Hello Pension Warriors,
I don’t see any CTU leadership election Forum on the
CTU calendar or the Lobby Days. Here are the questions you might want to use
for the CTU leadership at HOD on April 30, 2025.
Misleading statements
often used by those opposed to our pension include, “CTPF administers benefits,
but only the state legislature has the power to change Tier 2 law.”
The trustees of the
Chicago Teachers' Pension Fund (CTPF), as fiduciaries, play a crucial role in
governing the fund. CTPF has a Pension Law and Administrative Rules Committee
that initiates legislative changes affecting fund benefits and operations. This
fiduciary duty requires them to act with the highest standards of ethics and
morality to preserve the fund’s fiscal integrity and financial stability.
Given this, why
hasn’t the Chicago Teachers Union (CTU) leadership collaborated with our
trustees to exercise their fiduciary power and initiate legislative changes to
repeal Tier 2?
Previously, the CTU Tier 2 committee supported
legislation such as HB4098, which included provisions that further reduced the
funding ratio. The courts have already established that our pensions must not
be diminished or impaired.
Can the CTU committee come up with a
resolution to repeal tier 2?
When will CTU start educating its members
about a defined benefit plan and how to restore it?
Why wasn’t there language to repeal the
Tier 2 Pension in the TA?
When will we have a full 12-member board
of trustees? We currently have only 10 members; the two missing appointments
are from CPS.
I recognize
that for any new law to be successful, it must be workable, fair, and clear.
Unfortunately, this was not the case when the leaders of that time chose to
divert our deferred wages, specifically from our defined benefits pension plan,
for their purposes. While this decision is widely known, it is also deeply
deceptive. Who can truly label diverting retirement savings as a “holiday”?
Would legislators and all stakeholders consent to the beginning of the
dismantling of our pension statute if they had accurate and reliable
information? Would this legislation have passed if those behind the scheme had
to rely on the approval of the people whose retirement savings they intended to
use to finance their political projects?
We need to stop focusing solely on costs and begin by
repealing Tier 2, fully restoring the original statute, and rebuilding the
pension from the inside out. This issue transcends mere numbers; misleading
terminology has confused many. Our lawmakers, along with everyone who supported
that law, recognize that it did not comply with the fundamental safe harbor
rule. Furthermore, they understand the negative impact it has had on recruiting
and retaining educators, as well as the overall sustainability of great public
education.
I’m also including Julie's overview and the article.
https://docs.google.com/
2. The Tier 2 Fact Sheet
3. A form letter and Governor Pritzker’s voice on an opinion site.
https://gov.illinois.gov/
I hope this information proves helpful. Please express our gratitude to the governor for his efforts in protecting defined benefit plans.
Thank you,
Tina Padilla
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