worse

By Ted Dabrowski
10/29/2013
Even if Illinois pension funds see investment returns that exceed expectations, that still won’t be enough to plug the largest fund’s hole. The Teachers’ Retirement System reported its pension underfunding grew to $55.73 billion as of June 30, 2013 — an increase of more than $3.5 billion since the end of the previous fiscal year...

TAGS: 401(k), COGFA: Commission on Government Forecasting and Accountability, Dick Ingram, SURS: State Universities Retirement System, TRS: Teachers’ Retirement System

State pension contributions: Taxpayers bear the brunt of increasing pension costs

By John Klingner
09/25/2013
The problem A common refrain sounded by public sector unions is that government workers have consistently “paid their share” into Illinois’ pension systems and the state has not. However, the facts tell a different story. While government worker contributions to Illinois’ five pension systems have increased by 75 percent since 1998, taxpayer contributions have increased...

TAGS: GARS: General Assembly Retirement System, JRS: Judges’ Retirement System, SERS: State Employee Retirement System, SURS: State Universities Retirement System, TRS: Teachers’ Retirement System

Oops — another ‘error’ in Illinois’ pension mess

08/29/2013
If Illinoisans needed any more proof that the state’s defined benefit pension systems are unmanageable and dysfunctional, they got it on Aug. 26. Dick Ingram, head of the Teachers’ Retirement System, or TRS, informed Illinois’ pension conference committee that TRS’s actuaries made a mistake in calculating the expected savings of House Speaker Mike Madigan’s proposed pension...

Average salary for Illinois downstate and suburban teachers: $70,000

By Ted Dabrowski, John Klingner
06/17/2013
Public worker compensation is a major factor in the debate over pension reform. Teacher’s salaries are particularly important because the Teachers’ Retirement System, or TRS, is a major driver of the pension crisis. The total unfunded liability for TRS is $53.5 billion, more than half of the state’s total shortfall. TRS maintains more than 130,000 active...
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Fighting poverty with employment: Chicago block clubs

Leaders of these organizations on the South and West sides connect residents to jobs and engage youth to build safer neighborhoods.

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Diana Graham

Process for unionizing non-state workers raises red flags

By Paul Kersey
06/19/2014

CBS Chicago: Illinois’ highest-paid superintendent receives $400K per year to oversee 1,200 students

By Ted Dabrowski
05/02/2016