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The Illinois General Assembly created the Teachers’ Retirement System of the State of Illinois (TRS or the System) in 1939 for the purpose of providing retirement annuities, and disability and survivor benefits for educators employed in public schools outside the city of Chicago.
The Illinois pension crisis refers to the rising gap between the pension benefits owed to eligible state employees and the amount of funding set aside by the state to make these future pension payments. As of 2020, the size of Illinois' pension obligation is $237B, but the state's pension funds have only $96B available for payouts to retirees.
Illinois public pension debt grows Illinois’ pension situation is getting worse. The Commission on Government Forecasting and Accountability reports the total unfunded liability is 46% with a ...
Teacher Retirement System of Texas: $146,326 $146,326 79.7% 8.0% 7 New York State Teachers: $115,637 $115,637 94.2% 7.5% 8 State of Wisconsin Investment Board: $109,960 $105,155 N/A N/A 9 North Carolina Retirement: $106,946 $96,094 88.3% 7.3% 10 Washington State Investment Board: $104,260 $86,615 85.5% 7.7% 11 Ohio Public Employees Retirement ...
(The Center Square) – Illinois unfunded pension liability is growing. The Illinois Commission on Government Forecasting and Accountability reports the latest unfunded liability is $143.7 billion.
(The Center Square) – Illinois’ pension debt compared to personal income is the second worst in the nation. Fitch Ratings reviewed pension funds for public employee retirees from every state ...
The Illinois state government has numerous departments, ... State Retirement Systems of Illinois; Teachers' Retirement System of the State of Illinois; References
Behind only Connecticut, Fitch pegs Illinois’ unfunded pension liability and other post employment benefits at $206.5 billion, taking up 22.8% of the state’s personal income. Tool company to ...