What is a Fiduciary?

Pension Advocacy Group decided this was a perfect time to start the educational series. The objective is to develop members' knowledge of Defined Benefit Plans and how to protect and restore them.

 Lesson 1: What is a fiduciary?  In the simplest of terms, a fiduciary is someone who must put the best interest of the person they are representing ahead of their own.

Election materials will be mailed and online voting becomes available for the 2024 Teacher Trustee Election. Voting closes on November 1, 2024, at 5:00 p.m. (CT). 

Chicago Teachers' Pension (CTPF) members will have the opportunity to select two from a field of five.

PAG’s strategy to educate, engage, and empower members was met with a bumpy start when the conversation took an unfortunate turn when the meeting was hacked. PAG addressed the situation to the best of their ability and after resuming the Zoom meeting continued with the agenda. Thank you to our PAG nonprofit consultant Lili Molina a board member for helping us with the other imposters.   

 During the virtual meeting on Friday, October 11, 2024. Maria Blancas, PAG's Production Director introduced the panelist. Ray Wohl is a former CTPF Trustee and president of the PAG board.  Julie McShane is the legislation Director and an active CPS teacher. Dawn McGrath, a former CPS teacher is the Business Director.  Panelists introduced themselves and shared how they defined or understood the role of a fiduciary.  Tina Padilla was able to obtain the visitor link to the CTU candidates forum used her knowledge of a fiduciary and created a rubric to score all the candidates and shared her scores.  

 Next on the agenda was the discussion around Pension legislation. PAG is engaging in initiatives aimed at repealing Tier 2 such as  AFL-CIO Fix Tier 2, Undo Tier 2 Illinois Education Association, and IFT Fix Tier 2. Dawn McGrath lead the discussion on how to support all trustees, especially our woman trustees. 

 Several candidates joined the meeting but left before the candidate Q&A portion began.  Lucky for us, Trustee Washington joined at the right time and reflected on his 3 years on the board. We were also able to use the last few minutes to discuss HB 4098 and how we believe this bill might impact the fund. 

 We trust that good intentions yield good practice and can drastically reduce or eliminate harm. My scored rubric of the candidates and notes from my retiree delegate George Milkowski are attached. 

Learn more at ctpf.org/election-central.  

 file:///C:/Users/tpadilla/Downloads/HoD-2024%20-10-08%20(1).pdf