Tag Archives: richard ingram

Head of teacher pension fund says state will need to cut COLAs

“Look at every other state that’s done pension reform – what have they done? They’ve changed the COLA because that’s where the cost is,” Teachers Retirement System executive director Richard Ingram.


Illinois Teachers Retirement System

The last time Illinois Teachers Retirement System director Richard Ingram advocated pension reform to protect benefits for future retirees, he did not get a warm reception in some quarters. The State Journal-Register said Ingram paid the price for speaking the truth.

Retirement Benefits for Teachers

Cuts to cost-of-living adjustments must happen now to insure retirement benefits are there when current teachers retire, says the head of the state’s largest pension plan, Illinois Teachers Retirement System. Without a change, TRS chief Richard Ingram warns, “’It’s likely that benefits are impaired today, that we’re looking at the possibility in the future of not being able to pay them.” One-fourth of TRS benefit payments are for COLAs, Ingram tells Crain’s Chicago Business. 



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