LETTER: ‘Illinois math’ has led to chronic underfunding of teacher pensions

POST BY:  Chicago Tribune “As required, Teachers’ Retirement System used Illinois math to calculate the state’s contribution for fiscal year 2018 and came up with $4.56B. Using actuarial math, TRS also calculated that the state’s “full funding” contribution should be $6.88B. This legal sleight-of-hand has been going on for 78 years — and counting. The…

Pension Mismanagement and the Role of Return on Investment

    Often, we hear about skyrocketing costs to taxpayers caused by inflated public salaries, benefits, and pensions.  Let’s face it, if our legislators didn’t target teachers and other public employees for the Illinois Debt Crisis, they would have to take a scrutinizing look in the mirror.  Teachers make great scapegoats, but how about we consider the…