August 12, 2015

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SB 318 UPDATE

CTPF Executive Director
Charles A. Burbridge testifying in Springfield during an Illinois House Executive Committee hearing on August 12, 2015. Burbridge articulated CTPF's opposition to SB 318.

Earlier today, August 12, 2015, the Illinois House Executive Committee held a hearing on Senate Bill 318. CTPF Executive Director Charles A. Burbridge testified at the hearing in Springfield. Burbridge stated the Fund's opposition to the pension "holiday" in the bill, and highlighting the need for an amended bill which fully funds pensions for CTPF.

The Committee did not take action on the bill.

"I want to thank our members for the tremendous effort they made to contact legislators and the Executive Committee members to oppose this bill. The Committee delayed a vote and called for additional hearings, partially in response to the calls and e-mails made by our membership who opposed SB 318 and the pension "holiday" it included. Our members' response really made a difference."

CTPF will continue to monitor this legislation and will keep members informed on the status of the bill. Please see the call to action below.

ACT NOW: Oppose SB 318

Please reach out to your State Representative and ask them to VOTE NO/PRESENT on SB 318. CTPF opposes this legislation which underfunds pensions. CTPF cannot afford another pension "holiday."

Click here to send a message from CTPF's Legislative Action Center.

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CTPF MISSION STATEMENT
To provide, protect, and enhance the present and future economic well being of members, pensioners and beneficiaries through efficient and effective management of benefit programs, investment practices and customer service, and to commit to earning and keeping the respect and trust of the participants through quality service and by protecting retirement benefits, in compliance with applicable laws and standards.

CTPF BOARD OF TRUSTEES

Jay C. Rehak, president

Lois W. Ashford, vice president

Bernie Eshoo, financial secretary

Raymond Wohl, recording secretary

Jeffery Blackwell

Robert F. Bures

Tina Padilla

Mary Sharon Reilly

Walter E. Pilditch

Jerry Travlos

Charles A. Burbridge, executive director

Office/Mailing Information

Chicago Teachers' Pension Fund
203 North LaSalle Street, suite 2600
Chicago, Illinois 60601-1231
312.641.4464 p.
312.641.7185 f.