In recent months, while reporting on the financial problems faced by Illinois and other states, several news organizations, including the New York Times and Fox News, have focused attention on public pension systems throughout the country as one reason why states are facing multi-million-dollar revenue shortages.
It is with great excitement and enthusiasm that I write this welcome letter for the beginning of the 2010-2011 school year. On behalf of the IASA Board of Directors and the 867 Superintendents throughout our state, I want to express best wishes to the start of another productive school year.
Just as we have in the past, we will face many challenges during this school year, both as an organization and as school leaders. We will undeniably continue to give our time, effort, and dedication to meeting the challenges during these uncertain times. As educational leaders, we understand that we have a great responsibility to be servants of our respective communities and staff, but even more importantly, to doing what is best for our students.
Underfunded State Retirement Systems and the Road to Reform
A $1 trillion dollar gap currently exists between benefits states have promised their current and retired workers as of fiscal year 2008 and what states currently have on hand to pay for them, according to a report by the Pew Center on the States. An analysis of key findings and possible approaches for a more secure future are included. Click hereto review the entire report.
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