Pension Crisis

IL Teachers' Pensions Bleed Red Ink

Big promises, little funding

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SPRINGFIELD – Illinois' teacher pension system could go broke if the state does not figure out a way to fully fund the system soon, the leader of the retirement system and others have warned again.

Illinois' Teachers' Retirement System is seeking $3.4 billion from the state for its portion of the pension costs for fiscal year 2014. That's about $500 million more than the system sought from the state for the previous fiscal year.