What does the elimination of ERO mean for Illinois teachers?

ERO (Early Retirement Option) has been around since 2005, and Illinois teachers have been using it to retire early without a reduction in their pension benefit. If a teacher had two years left until they had full pension benefits, they could pay these pensions contributions up front – if the district agreed to do the […]

Are you leaving your pension to the right person? [VIDEO]

Deciding whom to leave your money to can be a tough decision. If you are married, then it will most likely go to your spouse. If you have children, then they may be next in line. But even simple scenarios like this can be filled with details that can derail these plans.

I am married to a teacher, how should we save for retirement?

The concerns held by teachers about their long-term benefits are not just held by them, they’re also a concern for their spouses. So what do I suggest when it comes to saving for retirement?

Four ways Illinois can fix the Pension Crisis: But which will be chosen?

The Illinois pension system (TRS, SURS, etc.) has been in crisis for a number of years. It’s also one of the largest systems in the country. How can it be fixed?

I’m retired from teaching, now what?

This new phase of life can bring a sea of emotions, and many of them can be unexpected. However when it comes to planning what to do with your time – which can span decades – it pays to put some deliberate thought into it.

“It’s time for your 15 minutes, Mr Grant”

I’ve never been on network TV before. But I recently got to check that off my to-do list. Let’s talk about “how teachers should manage their finances.”

Illinois pension reform deemed unconstitutional

Lawmakers will now have to go back to the drawing board to find a way to reduce the pension deficit.

Social Security, WEP and a Teacher’s Pension [VIDEO]

If you’ve earned Social Security benefits on your record (40 credits or 10 years of working), you are eligible for Social Security benefits. However, your pension will reduce the amount as to how much you’re eligible. The part of the Social Security code which determines this is called the “Windfall Elimination Provision (WEP)”.

What will Bruce Rauner’s new budget mean for Illinois teachers?

In reading the summary of the new budget, it seems that every teacher will be affected by upcoming changes, and teachers who are relying on their pension being a certain amount may need to adjust their assumptions of what retirement might look like

How Bruce Rauner will “fix” the Illinois TRS pension

Bruce Rauner, Illinois new Governor, says he can fix the pension systems. But can he?