Illinois is currently responsible for the employer pension contribution for the Illinois Teachers’ Retirement System (TRS), while Chicago is responsible for the Chicago Teachers’ Pension Fund (CTPF).
As a result, the Illinois TRS contribution has been described by Illinois Speaker Madigan and others as a “Free Lunch” for suburban and downstate school districts during pension [...]
One of the reasons often cited for shifting the cost of teacher pensions to local school districts is to increase local accountability for end-of-career “pension spiking” (or as Rich Miller of Capitol Fax recently described it “forcing districts to be much more cautious in granting pay raises that lead to bigger pensions.”)
I agree with [...]
State Funding vs Property Values
The question I asked in my last post is Why are Chicago property taxes so low?
One reason is Illinois provides about three times as much funding to Chicago compared to suburban and downstate districts that have similar property values per student.
Chicago receives about $5,400 per pupil from [...]