TRS Works Hard to Overcome COVID-19 Effect on Investments

SPRINGFIELD, IL – Teachers’ Retirement System has issued a “request for proposals” seeking an executive search firm to assist the TRS Board of Trustees with the recruitment and hiring of a new executive director for the System.

All proposals responding to the executive search firm RFP must be submitted in writing to TRS by 2 PM C.S.T. on Wednesday, September 23, 2020.

The complete the RFP, including detailed instructions for submitting a proposal, is posted on the System’s website, www.trsil.org.

In the wake of the economy-crippling COVID-19 pandemic, Teachers’ Retirement System assets experienced a $4.9 billion rebound between March and July, climbing to a total of $53.4 billion.            

SPRINGFIELD, IL – In the wake of the economy-crippling COVID-19 pandemic, Teachers’ Retirement System assets experienced a $3 billion rebound during the March-to-June quarter of fisal year 2020, climbing to a total of $51.6 billion.

Contact: Dave Urbanek, Public Information Officer                                                                                          
Office: 217-814-2177
Cell: 217-891-0140
durbanek@trsil.org

SPRINGFIELD, IL – Teachers’ Retirement System continues to protect member assets as much as possible and has slowly started to recapture funds lost to the economic devastation of the coronavirus pandemic.

The System’s strategic focus is on a prudent, long-term allocation of assets that is mindful of investment risk, protects assets during any economic downturn and is nimbly poised to take advantage of economic growth.

SPRINGFIELD, IL – All TRS member benefits for April were paid in full and on schedule today, despite coronavirus restrictions.

Working from home, TRS staff processed and certified payments for 124,853 retired members and beneficiaries and sent the payment requests to the Illinois Comptroller’s office. The Comptroller’s office then transferred the funds on time to the bank accounts of all eligible members.

The benefits paid for April totaled $586 million.

Each year, Teachers’ Retirement System distributes approximately $7 billion in benefits to retired members and beneficiaries, or about $575 million every month. Those benefits must be – and always have been – paid each month, no matter what the economic conditions may be.

TRS will continue to have sufficient funds to meet all benefit payments on time and in full for the foreseeable future despite the worldwide economic upheaval created by the spread of the coronavirus.

SPRINGFIELD, IL – Teachers’ Retirement System in recent weeks has committed $3 billion to various investment opportunities in order to continue building the fund’s assets for its members’ retirements.

Reports to the TRS Board of Trustees indicated that the System ended calendar year 2019 with a positive 13.4 percent investment return, net of fees.