How Much Are State Pension Payments Worth to Illinois School Districts?
Release: June 23, 2017
Every school district in Illinois except for the Chicago Public Schools has its teacher pension payments made by the state as a consolidated payment to the Teachers Retirement System. Because of this, it is difficult to determine how much money these pension payments are worth to individual districts. CTBA has created per-district estimates for both normal cost (the payment that covers benefits being earned by current employees) and legacy cost (the debt service payment to make up for previous years' underfunding).