News

Illinois’ Pension Questions Continue

Illinois’ Pension Questions Continue

The next pension bind for state lawmakers involves Chicago teachers, and it won’t involve state money.

Chicago teachers were not included in last year’s pension restructuring law, which is now in court, and Chicago schools will have to boost pension contributions by $400 million, if nothing changes.

Illinois Senate President John Cullerton (D-Chicago) says the state is not living up to its responsibility to fund Chicago teacher pensions, but there’s no chance that this problem will be solved with state money. “I don’t think there’ll be money coming from Springfield, as fair as it would be that the state start to pay, but we can’t pass that when it’s just Chicago that would support that,” he said.

He said a 1995 law obligates the state to pay into the Chicago teachers’ pension fund 30 percent of what the state contributes to the Teachers Retirement System, which is for Downstate and suburban teachers. In fact, the state contributes less than one-third of 1 percent.

Cullerton is urging Chicago teachers to look at the pension law that affects teachers Downstate and in the suburbs and agree to provisions that would limit the growth of benefits.

 

Recent Headlines

in Music

WATCH: Kelly Clarkson duets with Jimmy Fallon

20-overlay

After saying that singers "avoid" duets with her, the "American Idol" star finally found a partner.

in Music

Carrie Underwood is a mom

carrieunderwoodmikefisher

The singer welcomed her first child with husband Mike Fisher.

in Music

Miranda Lambert, touring partners get matching tattoos

mirandalambert

The country star gets a permanent reminder of her time on the road.

in Music

Lars Ulrich celebrates final days as a bachelor

ulrichmiller

The Metallica rocker celebrated his upcoming wedding with Bradley Cooper, Sir Ian McKellen, and his bandmates.

in Music

Garbage to celebrate 20th anniversary with new shows

shirleymanson

Shirley Manson and her bandmates released their self-titled debut in 1995.