Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Public schools in Illinois have about 180 student attendance days.
So teachers in retirement can continue to be substitute teachers for about 67%, or 2/3rds (120/180 days) of their pre-retirement attendance day workload.
The collective bargaining agreement between the school district and the teacher union local, which is posted on the website of each school district, contains the details of a teacher’s workload.
One of the main arguments the teacher unions (IEA/IFT) made to justify lowering the teacher retirement age was to increase the quality of education.