Teachers’ Retirement System unfunded liability grows

SPRINGFIELD, Ill. (IRN) — Illinois taxpayers are on the hook for an additional $3.2 billion dollars in unfunded pension liability for the state’s Teachers’ Retirement System.

An Auditor General financial audit published Tuesday showed the unfunded ratio decreased from 40 percent in 2018 to 39.6 percent in 2019.

The overall liability of the fund also increased by $4.5 billion to $134.4 billion.