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www.irtaonline.org

 

About our IRTA Unit

MyCounty IRTA is located in west central Illinois.  We are one of the most active units in IRTA and have 425 members.  Almost all are members of both our unit and the state IRTA.  We hold luncheon meetings at noon in February, April, June, August, October, and December in the VFW Hall in Baskerville.  We alternate our programs between member experts and outside speakers or entertainment.

Bob Lyons Shares Good News

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Bob Lyons, TRS Trustee,  Shares Good News

Good news, somewhere in the world there are folks that not only had $3.466 billion to invest, but also believe that the State of Illinois will be able to pay its debts, a combination less rare than I expected.   Probably within the week, TRS and the other pension funds will receive all of the money that they are still due for the year.   And it will be up to the State to pay back these notes, including the interest.    
Illinois pays pension bond premium as budget fix eludes state
Bloomberg NewsPublished: 1/8/2010 7:25 AM

Illi
nois, the second-lowest rated U.S. state, paid more than some comparably ranked U.S. companies when it sold $3.47 billion of taxable bonds to finance its annual contribution to a public employee pension fund.

The state, downgraded last month by Standard & Poor's and Moody's Investors Service, paid as much as 4.421 percent yesterday on the bonds, which mature in one to five years. The top rate was 182 basis points, or 1.82 percentage points, higher than the yield on five-year U.S. Treasuries, according to data compiled by Bloomberg. Corporate securities rated A that mature in three to five years traded 154 basis points over Treasuries yesterday, indexes from Bank of America Corp.'s Merrill Lynch & Co. show.