Nearly 38 percent of Illinois Teachers Retirement System assets are in so-called alternative investments.

While sick leave is necessary for working teachers, letting unpaid sick leave accumulate for the purpose of boosting pensions is an expensive perk that taxpayers cannot afford.

Another credit downgrade shows borrowing, taxes and bailouts can’t fix CPS’ financial crisis, but real structural reforms are needed.

The Illinois Teachers’ Retirement System’s actuarial changes will drive up taxpayer contributions by $421 million in 2017. These latest changes prove Illinois’ pension math doesn’t work.

The Illinois Teachers’ Retirement System’s adoption of more realistic investment return assumptions would cause the system’s unfunded liabilities to grow by about $6 billion above their current $62 billion level.