SPRINGFIELD – The Teachers’ Retirement System Board of Trustees has unanimously approved the following statement concerning state funding for the System as presented in the Illinois state budget proposal for fiscal year 2020:
SPRINGFIELD, IL – The salaries and retirement benefits of working and retired public school teachers create a $16.1 billion economic stimulus annually in Illinois, according to a study by Teachers’ Retirement System measuring the impact of TRS members across the state.
The study, completed in November of 2018, revealed that salaries paid to active TRS members teaching in schools and pensions and benefits paid to retired members also support 110,600 jobs in every part of Illinois with a combined payroll of $4.7 billion.
