(KMOV) – Illinois is proposing a one-billion dollar cut, which would take a portion of funds the state pays for each teacher’s retirement plan. The state is asking local districts to pick up the tab.
In Madison, Illinois the board of education is closing two of the district’s four schools, and saving money in the process.
The board president says funding teacher’s pensions would burn up the saving plus some, and would likely require money from taxpayers.
The Illinois Teacher’s Federation says it’s still only a proposal and they’re in talks with legislatures.
The fallout could end up squarely on the backs of property owners.