SPRINGFIELD, Ill. (WTVO) – For the first time in years, Illinois received some good news about state pensions.
A study from the PEW Charitable Trusts found that the state’s pension systems are “stable.” Across the country, those systems are in their best positions since the recession in 2008.
The teacher retirement system is one of several different funds Illinois pays into every year. System administrators said the news is something to be happy about, but they point out the problem is still very present.
“That is a big obstacle yet to overcome, but with this, we have definitely taken the first steps,” said Dave Urbanek of the Illinois Teacher Retirement System.
Experts credit a high return on investments for the improvement.