Illinois Teachers' Retirement System, Springfield, received a $1.22 billion contribution from the state, part of the proceeds of a $3.466 billion pension obligation bond sale, said Stan Rupnik, acting executive director and chief investment officer of the $30 billion fund.
About $250 million of the POB funds was invested with existing fixed-income managers; $400 million went to existing real-return managers; and $571 million was set aside for benefit payments over the next few months, Mr. Rupnik said.
