Illinois stopgap budget to include state contribution to Chicago Public School Teachers' fund
from Pensions & Investments
The Illinois General Assembly voted Thursday to help prop up the $9.8 billion Chicago Public School Teachers' Pension & Retirement Fund with a one-time, roughly $200 million state pension contribution and property tax levy. The one-time contribution, due by June 30, 2017, would cover the normal cost of teachers’ pensions — the contribution required to cover active teachers in Chicago Public Schools.
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