Statement of Candidacy

Education

• Bachelors in Psychology, University of Illinois, Champaign/Urbana
• Masters in Social Work, Loyola University Chicago
• Masters in Educational Leadership, National Louis University Chicago

Greetings CTPF Members, I am Philip Weiss, and I’m seeking your support for re-election as Active Teacher Trustee for the Chicago Teachers Pension Fund.  With my proven track record of dedicated service and commitment to our fund’s health and growth, I am eager to continue advocating for our interests.  Your vote will help ensure that our pension fund remains strong and that our members needs are always prioritized.  

My Belief: “A Pension is a Promise, a Promise that must Never be broken!”  

I have over 25 years of dedicated service to Chicago Public Schools, and am deeply rooted in the CPS community.  I also have obtained two masters degrees and six professional licenses. 

My commitment to CPS and education runs in the family, and is very personal.  My parents were both CPS teachers, as is my wife.  Together, we have close to 100 years of service.  Our two children attend CPS schools.  As a proud member of CTU Local One, my family and I stand united in advocating for the protections of our pension.  The security of our retirement benefits is crucial not only to me, but for the well-being of my family and friends.

My Goal: “Retire with the Dignity and Respect that Members rightfully earned!”

Let’s talk about our great city Chicago - the Windy City, the nickname isn’t just about the blustering weather; it also reflects the hot air of politicians who talk a lot but deliver little.  The consequence of this damaging rhetoric is clear:  Rising liabilities, shrinking assets and a parking meter system now controlled by investment firms, all while we struggle to keep the lights on and pay our bills.  The city’s debt is extensive and troubling.  Current politicians sadly deflect blame on to their predecessors, without offering real solutions. The results?  A sea of red ink and a pension fund that is less than half funded- a distressing reality.

Why should you vote for me? As a former trustee and investment chair, I consistently demonstrated my commitment to effective governance and focused on generating strong investment returns. 

Outside of my profession, as a clinical social worker for our students, I am a successful personal investor. That success has spanned stocks, bonds, real estate, commodities, and venture capital markets. 

I also believe I have honed my skills into a seasoned institutional investor. At CTPF, I prioritize strong oversight, explored new investment opportunities and refined CTPF’s portfolio to maximize returns.  We were able to achieve results, all while adhering to our rigorous due diligence processes and exceeded the industry fiduciary standards. Under my watch, as the investment chair, our team delivered noteworthy financial performance. During the FY2021, we achieved a remarkable 28% return on our investments, well above our 6.5% assumptive rate. My recommendations were consistently well received and accepted by the board, which resulted in profits.

My mission has always been clear: 

Grow our wealth and put it in members’ pockets, period!  

During my tenure, I advocated for a comprehensive review of our investment strategy, which led to the development of a model investment portfolio.  Despite my departure in 2023, this plan is in process of being implemented. 

However, some members on the current board are now challenging this sound financial model.  Those challenges appear to be driven by political motives, rather than disciplined financial principles or following our industry watchlist standards. This political interference threatens both the Fund’s performance and our members’ interests, exposing us all to unnecessary risks. 

Quite frankly, I am running because my desire to provide a dignified retirement for our members, runs deeper than others political ambition to control and allocate resources consistent with their political interests. I am worried that CORE will make us all POOR. I will fight this unacceptable political influence, restore the Fund to our values and standards, and prioritize the needs of the membership.

It pains me to see our members worry about their financial future amidst rising inflation and decreasing purchasing power. The time to act is now, and the opportunity for substantial gain should belong to you.  I urge you to prioritize your financial security by placing your trust in me, as a true fiduciary.

Please vote for me, Phil Weiss, 2024 Teacher Trustee.  Remember, “Your pension is a promise- a promise that must never be broken.” Let’s ensure that no politician ever jeopardizes our Fund again, and that you receive the retirement that you’ve rightfully earned, for the rest of your life.           

Disclaimer: CTPF is not responsible for the content of this material and has not verified any of the information.