Illinois Teachers doles out $665 million to 5 alts managers – Pensions & Investments

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Freddy
6 years ago

Remember most of the contributions to teacher accounts are paid for by pension pickups. Here in Rockford pickup is 100%. What are the pension management fees for the $665M. The fees come right off the top thus reducing total funding levels as do Tier 1 retirees prior to 2010 who could spike the sky. According to Ballotpedia in 2012 pension fees on $53B in assets were 0.55% or approx $313M returning only 0.7%. They are somewhat better now. If fees were cut in half taxpayers could save over $150M/yr. Alabama had about 1/2 the assets in 2012 with fees of… Read more »

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