Schools Say They Can’t Absorb Pension Costs

Currently, Chicago Public Schools is the only district that pays its share toward teacher pensions without state help. All other suburban and downstate districts rely on state funding and contributions from teachers themselves to fund teacher pensions. Additionally tax payers in Chicago also contribute to statewide pension funding for teachers so they pay twice.

Schools Say They Can’t Absorb Pension Costs – Chicago News Cooperative
www.chicagonewscoop.org

Even though one-third of Illinois’ schools have been placed on financial watch lists by the state Board of Education, leading Democrats are moving closer toward a plan that would shift teacher retirement costs from the state to schools.