Ron Daniels, Regional Superintendent and Lorie LeQuatte, Regional Superintendent
Regional Office of Education #13 and Regional Office of Education #21

Present

What's Happening with Your TRS Pension

The live sessions will also be recorded! Feel free to register for the session and either attend it live or have the recording sent to you once the session completes! The deadline to complete the participation activities is November 13!

Date:   October 30, 2020
 
Location: Virtual! Live! Participants will be provided a link.
 
Time: 8:00 a.m. to 9:00 a.m.
 
Credit: No Clock Hours will be Given
 
Topic Category: Teachers' Retirmement
 
Presenter: Rick Frankenfeld
 
Description:

Mr. Frankenfeld will gve an update on the impact of the virus on TRS investment returns and State revenues and what impact that will have on the future pensions in Illinois. In addition, he will talk about the new optional Defined Contribution program that will be available to all TRS active members in 2021. This new Supplemental Savings Plan (SSP) will provide another option for TRS members. Unlike, most DC district plans, the SSP will allow for loans.

Finally, he will discuss the latest State programs to reduce the unfunded liability of the system including: a limited one-time offer to all retiring Tier 1 members to trade their three percent compounded COLA for a 1.5 percent simple COLA plus money up-front and a limited offer to eligible inactive members to trade their participation in TRS for 60 percent of their actuarial benefit.

 
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