Its easy to see the funding problem and why its under 50% funded. Teachers pay 9% , school 2.5%, and the rest in up to whims of the government to contribute the needed difference. Across the river in MO., it is funded by 14.5% teacher and 14.5% district directly each month, with no money funded directly by the government and it is about 90% funded.
Illinois appears to have a 2.3 multiplier for 31 years for teachers, MO has 2.55 multiplier at 31. Illinois retirement ave. was $43 k from what I read and about $42k in MO. I am not offended and understand why people advocate the elimination of pensions, (my loving GF of 5 years who works in the "real world" doesnt think I should have one and we get along just fine
) But if you are going to have one either FUND IT CORRECTLY (as in Illinois's case 11.5% combined contribution rate aint gonna get it done) or eliminate it. Dont play games and have people pay in their whole life and get caught with nothing. Thats my opinion FWIW.