Teacher Pension Manager: State Is Shorting Pension Payments Again
The manager of the underfunded pension account for teachers across Illinois is warning that the state government is once again shorting pension payments.
The head of the Teachers Retirement System says there was a mandate in the new state budget that TRS lower its expectations of how much money it will get from the state. He calls it kicking the can.
But lawmakers and national pension experts say TRS created a hole last year when it reduced its expected investment returns.