Illinois' economy was slow to feel the effects of the Great Recession, and has been slow to recover from it. The state's Department of Commerce and Economic Opportunity is submitting a five-year plan to the General Assembly, with suggestions for business growth and more state spending.
Originally published on Wed June 25, 2014 11:03 am
The Illinois Teachers' Retirement System says it expects a lower return on its pension investments in the next year. That means the state will have to cover more of the cost of teacher pensions.
TRS says it's still a good assumed rate of investment return at 7.5 percent. That falls in line with similar pension systems nationwide. But it's not as profitable as 8-percent, which TRS had been using for the previous few years.