Teachers' Retirement System

[Alpha Mare]

The 'KC Schools' thread reminded me about this. 

While the California teachers' unions are effectively destroying one school system after another, an alert commenter pointed me to some even more shocking news from Illinois. Their pension system for educators is -- if you can believe it -- even farther off the reservation.

Using actuarial calculations from the Teachers' Retirement System (TRS), Champion News reports that the total estimated pension liability for the top 100 retirees will equal...


$887,925,790.00

You read this right. The top 100 retirees, by themselves, will cost Illinois taxpayers nearly one billion dollars.

http://directorblue.blogspot.com/2010/02/did-you-think-california-teachers.html

http://www.championnews.net/article.php?sid=1023

 

[NHSparky]

I saw not ONE person on there with a salary of under $200K.  And these asshole have the nerve to claim they're UNDERpaid?

[thundley4]

If I'm not mistaken, those are defined benefit plans.  The left wants to complain about corporate retirement plans, but these cost tax payers much more.

I saw not ONE person on there with a salary of under $200K.  And these asshole have the nerve to claim they're UNDERpaid?

Granted, most are probably administrators, albeit very overpaid administrators.

[DumbAss Tanker]

Granted, most are probably administrators, albeit very overpaid administrators.

That's what I'm thinking, those seem more like Superintendant-level salaries, the lowest is about double what I'd expect for even very senior actual teachers.