Top officials leave teachers' pension system

Director resigns under pressure, chief financial officer terminated

Richard Ingram, director of the Illinois Teachers Retirement System, has resigned after being placed on administrative leave by the TRS board.

Ingram’s resignation comes after the recent termination of Jana Bergschneider, the board’s chief financial officer. Bergschneider was paid $191,300 last year, according to Illinois comptroller records. Ingram was paid $303,000 per year, according to the comptroller.

David Urbanek, TRS spokesman, said that he could not give details surrounding the departures of Bergschneider and Ingram, saying that they are personnel matters. Devon Bruce, board chairman did not respond to an emailed request for an interview. After Illinois Times asked to speak with Bruce, Urbanek told the paper that the board chairman is not giving interviews.


"However, I have been authorized to provide the media with one addition piece of information: The Board’s unanimous vote came after an investigation of issues relating to Mr. Ingram’s contract conducted by the Chicago law firm of King and Spalding," Urbanek wrote. "Leading the investigation for King and Spalding was its managing partner, Zachary Fardon, the former U.S. attorney for the Northern District of Illinois."

Asked whether the investigation found any evidence of criminal conduct or whether any law enforcement agency has been contacted, Urbanek wrote in an email that he had no comment.

According to a written statement from TRS, the board voted to put Ingram on administrative leave on July 31 “due to performance issues covered by his employment contract.” Ingram resigned on Aug. 3, effective immediately, according to the board statement. Stan Rupnik, TRS chief investment officer, has been named interim director.

Contact Bruce Rushton at brushton@illinoistimes.com.

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