Democrats in the Illinois legislature should address the teacher pension's unfunded liability. But they won't.

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The Democrats in the Illinois House hold the largest majority in the state’s history.

JB Pritzker, a Democrat, was just elected to a second term with 55% of the vote.

The Illinois Senate has a Democratic supermajority too.

As an aside, when friends shake their heads at how well Georgia’s Herschel Walker did against the winner, Raphael Warnock, I remind them that the Trump supported MAGA, Darren Bailey, received nearly 44% of the vote in blue-state Illinois. Walker received 48% in Georgia.

It’s a reminder that when we get south of Chicago and Illinois’ I-80 there’s work to do.

As far as the pension debt is concerned, this Democratic supermajority is an opportunity to begin to pay off the debt and pay what’s owed to the teachers and other public employees of the state.

So far it doesn’t look good.

The total unfunded liability of TRS at the end of FY 2022 increased to $80.6 billion.

For 2024 the state is only offering a 2.5% increase to the retirement fund over the current fiscal year.

As a current teacher retiree I have every expectation that my monthly retirement benefit can be paid.

In any given year, TRS only is obligated to pay out the amount of money owed annually to eligible retired members and other beneficiaries.

For fiscal year 2022 TRS paid benefits totaled $7.6 billion. TRS was more than able to pay all benefits for the year on time and in full.

Since it is likely to continue to be true for most of the state’s Tier 1 teachers, there is an incentive for the legislature to do nothing.

In fact, Republicans and some Democrats argue to reduce benefits even more than they have already for Tier 2 teachers.

That is so short-sighted and stupid.

Tier 2 teachers are currently the only ones paying down the debt and their retirement benefit will be so pathetically small that it will likely fail to meet the requirement of the law.

Law suits are in the making.

The Democratic supermajority could begin to address the issue now.

They probably won’t.