CHICAGO-- Investments made by The Teachers Retirement Systems grew 13.9 percent in 2012. Spokesman Dave Urbanek says this tells members their money is being used wisely.
“This added about $1.8 billion to the total assets we have on hand for our retired and active members throughout Illinois. Our total assets at the end of December were $38 billion and that’s a good thing for our members,” Urbaneksaid.
Even though TRS has experienced a profit from their investments, Urbanek says that it is not going to fix all of the pension problems.
“We’re not going to invest our way out of the pension problem that we have in Illinois. The current unfunded liability for all the systems is around $93 billion, and for TRS it’s about $53 billion. It’s just unrealistic for anyone to assume that were going to, through investment returns, make up that difference,” Urbanek says.