Illinois SR 82: CONGRATS-CTPF

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SR0082LRB104 10095 LAW 20167 r

1SENATE RESOLUTION

2 WHEREAS, The members of the Illinois Senate wish to 

3congratulate the Chicago Teachers' Pension Fund (CTPF) on the 

4occasion of its 130th anniversary; and

5 WHEREAS, The Illinois legislature established the Public 

6School Teachers' Pension and Retirement Fund of Chicago (the 

7Fund), the first teachers' pension system in Illinois and the 

8second in the nation, in order to help attract and retain 

9professional teachers and to ensure the financial stability 

10and dignity of teachers in retirement, with this pension 

11system being enacted on July 1, 1895; and

12 WHEREAS, Under the governance of the Chicago Board of 

13Education, the Fund struggled with funding in its early days 

14and had difficulty in developing a sustainable model that 

15would provide long-term financial security for its members; 

16and

17 WHEREAS, The Fund's financial crisis became an issue of 

18social justice taken up by activist and reformer Jane Addams, 

19known as the "mother" of social work, who was elected as 

20president of the Pension Board on August 30, 1905, and 

21subsequently, she pushed for pension reform in the Illinois 

22legislature; and

SR0082- 2 -LRB104 10095 LAW 20167 r

1 WHEREAS, Under Addams' guidance, improvements were 

2initiated through the enactment of the pension reform law of 

31907, setting the groundwork for stabilization and granting 

4teachers control over governance by establishing an 

5independent governing board that included six active teacher 

6representatives; and

7 WHEREAS, CTPF has operated as an independent organization, 

8governed by the board of trustees and administered by an 

9executive director who oversees the operation of the Fu