Top Illinois Republicans are criticizing a move by the Teachers Retirement System to lower its expected rate of return on investment, because it will mean higher costs to the state.
House Republican Leader Tom Cross and Senate Minority Leader Christine Radogno say the change will force the state to pay more into the pension system for teachers.
At the same time, the GOP leaders also say the newly-revised estimate might not be low enough, and may still reflect an unrealistic view of future income for the TRS.
Cross and Radogno say it’s more evidence that Illinois needs comprehensive public pension reform, and criticize Democrats for their ongoing failure to pass a reform package.
