Based on comments I receive from readers I believe that the public is often confused by the difference between the teacher unions - the NEA and the AFT - and state pension organizations and their boards of trustees.
"It has been a year since five executives were fired by the board, including executive director Richard Ingram. The board has offered up no explanation."
"Last March the AFT issued a report expressing concern about teacher pension investments in high risk private equity."
"As the Illinois legislature continues it annual practice of paying less than their actuarial obligation and the debt liability grows, TRS will likely turn to an even higher percentage in PE."
"For many of my retired colleagues this is not a concern so long as their monthly pension check shows up in their bank account."
The cumulative effects of these problems are enormous. It is similar to the causes of climate change. When several or all of these to varying degrees reach crisis points, the implosion will be catastrophic. The time to start dealing openly and positively on TRS problems is now.
"It has been a year since five executives were fired by the board, including executive director Richard Ingram. The board has offered up no explanation."
"Last March the AFT issued a report expressing concern about teacher pension investments in high risk private equity."
"As the Illinois legislature continues it annual practice of paying less than their actuarial obligation and the debt liability grows, TRS will likely turn to an even higher percentage in PE."
"For many of my retired colleagues this is not a concern so long as their monthly pension check shows up in their bank account."
The cumulative effects of these problems are enormous. It is similar to the causes of climate change. When several or all of these to varying degrees reach crisis points, the implosion will be catastrophic. The time to start dealing openly and positively on TRS problems is now.