IL HR0187

Opposes a proposed pension cost shift that would transfer $10.187 billion in normal pension costs from the State of Illinois to local school districts, community colleges, and state universities over 10 years.

States that 67% of Illinois school districts are currently operating at a deficit and that shifting pension costs would likely result in massive property tax increases or classroom cuts.

Notes that school districts already contribute 0.58% of pensionable teacher payroll to the Teachers' Retirement System, totaling $92.5 million in Fiscal Year 2012, plus additional costs for locally-negotiated early retirement options.

Warns that shifting costs to universities could increase tuition by 2% for each percentage of payroll cost shifted, making higher education less affordable for students and parents.

Declares that the House of Representatives opposes the pension cost shift as financially unsound and views it as an unfunded mandate on local educational institutions.