Teacher's Retirement System paying pensions, regardless of state shortfall

CAT Tracks Editor's Note:

Gale Dawson (if it is the same one) taught/coached in Cairo.

But...

...it was Kelly Holland who hit the nail on the head:

"When we lack that funding, that's money that's not invested in TRS, that's a return we're not receiving, that's money that doesn't go back into our system," she said.

Back in the day, when interest rates were high, Illinois withheld mandatory payments into TRS, choosing to spend that money on other projects. The interest on those monies will be lost forever. If/When the state ever finally makes its full contribution to TRS, it will not replace the interest that was lost...

...and the interest on that interest, compounded annually.

Aye, there's the rub.

Bears repeating...

...IL teachers/pensioners are not the cause of the Illinois pension mess.

So...

...when the Illinois General Assembly and Governor get around to fixing "the problem", assigning blame for "the problem", they need to take a long look into the mirror...

...and take responsibility for their actions, their predecessor's actions, and find a solution that keeps the promise that they made to the men and women who put their faith in the system and upheld their end of the bargain...