Kevin B. Huber, executive director of the Chicago Teachers' Pension Fund (CTPF) submitted his resignation and will leave the fund effective December 31, 2014. Huber joined the fund as Chief Financial Officer in 1999, and was promoted to Executive Director in 2005. He has been on medical leave since May 2014. 

"Our Trustees thank Mr. Huber for the outstanding leadership and guidance he has provided our fund during the past 16 years. As CFO and then as Executive Director, he has worked tirelessly on behalf of our members and our staff, and has set a high standard for our fund," said Jay C. Rehak, president of the CTPF Board of Trustees. "He brought a rare combination of professional and interpersonal skills to this position and we will miss him greatly."

The Board of Directors has initiated a national search for candidates to fill Huber's position, and is working with executive search firm EFL Associates. The fund's current Interim Executive Director, Peter A. Driscoll, will stay on with the fund through March 31, 2015, to ensure a smooth transition.

Questions or inquiries regarding the executive director position should be directed to Elena McCall, assistant vice president, emmcall@eflassociates.com.

CTPF Testifies at Senate Committee on Diversity

Pictured, after the Senate Committee on diversity hearing on October 29, 2014, from left to right, front row: CTPF Lobbyist Bukola Bello, CTPF Trustee Jeffery Blackwell, State Senator and Committee Chair Kwame Raoul, CTPF Trustee and Financial Secretary Mary Sharon Reilly, State Senator Iris Martinez, CTPF Trustee Tina Padilla, CTPF Chief Investment Officer Carmen Heredia-Lopez, and CTPF Board of Trustees Vice President Lois W. Ashford. Back row: CTPF Lobbyist Steve Zahn, CTPF Interim Executive Director Peter A. Driscoll, CTPF Trustee Robert F. Bures, CTPF Trustee Walter E. Pilditch, CTPF Board of Trustees President Jay C. Rehak, and Illinois Senator James Clayborne, Jr.

Thursday, October 29, 2014, CTPF presented the fund's 2014 Diversity report to the Illinois Senate Committee on Pensions and Investments.

"Since the early 1990s, CTPF has been at the forefront of pension and retirement systems throughout the United States when it comes to fostering opportunity for emerging manager firms," said Jay C. Rehak, president of the Board of Trustees. "Our practices ensure that minorities, women, and persons with disabilities have access to the many opportunities to conduct business with CTPF."

In Fiscal Year 2014, the fund invested 33.4% or $3.6 billion of total fund assets with qualified minority, women, and disabled business enterprises (MWDBE). 

The report also presented information on the diversity of the fund personnel. Among all CTPF employees, 75% are women and 25% are men. About 62% of staff members are African American, Asian American, or Latino and 38% are Caucasian.

"Our MWDBE program has been instrumental in our long-term success. We believe diversity of managers makes perfect fiscal sense in a global market," said Rehak.

Total MWDBE Growth Since 1993

2015 Open Enrollment for Retirees Ends Today

CTPF offers health insurance benefits to retired members whose final teaching service was CTPF, and their eligible survivors/dependents. CTPF offers an annual Open Enrollment Period during October when retirees can:

  Enroll in a health insurance plan for the first time   

  Add a dependent to a CTPF plan   

  Change a health insurance plan or carrier    

The CTPF Open Enrollment Period ends today, October 31, 2014. Changes made during Open Enrollment become effective January 1, 2015.

Once in a Lifetime Rule Waived

Eligible members and their dependents may enroll in a CTPF health plan once in a lifetime, unless they experience a qualifying event. CTPF will make an exception and allow all qualified members and their dependents to enroll in CTPF plans during the 2015 Open Enrollment period. This exception is being made to accommodate members who may be impacted by changes to CTPF's outside rebate program. 

Education and Advocacy Update....

Ready to make an impact? Many members have asked what they can do right now to help preserve their benefits and advocate for CTPF pensions. You can visit, call, fax, or e-mail local elected officials to share your opinions about pensions. Here are some ideas:  

1. Join the Pension Fund Ambassador Program  

2. "Like US" on Facebook

Legislation or events that may impact your pension can happen quickly. Oftentimes the first place we post information is on Facebook. Make sure you "like" us on Facebook to stay informed and up-to-date.

  

Our publication, Mistakes of the Past, gives a history of funding for CTPF and illustrates the damage that pension "holidays" have caused. Share this with a legislator.    

  

4. Know Your Elected Representatives 

Do you know who represents your interests in Springfield? If the answer to that question is "no" you can logon to our Legislative Action Center. The Legislative Action Center is a one-stop shop where you can find information about your elected representatives, track legislation, and e-mail legislators.