Illinois’ Latest Pension Plan Likely Delayed Til 2019

It’s going to be nearly two years before Illinois taxpayers may save money on teachers pensions in the state. Teachers Retirement System chief Dick Ingram last week said it will be July of 2019, at the earliest, before a new Tier Three plan is in place. Tier Three is the latest pension tweak that lawmakers hope will save money. But Ingram said the law that creates the new pension classification only requires that it be created ‘as soon as possible.’ Ingram said that means not till July of 2019, if not later than that.

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