Auditor Report Questions Pension Bill’s Returns
Published on January 1 2014 9:59 am
Written by Wayne Moran
Illinois’ Auditor General is questioning how much money will be earned by the pension investments of the state’s largest public retirement groups.
The actuarial consulting firm hired by the state recommends that teachers, public university employees, and state workers all lower their estimated returns in their pension investments. Officials say they’ll take a look at the report’s claims that investment projections are over one percent too high.
Anything dealing with public pensions is under scrutiny after last month’s controversial new law.