Teachers Union Calls for Pension Director to Resign
The head of the pension system for suburban and downstate teachers says Illinois has to consider reducing cost-of living adjustments for retirees. That has one of the state's two big teachers unions calling for his resignation.
Richard Ingram said he understands why some teachers are upset at his message, but as head of the Teachers Retirement System, he said teachers' pensions are already in jeopardy.
"It's not a this year or a next year or a next decade thing, but people have to understand that we have an equal obligation to our 25-year-old members as we do to our 85-year-old members," Ingram said.
Ingram said Illinois must take a hard look at the automatic cost-of-living adjustments teachers get when they retire.
However, Dan Montgomery, who is the president of the Illinois Federation of Teachers, said Ingram is overstepping his bounds.
"When he comes forward and says the only way to do it is this, he is leaving the realm of being the executive director of TRS and entering -- I don't know -- something maybe the legislature would advocate," Montgomery said.
Montgomery said Ingram has lost the confidence of teachers.
Meanwhile, Ingram said he does not plan to resign.