Friday, October 12, 2012
Teachers' Union Calls For Pension Director's Resignation
A statewide teachers’ union Thursday called for the resignation of the director of the state Teachers’ Retirement System after he commented publicly on proposed pension reforms.
Earlier this month, Richard Ingram, the executive director of the Teachers' Retirement System (TRS), told Crain’s Chicago Business, "When the question is, ‘What drives the cost,’ the direct answer is the cost-of-living adjustment.” Recent pensions reform proposals have included reducing COLAs or asking workers to choose between the current 3 percent annual COLA and their retiree health care coverage. The Illinois Federation of Teachers (IFT) accused Ingram Thursday of getting involved in the political fight over pension reforms and asked him to resign his post. “Dick Ingram, has announced his personal views about diminishing key benefits for existing workers and retirees,” said a statement.
According to a statement from TRS, Ingram does not intend to step down. "The TRS Board of Trustees meets on October 26 and will have an opportunity to consider the IFT’s statement,” TRS spokesman Dave Urbanek said in a written statement. “Director Ingram understands full well that questions about the long-term financial health of TRS leads to anxiety and concern among our members."
You can read Jamey's full report at: http://illinoisissuesblog.blogspot.com/2012/10/teachers-union-calls-for-pension-system.html
In the pic: Richard Ingram