CONNECT WITH WMAY
Illinois Mortgage Man Illinois Mortgage Man
8:00am - 9:00am
Illinois Mortgage Man

Contact Me

My Blog

Infinite Menus, Copyright 2006, OpenCube Inc. All Rights Reserved.
Google
Custom Search
August 23, 2014, 8:24 am
970 WMAY News

Revised Teacher Pension Estimate Could Cost State $300 Million


A change in the estimated rate of return for the Teachers’ Retirement System could leave Illinois taxpayers on the hook for an additional $300 million, according to one estimate. 

 

Last week, TRS revised its estimate, predicting now that its investments will yield a return of eight percent, instead of the previous prediction of eight-and-a-half percent.  Under state law, a lower rate of return forces the state to make up the difference. 

 

State School News Service says that could mean an additional $300 million obligation… and will likely increase pressure on lawmakers to approve pension reform during the lame duck session in January.

News Video

On Air Video


Facebook Fans


@WMAYSpringfield
LinkedUpRadio Envisionwise Web Services