Teachers Retirement System

Pensions
11:03 am
Wed June 25, 2014

Teacher Pension Fund Lowers Expected Investment Return; State's Obligation To Grow

Credit Brian Mackey/WUIS

  The Illinois Teachers' Retirement System says it expects a lower return on its pension investments in the next year. That means the state will have to cover more of the cost of teacher pensions.

TRS says it's still a good assumed rate of investment return at 7.5 percent. That falls in line with similar pension systems nationwide. But it's not as profitable as 8-percent, which TRS had been using for the previous few years.

Dave Urbanek is with TRS. He says the unpredictable nature of the international economy spurred the decision to lower the rate.

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Education Desk
2:20 pm
Wed May 7, 2014

Legal Interpretation May Erase Pension Glitch

Credit uis.edu

The State Universities Retirement System now says a troublesome piece of last year's state pension-reform law may not cut retirees' pensions after all.  

William Mabe is the executive director of the retirement system. He tells The (Champaign) News-Gazette (http://bit.ly/QfeCu8 ) that the language in law that would cost retirees' a year of pension should be interpreted as if it didn't _ because it wasn't intended to.  
That's based on the interpretation the Teachers Retirement System has been using when it looks at the law. Now SURS plans to follow suit.  

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Pensions
6:00 am
Tue December 17, 2013

Preparing To Implement Pension Overhaul — And Not To

Credit Arthur Public Library via IMLS DCC (creative commons)

Illinois’ biggest and most indebted pension system is beginning to implement changes tied to the pension overhaul passed this month. But officials are also making plans in case the new law is struck down.

The Teachers Retirement System is by far the biggest of Illinois’ five pension systems, with well over 360,000 members. TRS is also the biggest factor in the pension funding problem, accounting for more than half of the combined $100 billion shortfall.

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Stuart Levine
2:56 pm
Mon December 9, 2013

Political Fix Theater: Apology Not Accepted

A playbill from "I Wish to Apologize to the People of Illinois," a show about consummate political insider turned e-cigarette salesman Stuart Levine, who was a key FBI informant in the "Operation Board Games" investigation."
Credit Amanda Vinicky

The curtains are closing on the Chicago play "I Wish to Apologize to the People of Illinois" -- a timely production, given that today, Dec. 9, marks five years since Rod Blagojevich's arrest. Two trials later, he was convicted on 18 counts of corruption. At Blagojevich's sentencing hearing, the former governor said he was sorry for his mistakes. But Blagojevich was not the one making apologies in this show. He's not even a character -- just someone who gets mentioned now and again.