Illinois House GOP leader Tom Cross complains that teachers live too damn long.
Tom Cross is the IL House leader who is sponsoring the bill that would effectively destroy teacher pensions in the state.
Briefly, the present Teacher Retirement System is a defined benefit system. Each teacher pays almost 10% of their gross into the system. The state is also required to make a contribution. Over the past decades, the state has often missed its pension obligations. That is why the system is not fully funded. In fact, some estimate the state is over $100 billion in arrears.
Cross’ bill would create three tiers. If a teacher stays in the present TRS system, our contribution would increase to a third of our salary. Or we could join a reduced benefit TRS, like the one already imposed on teachers hired after January 1st. That tier would require a teacher to work 44 years before they could collect anything, and that