Crain’s: Cross calls for committee meeting over Illinois’ TRS pension strategy

(Crain’s) — Illinois House Republican Leader Tom Cross called for a meeting of the House Personnel and Pensions Committee in the next month to examine a new investment strategy by the Illinois Teachers’ Retirement System that directs about a third of its $37.8 billion in assets to alternative investments such as private equity and hedge funds. 

Mr. Cross, whose party is in the minority in the House, made the request in a letter to Democratic House Speaker Michael Madigan on Tuesday, saying the TRS plan to boost investment income could backfire.

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