January 24, 2019 - The Chicago Teachers’ Pension Fund (CTPF) Board of Trustees has released its 2018 Comprehensive Annual Financial Report (CAFR) which includes the Fund’s audited financial statements, management’s analysis, statistics, and other financial information. The CAFR is prepared by staff, reviewed by CTPF’s independent auditor, and includes detailed investment, actuarial, and statistical information about CTPF’s financial condition and operations for the fiscal year ended June 30, 2018.
Fiscal Year 2018 Highlights
Highlights from the 2018 report include:
- Investment returns continue to outperform benchmarks, similar to the previous fiscal year. The investment rate of return for fiscal year 2018 was 9.0% (benchmark of 8.4%) following fiscal year 2017’s return of 13.6% and fiscal year 2016’s return of 0.5%. Five and ten-year annualized returns were 8.8% (benchmark of 8.2%) and 6.7% (benchmark of 6.4%), respectively.
- Total assets increased during the fiscal year to $11.1 billion at June 30, 2018, from $10.8 billion at June 30, 2017.
- CTPF paid members $1.5 billion in service retirement, disability, refunds, and survivor benefits, and an additional $66.3 million for health care benefits.
- Total additions to plan assets were $1.9 billion for fiscal year 2018, including total contributions of $968.1 million and net investment income of $896.7 million.
- The funded ratio for pension benefits, based on the market value of assets, decreased to 48.44% as of June 30, 2018, from 49.46% at the end of fiscal year 2017.