Unlike all other school districts in Illinois, which receive
full teacher pension funding from the state, CPS is required to fund its own teacher pension system while its taxpayers also pay into the pension funds of other districts.
Not exact matches
The
Teachers Insurance and Annuity Association and College Retirement Equities
Fund has announced that it will comply in
full with federal court orders requiring it to pay equal monthly
pension benefits to both men and women who retired after May 1, 1980.
For a typical secondary school of 920 students, this equated to a budget difference of # 1.9 m between the best and worst -
funded areas, enough to pay the total costs - salaries and
pension contributions - of 40
full - time
teachers, he said.
The state law mandating
full funding of
teacher pensions, which were made iron - clad through «bond covenants» with Wall Street was adopted in 2007, four years BEFORE Dannel Malloy became governor.
While the
full findings of my study are still under wraps, the conclusions are clear:
teacher pensions exacerbate school
funding inequities in Illinois.
Let's be honest — if Governor Malloy had unilaterally taken steps to «fully
fund teacher pensions» and «guarantee
full funding in the future,» that would have been a powerful reason for
teachers to consider voting for him, but the truth is far from what Malloy's supporters are suggesting.
While the «EXAMINE THE FACTS» document failed to highlight the reality that Governor Malloy actually proposed CUTTING
funding for
teacher health care, in an attempt to persuade
teachers to vote for Malloy, the «fact» sheet claimed that Malloy is the «First governor in Connecticut's history to annually fully
fund teacher pensions during his term in office and guarantee
full funding in the future.»
The primary problem with the claim is that Malloy had no legal option but too fully
fund teacher pensions and furthermore, he deserves absolutely no credit for guaranteeing
full funding of the
teacher pension system in the future.