The state’s largest teacher’s union has called for Illinois lawmakers to lift a state-imposed cap which limits the size of pay raises for teachers. They stated the current cap of 3% is forcing teachers to leave the state. That cap was set last year to lower the state’s share for the cost of funding pensions for teachers.
Illinois currently has around $135 billion in unfunded pension liabilities with the Teachers Retirement System accounting for almost 75% of that liability.
Before 2005, the teachers cap was set at 20%
