SPRINGFIELD, IL – Teachers’ Retirement System Board of Trustees has selected Voya Financial to administer the new TRS Supplemental Savings Plan, a defined contribution retirement vehicle that TRS members can elect to supplement their TRS pensions.

Voya Financial of Windsor, Connecticut, will administer the SSP as a voluntary 457(b)-style plan that allows participating members to contribute a portion of each paycheck to a savings account that is then invested on their behalf.

SPRINGFIELD, IL – The Teachers’ Retirement System Board of Trustees has given preliminary approval to a $5.14 billion state contribution to the System for fiscal year 2021, a 6.9 percent increase over the current fiscal year’s government contribution of $4.81 billion.

The Board also announced that the TRS investment portfolio generated a positive 5.15 percent return, net of fees, during fiscal year 2019.

SPRINGFIELD, IL – Teachers’ Retirement System reported $1.15 billion in strategic allocations to various investment opportunities designed to enhance the retirement trust fund for the System’s 417,000 members.

During the Board of Trustees’ regularly scheduled August meeting, the TRS investment staff reported the following actions:

SPRINGFIELD, IL – Veteran TRS investment staff member Jose Gonzalez has been named by Teachers’ Retirement System to be the investment officer leading the System’s $750 million Emerging Manager Program, which continually identifies and nurtures growing money managers.

The Emerging Manager Program is an integral element of the long-standing TRS commitment to expanding opportunity and diversity within its investment portfolio.

Three Members Elected in May to the TRS Board of Trustees

Marsha Byas of Harrisburg, Trustee

SPRINGFIELD, IL – Teachers’ Retirement System has hired Cammack Retirement Group, of New York, New York, to serve as the System’s consultant to assist in the creation of a first-ever “defined contribution” retirement plan that TRS must make available to all 161,000 active members.

SPRINGFIELD – Marsha Byas of Harrisburg, Trustee Andrew Hirshman of Oak Park and Douglas Strand of East Moline have been elected by members of Teachers’ Retirement System to the retirement fund’s Board of Trustees, according to preliminary results of the 2019 Trustee election announced today.

If certified by the TRS Board of Trustees this spring, Ms. Byas, Mr. Strand and Trustee Hirshman will begin their four-year terms on July 15.

Executive Director’s M

SPRINGFIELD – The Teachers’ Retirement System Board of Trustees has unanimously approved the following statement concerning state funding for the System as presented in the Illinois state budget proposal for fiscal year 2020:

SPRINGFIELD, IL – The salaries and retirement benefits of working and retired public school teachers create a $16.1 billion economic stimulus annually in Illinois, according to a study by Teachers’ Retirement System measuring the impact of TRS members across the state.

The study, completed in November of 2018, revealed that salaries paid to active TRS members teaching in schools and pensions and benefits paid to retired members also support 110,600 jobs in every part of Illinois with a combined payroll of $4.7 billion.