Illinois Teachers' Retirement System, Springfield, in August likely will discuss lowering the $37 billion pension fund's assumed rate of return below its current 8.5%, David Urbanek, a spokesman, said in an e-mail.
Trustees have not tackled the issue of changing the pension fund's 25-year-old expected return rate because actuarial consultant Buck Consultants still is working on a study. However, Richard M. Ingram, TRS executive director, predicts that trustees will discuss and possibly decide to make a change, Mr. Urbanek wrote.
“Settling on the assumed rate of return in August would then give Buck an appropriate amount of time to do the annual valuation of the system and from that determine what the state's annual contribution must be for fiscal year 2013 so the board can certify it by the November deadline,” Mr. Urbanek wrote.
Trustees will meet Aug. 22-24.