State has failed to manage pensions

In response to a letter published Saturday, May 30, submitted by Greg Stimpson regarding Christine Eggert's assertion that she has paid her 9 percent into the TRS regularly: What Mr. Stimpson's argument fails to consider is the 9 percent contribution that teachers make out of every paycheck issued is required by Illinois state Law.

That contribution is made with the expectation that the state will manage the system. It has not. It is not a savings account - which his illustration suggests - but an investment. Nine percent of every teacher's paycheck is handled for them - by the state - not by Edward Jones, not as individual investors - but by the state.

Kip North

Arlington Heights