August 21, 2014, the CTPF Board of Trustees named Peter A. Driscoll, interim executive director. Driscoll will hold the position through December 31, 2014. Driscoll replaces Jay C. Rehak, president of the CTPF Board of Trustees who returned to his teaching position in August. Rehak remains president of the Board of Trustees.

Driscoll has extensive experience as a consultant and pension fund administrator. He worked for more than 20 years at The Segal Company, a privately-held employee-owned actuarial and consulting firm providing benefits and human resources consulting for multiemployer funds and public sector organizations. He began his career at Segal as an analyst and rose to head the Chicago office. Driscoll then served for a year as the  pension and welfare funds' administrator for Sheet Metal Local 73 and for a decade at Pipefitters Local 597.

"We appreciate Mr. Driscoll's willingness to step in to this role," said Jay C. Rehak, president of the CTPF Board of Trustees. "His excellent skills and experience will enable him to provide leadership and a seamless transition during this interim period." 
 

Driscoll is a Chicago native and earned his bachelor of arts degree, with honors, from the University of Chicago. 

Tiffany Reeves Named Chief Legal Officer

Tiffany Reeves has been named CTPF's Chief Legal Officer. Reeves has experience working as an attorney in both the public and private sectors, and most recently worked for the law firm of Jacobs, Burns, Orlove & Hernandez (JBOH), the Fund's outside counsel. At JBOH Reeves represented and counseled the firm's labor union clients in all aspects of labor law, including collective bargaining issues and handling grievance arbitrations. Reeves also counseled and represented the Firm's public sector and ERISA pension and health and welfare funds on various personnel, fiduciary, investment, legislative, governance, and operational and compliance issues.

Originally from Eugene, Oregon, Reeves received her Juris Doctorate and Bachelor of Arts degrees from the University of Oregon, and a Master of Arts degree from Northwestern University.

CTPF Return To Work Rules

The CTPF Board of Trustees recently updated the return to work rules for retirees. 

Click here for a copy of the current rules

Summary

Under the Illinois Pension Code, a CTPF retiree may return to work as a temporary and non-annual employee for the Chicago Board of Education or a Chicago Charter School employer (Employer) under limited circumstances. The CTPF Board of Trustees recently updated the rules for administering this law.

• CTPF retirees are limited to working on no more than 100 days for an Employer(s).
• A day is 7.25 hours. There are 725 hours in a year. A year is July 1 - June 30.
• Retired teachers cannot earn more than $30,000 (gross) from an Employer(s) in a year.
• Retirees with 5+ years of service as an Administrator cannot earn more than $50,000 (gross) in a year from an Employer(s).
• A retiree who works on 100 or less days but for more than 725 hours in a year will not have his/her pension cancelled as long as the compensation limits are not exceeded.
• Retirees have the sole responsibility of tracking all time worked and compensation received during re-employment.

Action items:

All retirees must complete CTPF Form 717 and return it by September 1, 2014. 

Click here for a copy of Form 717.

Notify CTPF 30 days before you return to work for an Employer by filing Form 770.

Click here for a copy of CTPF Form 770

Reciprocal Retirees

Each system has different rules. Reciprocal retirees must check with all former systems to ensure compliance.

Questions

If you have questions about the policy contact CTPF Member Services at 312.641.4464.