A labor union is demanding the resignation of the head of Illinois’ teacher pension system. As Brian Mackey reports, the union doesn’t like what he’s been saying about the future of teachers’ retirement benefits.
Richard Ingram says in order to solve the long-term funding problems of the Teachers’ Retirement System, the state has to consider reducing automatic cost-of-living increases for retirees.
As the director of TRS, he says he understands it’s not an easy message to hear. But he says his responsibility it to make sure the teachers’ pension system has enough money. He says TRS has analyzed multiple scenarios, and all of them end with insolvency.
INGRAM: “When that’s the case, then you can’t be silent anymore. You have to say there needs to be changes.”
And that’s why one of Illinois’ two main teachers’ unions thinks he should step down. Dan Montgomery is president of the Illinois Federation of Teachers.
MONTGOMERY: “It is not the role of any TRS director to go out and advocate political points of view.”
The union head says cutting benefits is not the only way to solve the pension funding problem. He says teachers have lost faith in the ability of Ingram to safeguard their pensions.
Ingram says he has no plans to resign.
— Brian Mackey