During their meeting on January 16, 2025, the CTPF Board of Trustees adopted a resolution honoring the 130th anniversary of CTPF. 

"As we acknowledge this milestone year, we want to express our profound gratitude to the dedicated educators whose tireless efforts have impacted countless students over the decades," stated Executive Director Carlton W. Lenoir, Sr. "We extend our appreciation to everyone who has contributed to the growth, governance, and success of the Fund throughout its 130-year history." 

Established on July 1, 1895, by the Illinois General Assembly, CTPF was created to attract and retain professional teachers by ensuring their financial stability in retirement. For 130 years, the Fund has provided retirement security for Chicago’s educators. Governed by the Board of Trustees, the Fund has navigated historic events, including wars and economic downturns, with sound investment policies and transparent operations. 

The 130th anniversary is a time to reflect on the Fund's achievements and its impact on educators while looking ahead to the future of education and sustainable pensions. The resolution honors CTPF’s service to Chicago’s educators and recognizes its significant impact on members past, present, and future. 

The resolution reads as follows:

Resolution Honoring the 130th Year of Continuous Operations at the Public School Teachers’ Pension and Retirement Fund of Chicago today known as The Chicago Teachers’ Pension Fund

WHEREAS, the Illinois legislature effective July 1, 1895, established the first teachers’ pension system in Illinois and the second in the nation in order to help attract and retain professional teachers and to ensure the financial stability and dignity of teachers in retirement; and

WHEREAS, under the governance of the Chicago Board of Education the Fund struggled in its early days with funding issues and had difficulty developing a sustainable model which would provide long-term financial security for its members; and

WHEREAS, the financial crisis in the pension fund became an issue of social justice taken up by activist and reformer Jane Addams, known as the “mother” of social work who was elected to the Pension Board as President on August 30, 1905, and subsequently pushed for pension reform in the Illinois legislature; and

WHEREAS, under the guidance of Addams, the pension reform law of 1907 enacted reforms which set the groundwork for stabilization and granted teachers control over governance by establishing an independent governing board with representation that included 6 active Teacher representatives; and 

WHEREAS, CTPF has operated as an independent organization, governed by the Board of Trustees and administered by an Executive Director who oversees the operation of the Fund and assures that benefits continue to be paid out on a timely basis; and

WHEREAS, for the past 130 years CTPF has weathered the historic events that have challenged our nation including wars, conflicts, economic depressions, and recessions; and 

WHEREAS, the Fund’s first investment of $16,000 has been wisely invested and today includes more than $12 billion in diversified assets and pays more than $1.5 billion annually in benefits for CTPF members, which generate important economic activity for the State of Illinois; and

WHEREAS, the CTPF Trustees have set sound and responsible investment policies and these policies have guided the Fund to achieve a long-term, 35-year rate of return of 8.34%, exceeding the Fund’s target of 6.5%; and 

WHEREAS, CTPF is at the forefront among pension and retirement systems throughout the United States in providing opportunities for Minorities, Women, and Persons with Disabilities-owned business enterprises (MWDBE) to do business with the Fund, investing $6.5 billion of the Fund’s total assets, 51.9% with MWDBE firms; and

WHEREAS, CTPF’s excellent and transparent financial stewardship of public funds has been consistently recognized by the Government Finance Officers Association of the United States and Canada (GFOA) with the awarding of a prestigious Certificate of Achievement for Excellence in Financial Reporting for many years; and

WHEREAS, the Fund’s membership has grown from 8,000 initial members to more than 96,000 total members including nearly 33,000 active and 27,350 annuitants who count on the fund as their primary source of financial security; and

WHEREAS,, the Trustees continue to work to safeguard and secure benefits for its members, and together, with a dedicated staff, continue to fulfill their stated mission: 

“To provide, protect and enhance the present and future economic well being of members, pensioners and beneficiaries through efficient and effective management of benefit programs, investment practices and customer service, and to commit to earning and keeping the respect and trust of the participants through quality service and by protecting retirement benefits, in compliance with applicable laws and standards,” and

WHEREAS, the 130th anniversary serves as an opportunity to reflect on the achievements of the Fund and the educators it serves, while also looking forward to the future of education and the importance of sustainable pension systems.

THEREFORE, in acknowledgement of its 130th year of continuous operations, the Public School Teachers’ Pension and Retirement Fund of Chicago hereby resolves, as follows:

1. The Chicago Teachers’ Pension Fund has served its members, constituents, community, profession, and citizens of Illinois with distinction for the past 130 years. 
2.  That the Chicago Teachers’ Pension Fund continues to meet the goals upon which it was founded, providing a vehicle to attract and retain teachers and offering financial stability and dignified retirements for members. 
3. That the members of the Chicago Teachers’ Pension Fund deserve recognition and support for their important work during the past 130 years, and look forward to continuing this work for decades to come.

The resolution can be viewed here.