Illinois Educators for Fair Retirement

Principles that Should Govern Illinois Teacher Retirement Benefits: Fairness | Portability | Education | Sustainability

[Illinois Educators for Fair Retirement @IllinoisFair]

Over the past decade Tier 2 COLA rates have not keep pace with inflation and have been 3x less than inflation adjustments for Tier 1. As costs are climbing higher, can we trust that teachers retiring with Tier 2 benefits are going to be able to keep up? https://t.co/QLAt7atYLz

[Illinois Educators for Fair Retirement @IllinoisFair]

Illinois needs to do more to ensure its retirement systems are properly funded, both for Chicago and the rest of the state. Join us in demanding better for our teachers: https://t.co/QLAt7auwB7

[Illinois Educators for Fair Retirement @IllinoisFair]

Someone should tell new teachers when they are starting that they only have a nearly 50/50 chance of actually earning any benefits that would put them on a path to retirement income security. Illinois Educators for Fair Retirement is calling for change: https://t.co/QLAt7atYLz

[Illinois Educators for Fair Retirement @IllinoisFair]

Teachers’ jobs are harder than ever and we need more of them. But, in Illinois, new teachers and those with less than 10 yrs of service are 2nd class employees when it comes to retirement benefits. Help us close the retirement income gap for IL teachers: https://t.co/QLAt7atYLz

[Illinois Educators for Fair Retirement @IllinoisFair]

Illinois TRS Tier 1 benefits are 42% funded.
Illinois TRS Tier 2 benefits are 127% funded.
So why are TRSIL Tier 2 teachers being forced to make contributions into the pension fund to pay down the debt for Tier 1 benefits?

It doesn't have to be this way: https://t.co/QLAt7auwB7

[Illinois Educators for Fair Retirement @IllinoisFair]

Instead of funding teacher retirement benefits responsibly, #ILleg slashed benefits for Teachers hired after 1/1/2011 to pay for the mistakes of the past. We don’t think that’s fair. Illinois Educators for Fair Retirement is calling for change: https://t.co/QLAt7auwB7

[Illinois Educators for Fair Retirement @IllinoisFair]

Is this really a retirement plan for all teachers? Illinois needs retirement benefits that work for all teachers. Learn more: https://t.co/QLAt7atYLz

[Illinois Educators for Fair Retirement @IllinoisFair]

While teachers enrolled in TRSIL Tier 2 are paying for the pension debt on Tier 1 benefits, they will receive less than half the retirement income of Tier 1 teachers.

That doesn’t seem fair. Add your name to our open letter and let’s fix it together: https://t.co/kJGaqUIqqr

[Illinois Educators for Fair Retirement @IllinoisFair]

Illinois legislative leaders passed Tier 2 benefits without almost any public debate. And now an entire generation of teachers is getting stuck in a retirement income gap. Learn more and sign our open letter: https://t.co/QLAt7auwB7

[Illinois Educators for Fair Retirement @IllinoisFair]

In its own 2021 valuation report, TRSIL stated that Tier 2 benefits would lose value in retirement, while tier 1 benefits would keep pace with inflation. Join us to close the IL Teacher Retirement Income Gap: https://t.co/QLAt7atYLz

[Illinois Educators for Fair Retirement @IllinoisFair]

For an Illinois teacher hired at age 25 who works 35 years, the lifetime value of a Tier 1 pension is about $1.3M. For a tier 2 teacher, it is just $640K. Why are IL teachers denied equal compensation for equal work? Learn more and sign our open letter: https://t.co/VL9g8FoEU5

[Illinois Educators for Fair Retirement @IllinoisFair]

Illinois educators hired after January 1, 2011 will receive less than half of what previous generations of teachers have earned in retirement income. Learn more here: https://t.co/VL9g8Fo74x