Dick Ingram
The board of the Illinois Teachers Retirement System, which serves more than 400,000 teachers outside of Chicago, voted to lower its expected rate of return on investments Friday in Springfield.
Seth Perlman/AssociatedPress

Illinois’ Pension Payment Expected To Increase By $400M

Illinois' contribution to the state's largest public-pension fund is expected to increase by more than $400 million next year after the board overseeing the account, trustees with the Teachers' Retirement System, lowered its expected rate of return on investments. The move could lead to higher taxes or massive cuts to education and social services.  Gov. Bruce Rauner says this could have a devestating impact on Illinois' current budget structure.

More articles →