Bill Text: IL HR0079 | 2025-2026 | 104th General Assembly | Introduced

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Bill Title: Congratulates the Chicago Teachers' Pension Fund (CTPF) on its 130th anniversary. Thanks the organization for serving its members, constituents, community, profession, and the citizens of Illinois with distinction. Wishes the organization continued success for decades to come.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Passed) 2025-01-29 - Resolution Adopted [HR0079 Detail]

Download: Illinois-2025-HR0079-Introduced.html

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HR0079 LRB104 10091 LAW 20163 r
HOUSE RESOLUTION
WHEREAS, The members of the Illinois House of
Representatives wish to congratulate the Chicago Teachers'
Pension Fund (CTPF) on the occasion of its 130th anniversary;
and
WHEREAS, The Illinois legislature established the Public
School Teachers' Pension and Retirement Fund of Chicago (the
Fund), the first teachers' pension system in Illinois and the
second in the nation, in order to help attract and retain
professional teachers and to ensure the financial stability
and dignity of teachers in retirement, with this pension
system being enacted on July 1, 1895; and
WHEREAS, Under the governance of the Chicago Board of
Education, the Fund struggled with funding in its early days
and had difficulty in developing a sustainable model that
would provide long-term financial security for its members;
and
WHEREAS, The Fund's financial crisis became an issue of
social justice taken up by activist and reformer Jane Addams,
known as the "mother" of social work, who was elected as
president of the Pension Board on August 30, 1905, and
subsequently, she pushed for pension reform in the Illinois

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legislature; and
WHEREAS, Under Addams' guidance, improvements were
initiated through the enactment of the pension reform law of
1907, setting the groundwork for stabilization and granting
teachers control over governance by establishing an
independent governing board that included six active teacher
representatives; and
WHEREAS, CTPF has operated as an independent organization,
governed by the board of trustees and administered by an
executive director who oversees the operation of the Fund and
assures that benefits continue to be paid out on a timely
basis; and
WHEREAS, For the past 130 years, CTPF has weathered the
historic events that have challenged our nation, including
wars, conflicts, economic depressions, and recessions; and
WHEREAS, The Fund's first investment of $16,000 was wisely
invested, and today, it includes more than $12 billion in
diversified assets and pays more than $1.5 billion annually in
benefits to CTPF members, thereby generating important
economic activity for the State of Illinois; and
WHEREAS, CTPF trustees have set sound and responsible

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investment policies, and these policies have guided the Fund
to achieve a long-term, 35-year rate of return of 8.34%,
exceeding the Fund's target of 6.5%; and
WHEREAS, CTPF is at the forefront among pension and
retirement systems throughout the United States in providing
business opportunities with the Fund for Minorities, Women,
and Disadvantaged-Owned Business Enterprises (MWDBE),
investing $6.5 billion of the Fund's total assets, or 51.9%
with MWDBE firms; and
WHEREAS, CTPF's excellent and transparent financial
stewardship of public funds has been consistently recognized
by the Government Finance Officers Association of the United
States and Canada (GFOA), being awarded its prestigious
Certificate of Achievement for Excellence in Financial
Reporting for many years; and
WHEREAS, The Fund's membership has grown from 8,000
initial members to more than 96,000 total members, including
nearly 33,000 active members and 27,350 annuitants who count
on it as their primary source of financial security; and
WHEREAS, CTPF trustees continue to work to safeguard and
secure benefits for their members, and together, with a
dedicated staff, continue to fulfill the organization's stated

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mission 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
its participants through quality service and by protecting
retirement benefits, in compliance with applicable laws and
standards; and
WHEREAS, CTPF's 130th anniversary serves as an opportunity
to reflect on the achievements of the Fund and the educators it
serves, while also looking forward to the future of education
and the importance of sustainable pension systems; therefore,
be it
RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE ONE
HUNDRED FOURTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
we congratulate the Chicago Teachers' Pension Fund (CTPF) on
its 130th anniversary, thank the organization for serving its
members, constituents, community, profession, and the citizens
of Illinois with distinction, and wish the organization
continued success for decades to come; and be it further
RESOLVED, That a suitable copy of this resolution be
presented to the CTPF Board of Trustees as an expression of our
esteem and respect.