Pension problems persist

Published 06/19 2012 05:04PM

Updated 06/19 2012 05:52PM

SPRINGFIELD -- State leaders are divided on the idea of having school districts chip in for teacher pensions. Some argue they won't be able to afford the extra costs.

But, a new study states otherwise. It shows more than half the school districts in Illinois could take on the costs. It reports many have extra money in their operating budgets.

Todd Covault, of Decatur Public Schools, says those numbers are definitely misleading. He says any spare funds they do have would be gone by next year. That means there'd be no money after that to pay into pensions.

Covault says raising property taxes to offset the cost isn't realistic. The district just cut $5 million from its budget. Covault says there's no way they can trim it any more.

Another recently released report states Illinois has the worst funded pension system in the country. Lawmakers are still working on a way to fix it.

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