About IERC

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 The Illinois Education Retirement Consortium (IERC) provides a collaborative governance framework that allows K–12 school districts in Illinois to work together to strengthen retirement plan oversight.

By participating in a shared consortium structure, districts can standardize governance practices, reduce fragmentation, and gain access to institutional-level plan administration that is often difficult for smaller districts to achieve independently.

The model focuses on consistent participant experience, emphasizing clear financial education, transparent plan design, and responsible oversight rather than decisions driven solely by individual vendors.

IERC works with independent professionals who support key services such as recordkeeping, compliance, and the ongoing monitoring of investment options within a defined governance structure.

• Establishes a shared governance framework for retirement plan oversight

• Aligns plan administration with applicable state and federal requirements

• Reduces administrative complexity through standardized plan structures

• Promotes transparent plan design and clear fee disclosure

• Provides coordinated professional administration and independent investment oversight

• Maintains district representation through consortium-level governance 

To provide public-sector employers with a standardized retirement plan framework that emphasizes fiduciary governance, supports educator financial well-being, strengthens workforce stability, and enhances retirement plan oversight within school districts consortium, while also protecting institutional trust.

A public education system where every educator has access to clear, well-governed retirement options, supported by fiduciary governance. Additionally, district leaders benefit from retirement plan oversight and are aided by defensible, consistent models through a school districts consortium.