Illinois pension fund liability jumps 19%
Getty Images
Illinois adjusted net pension liability will total $317 billion for the current year, according to Moody s Investors Service.
The total reflects the June 30 funding position of the state s five pension plans connected with the state s June 2021 financial reporting, a report issued Wednesday by Moody s said.
The revised liability total is based on the aggregate adjusted net pension liability of Illinois five state pension funds as of June 30, which represented a 19% increase from the prior year. The increase was driven by the fall of the FTSE Pension Liability index to 2.7% as of June 30 from 3.51% a year earlier.
Click here to listen to the story:
They both laughed and Garcia countered with the sort of question everyone approaching graduation wants answered: “Can you actually help me pay for school?”
A few minutes later, she realized he wasn’t joking. He thought Garcia would be a great candidate for their PLEDGE program with Northern Illinois University.
Now Garcia is graduating college and back in the Rochelle School District, where she grew up. She’s got a degree in elementary education with an English as a Second Language and Bilingual endorsement. And Rochelle picked up a large amount of her college tuition tab in exchange for teaching five years back in her hometown.
By Jon Peterson2020-12-16T16:19:00+00:00
Teachers’ Retirement System of the State of Illinois is committing $300m (€247m) to the Starwood Distressed Opportunity Fund XII, as the real estate fund nears its capital-raising target of between $7.5bn and $8.5bn.
The pension fund told IPE Real Assets that it had backed the opportunistic real estate fund manager during a period of uncertainty after proving a positive track record over 18 years.
Illinois Teachers said it had “enjoyed a strong and successful relationship with Starwood dating back to 2002 and the trustees and investment staff believe this commitment to Starwood Distressed Opportunity Fund XII will continue that positive track record and benefit our members in the future”.