As the 2015 fiscal year comes to a close, the Chicago Teachers' Pension Fund (CTPF) reminds members that the mistakes of the past - underfunding pensions - cannot be repeated. 

Please take five minutes out of your day to protect your pension.

1. Click here to send an e-mail from CTPF's Legislative Action Center. Urge your legislators to support fully funded pensions for Chicago's educators. 
2. Learn more about CTPF's funding history. You can download the "Mistakes of the Past" flyer and share it with your local legislators.  
   Click here for a full-color version.
   Click here for a black and white version. 

1996-2005

Pension "holiday" takes $2 billion in funds earmarked for pensions and redirects them to Chicago Public Schools (CPS) operating budget. CPS promises to pay the Chicago Teachers' Pension Fund (CTPF) when the funded ratio falls below 90%.

2006

CTPF's funded ratio falls and CPS begins making payments to the pension fund for the first time in a decade.

2010

PA 96-0889 grants $1.2 billion in pension "relief" to CPS and extends the funding schedule by 14 years to 2059. This costs taxpayers an additional $12 billion.

2011-2013

CPS makes required payments to CTPF at the reduced amount (about $200 million per year instead of the required $600 million).

2012

CTPF funded ratio drops to 53.9%. CTPF must liquidate $60-80 million in assets each month to make pension payments.

2013

CPS must pay the pension fund more than $600 million in 2014. CPS requests additional "relief" with SB1920 House Amendment #2. The measure was defeated.

2014

CPS makes full  required pension payment of ($612.5 million) to CTPF. This is the first time since 2010 that CTPF received a full payment.

2015

CPS payment due to CTPF by June 30, 2015.