pension reform

Nearly 40 cents out of every education dollar in Illinois goes to pensions for retired educators; pension reform badly needed

September 24, 2021 | By Adam Schuster, Senior Director of Budget and Tax Research, Illinois Policy

Growing pension costs for retired educators and administrators are quickly crowding the classroom out of Illinois budgets. Pension costs are crowding out direct education spending throughout Illinois school districts. In the coming school year, 39% of the money the state allocates to education will be diverted away from teachers and students to meet required pension…