2019 Summer - Topics & Report Newsletter
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TRS Names Consultant to Help Launch New Defined Contribution Plan
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SPRINGFIELD, IL – Teachers’ Retirement System has hired Cammack Retirement Group, of New York, New York, to serve as the System’s consultant to assist in the creation of a first-ever “defined contribution” retirement plan that TRS must make available to all 161,000 active members.
Byas, Hirshman and Strand Elected to TRS Board
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SPRINGFIELD – Marsha Byas of Harrisburg, Trustee Andrew Hirshman of Oak Park and Douglas Strand of East Moline have been elected by members of Teachers’ Retirement System to the retirement fund’s Board of Trustees, according to preliminary results of the 2019 Trustee election announced today.
If certified by the TRS Board of Trustees this spring, Ms. Byas, Mr. Strand and Trustee Hirshman will begin their four-year terms on July 15.
Trustees Call for Responsible Pension Funding
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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:
TRS Commits More Than $1.8 Billion To Investment Opportunities
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SPRINGFIELD, IL – Teachers’ Retirement System has committed more than $1.8 billion to various investment opportunities; all designed to advance the mission of TRS on behalf of its 417,000 members.
During a regularly scheduled meeting of the TRS Board of Trustees, the System’s investment staff reported the following actions:
Within the $16.9 billion Public Equity Portfolio:
TRS Members Boost Economy By $16.1 Billion Annually
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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.