From Education Week — Teacher-retirement systems are supposed to provide a measure of security in exchange for years of service. But for new teachers in Illinois, that’s looking increasingly unlikely.
Nearly a quarter of newly hired teachers will never vest in the state’s Teacher Retirement System, a new analysis says. What’s more, three quarters won’t even make back what they pay into the system.
Those statistics are the result of changes made by lawmakers in 2011 to scale back costs, according to the analysis, by Bellwether Education Partners, a Washington-based consulting firm.
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