I consider Tom White a friend, and we
have often agreed on pension issues. However, I was confused when he stated
that Executive Director Dick Ingram had tried to convince TRS trustees that we
need to follow ERISA standards. As Tom White knows, TRS is not governed by
ERISA but by the Illinois Pension Code. ERISA covers private pensions and not
public pensions.
Tom White’s point is that Executive
Director Ingram and the TRS trustees should do everything they can to protect
the pension fund and the benefits of the members. That is truly our goal as
well. Nevertheless, TRS would be required to administer whatever law may be
passed, and TRS lacks the authority to determine whether a law is
constitutional or unconstitutional beforehand. There is no basis for taking the
State of Illinois to court before a law is passed. Furthermore, it would be up
to the courts and not TRS to determine the outcome.
As for Tom White’s claim that TRS has
been infiltrated by a “Civic Committee/Civic Federation mole,” while I doubt
anything I may say will change his opinion, I disagree. Executive Director
Ingram is committed to protect and to increase the pension fund’s assets.
No matter what the press has done
with Ingram’s ill-chosen remarks, the position of the TRS Board is that the
State of Illinois should pay its annuitants what it owes them and that any
attempt to solve the debt problem should be constitutional. In this regard, Tom
White and I are in complete agreement. As he pointed out, the individual
members of TRS Board and the officers of the System have all signed an oath to
that effect.
I am glad that Tom White and so many
others are committed to making sure the Executive Director and the trustees do
the right thing for all of its annuitants. Their vigilance can only help the
System.
Bob Lyons
Elected Retired AnnuitantTRS Board
Tom White's Article:
Bob's comments raise an interesting issue for me. If what he says is true - that TRS, and the TRS board, would be required to administer what ever law may be passed (and I believe it is true) - then we might very well have the situation where the President of the IEA would be administering COLA cuts to members of her own union, if that is what the legislature ends up demanding. To those who deny a conflict of interest when it comes to having the President of the IEA sitting on the board of trustees - what will you say then?
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