Illinois Teachers Warned About Poor State of Pension Fund

It's spending more money than it's taking in

The head of Illinois' largest public pension fund is once again warning teachers their pensions could soon disappear.

Dick Ingram, executive director of the Illinois Teachers' Retirement System, says the retirement system for 390,000 public school teachers in Illinois is spending more money than it's taking in.

"Without changes to the pension code to ensure sustained and adequate funding, TRS faces the very real possibility that in a few decades the System will not have enough money to pay benefits to retirees," Ingram wrote in a news release. "We cannot guarantee that TRS will have enough money to pay the pensions promised to every member in the System."

Comments

[Sevo]

"That unfunded liability actually rose $3 billion over the past year, despite TRS seeing a 12.8 percent return on investments."

They got ~13% and they can't balance the books on THAT?!

[alexfondaman]

Curious! How come the system doesn't work well for so long and continues to fall apart, while all the victims get are warnings? Ok, let's talk about the system then. It requires months to implement the necessary corrections and decades to see the results of these corrections when it comes to pensions. Presumably, one generation of the retirees will have to become the victims of the transitions period, the basis for which is not even elaborated yet. Considering the fact that the retirees already have little options for additional funding: probably, credit unions (if they have history), charity (again, not for everyone), support from the families, freelancing opportunities and, of course, payday loans with no employment verification. These options don't seen enough to uphold one deceived pensioner who unluckily became the victim of the gaps in pension fund. If you want to find out more about financial options for the retirees, please, visit http://loansmob.com/.

[loansmob]

Pension funds act as source of security for those who have limited resources and incomes. However, the state of some pension funds across the board seriously raises some questions about their viability. If these funds cannot guarantee a safe investment, then maybe its time to look elsewhere. There are many alternatives available and more information of the same can be found on http://loansmob.com/ . After going through it you can definitely choose some better investment avenues