TRS to lose US$1bn in state funding in 2006/07

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US - The US$35.4bn Teachers' Retirement System of Illinois (TRS) is set to lose over $1bn in state contributions for fiscal years 2006 and 2007.

According to TRS, the Public Act 94-0004 reduced the state contribution for the fiscal years 2006/07 by approximately 50%. In order to correct the funding shortfall, several pieces of legislatio...

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