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Richard Ingram - Pension Crisis in Illinois

Dick Ingram discusses the organizational character and governance of Illinois's Teachers' Retirement System, and provides an overview of how TRS's pension fund has historically been funded. He describes the relationship between TRS and the state legislature, explains how and why the pension fund became seriously underfunded, and discusses recent attempts by the legislature to fix the pension shortfall problem, especially Senate Bill 1 passed in 2013, which the IL Supreme Court declared unconstitutional in 2015.