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.
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 – Teachers’ Retirement System has committed more than $1.8 billion to various investment opportunities; all designed to advance the mission of TRS on behalf of its 417,000 members.
During a regularly scheduled meeting of the TRS Board of Trustees, the System’s investment staff reported the following actions:
Within the $16.9 billion Public Equity Portfolio:
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.
SPRINGFIELD – The Teachers’ Retirement System Board of Trustees today approved series of investments totaling $905 million, including an initial $50 million commitment through the System’s Emerging Manager Program to a two-year-old woman-owned money management firm.
The initial commitment of $50 million to Quadratic Capital Management of Greenwich, Connecticut, included the potential for additional TRS commitments that could total as much as $100 million for investment opportunities in absolute return strategies.
SPRINGFIELD, IL – The trustees of Teachers’ Retirement System today committed up to $200 million within the System’s $5.2 billion Private Equity portfolio to Riverstone Holdings of New York, New York for opportunities within the energy sector of the economy. Riverstone already administers $372.2 million in TRS assets.
In other action by the Board of Trustees during its scheduled meeting in March, the trustees:
SPRINGFIELD, IL -- Teachers’ Retirement System has issued a Request for Proposals seeking currency managers to manage a portion of the System’s foreign currency exposure.
SPRINGFIELD – Andrew J. Hirshman of Oak Park and Cinda J. Klickna of Rochester have been elected by active members of Teachers’ Retirement System to the retirement fund’s Board of Trustees, according to preliminary results of the 2015 Trustee election announced today.
