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| | HR0816 | | LRB098 16987 EFG 52069 r |
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| 1 | | HOUSE RESOLUTION
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| 2 | | WHEREAS, The Chicago Teachers' Pension Fund serves 18% of |
| 3 | | the teachers in Illinois but receives less than 1% of State |
| 4 | | funding for teachers pensions; and
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| 5 | | WHEREAS, For every dollar allocated to downstate and |
| 6 | | suburban pensions, Chicago teachers receive less than a penny; |
| 7 | | and
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| 8 | | WHEREAS, Chicago's taxpayers bear a double burden, funding |
| 9 | | the Teachers' Retirement System of Illinois and its own system, |
| 10 | | the Chicago Teachers' Pension Fund, without equal benefit; and
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| 11 | | WHEREAS, Pursuant to Public Act 89-0015, the Illinois |
| 12 | | General Assembly agreed that each fiscal year it would make a |
| 13 | | contribution to the Chicago Teachers' Pension Fund in an amount |
| 14 | | equal to 20-30% of the contribution the State makes in that |
| 15 | | fiscal year to the Teachers' Retirement System of Illinois; and
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| 16 | | WHEREAS, In an attempt to mitigate the potential for |
| 17 | | underfunding the Chicago Teachers' Pension Fund in the future, |
| 18 | | Public Act 89-0015 required the State to use its best efforts |
| 19 | | to make enhanced contributions to the Chicago Teachers' Pension |
| 20 | | Fund when its funded ratio dropped below 90%; and
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| | HR0816 | - 2 - | LRB098 16987 EFG 52069 r |
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| 1 | | WHEREAS, The Chicago Teachers' Pension Fund Board of |
| 2 | | Trustees, which is comprised of contributors, annuitants, |
| 3 | | administrators, and Board of Education appointees who serve in |
| 4 | | a fiduciary capacity on the board, supports enhanced funding |
| 5 | | for the Chicago Teachers' Pension Fund; and
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| 6 | | WHEREAS, Jay Rehak, Lois Ashford, Raymond Wohl, Jeffrey |
| 7 | | Blackwell, Tina Padilla, Bernie Eshoo, Walter Pilditch, Mary |
| 8 | | Sharon Reilly, Robert Bures, Jerry Travlos, Dr. Carols |
| 9 | | Azcoitia, and Andrea Zopp support full funding for the Chicago |
| 10 | | Teachers' Pension Fund and urge the State of Illinois to |
| 11 | | fulfill its promise to fund pensions for Chicago teachers; |
| 12 | | therefore, be it
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| 13 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE |
| 14 | | NINETY-EIGHTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that |
| 15 | | it is the sense of this House that the Illinois General |
| 16 | | Assembly must make annual contributions to the Chicago |
| 17 | | Teachers' Pension Fund in an amount equal to 20-30% of the |
| 18 | | amount of the annual State contribution to the Teachers' |
| 19 | | Retirement System of Illinois.
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