Illinois Teachers Retirement System Funding Ratio Improves, Auditor Reports

SPRINGFIELD – The Illinois Teachers’ Retirement System’s unfunded ratio is decreasing. The latest Illinois Auditor General report for TRS released Tuesday shows a total liability of $162 billion, with $77.3 billion on hand. That makes the funding ratio 47.7%, which is up from 45.5% the previous year. Also released Tuesday was the audit for the State University Retirement System, which is 45.5% funded.