April 4, 2017, CTPF Executive Director Charles A. Burbridge traveled to Springfield to testify before the House Appropriations-Elementary & Secondary Education Committee during a subject matter hearing which included House Bill 2948. The bill, sponsored by Representative William Davis (D- East Hazel Crest), Committee Chair, addresses the issue of State of Illinois pension parity for CTPF.
[image:434, image right]CTPF supports the measure which requires the State of Illinois to make a $465 million contribution to CTPF in fiscal year 2018, and then make annual contributions equal to 10% of the State revenue provided to the downstate teachers’ retirement system.
“House Bill 2938 addresses a long-standing inequity in funding and restores State revenue long-promised to CTPF,” said Burbridge. “CTPF represents about 17% of the active and retired teachers in our state, but we receive less than 1% of the pension funding dollars allocated by the State. It’s time to address this issue, and we appreciate the time and attention this committee took to understand this inequity.”