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Changes from the “Tier I” pension law include raising the minimum eligibility to draw a retirement benefit to age 67 with 10 years of service, initiating a cap on the salaries used to calculate retirement benefits, and limiting cost-of-living annuity adjustments to the lesser of 3 percent or half of the annual increase in the Consumer Price ...
SURS has been developing its investment program since the early 1980s, when Illinois, like many other states, changed its laws to allow the state pension funds to adopt modern investment practices. At the same time, the new laws established a high standard of fiduciary responsibility, namely adopting the prudent expert rule.
The City Treasurer’s Office is the custodian and manager of all cash and investments for the City of Chicago, the four City employee pension funds, and the Chicago Teacher’s Pension Fund. Additionally, the Treasurer’s Office manages a number of programs that promote financial education and small business growth in Chicago’s neighborhoods.
Retired Chicago teacher returns to work to keep a roof over her head — how inflation is draining seniors’ nest eggs Bethan Moorcraft June 11, 2024 at 5:58 AM
‘I didn’t want to be… homeless’: Retired Chicago teacher, 74, forced to return to work to keep a roof over her head — how you can keep inflation from draining your nest egg Moneywise ...
Dean and Patty Dennis worked in Ohio schools for 30 years, paying into a state pension plan. Then the pension stopped giving them cost-of-living increases. What happened when private equity, hedge ...
The Illinois Municipal Retirement Fund (or IMRF) is the second largest and best-funded public pension system in Illinois. Since 1941, has partnered with local units of government to provide retirement, disability and death benefits for public employees.
(The Center Square) – The Chicago Teachers Union is moving quickly to finalize a new contract with Chicago Public Schools. CPS and CTU have been without a contract since June 30, when the ...