CORE

CPS and state legislators have already attacked teacher pensions and will launch a full assault soon in Springfield. All CPS employees must fight to protect our retirement and our future! Current CTPF Teacher Trustees have been subservient to the Board and state reps – it’s time to replace them with strong leadership that will FIGHT!

An election for two Teacher Trustees of the Chicago Teachers Pension Fund (CTPF) will take place on October 30, 2009. Six of the twelve Pension Board positions are reserved for teacher trustees. Teachers elected in October will serve a three-year term from November 2009 – November 2012.

CORE wholeheartedly endorses CTPF Teacher Trustee candidates, veteran teachers, and active Union members Jay Rehak and Lois Ashford.

Mr. Rehak’s brief bio can be found below and on our CTPF election page.

Jay Rehak pledges to be an independent and unbiased monitor providing honest review, careful monitoring and tireless protection.

Jay Rehak: As a Teacher Trustee, I understand my role to be both clear and well defined: to provide honest review, careful monitoring and tireless protection of our collective pension assets.

As one of the six Teacher Trustees of the twelve person Chicago Teachers’ Pension Fund (CTPF), I will work to ensure that the security and sanctity of the assets of the fund (currently approximately 8 Billion dollars) is carefully safeguarded. I recognize that as a Teacher Trustee, I have a fiduciary responsibility to my fellow teachers, to protect their pension money not only for them, but also for their families. This is especially important in these uncertain economic times.

Specifically, my role as Teacher Trustee is as an independent and unbiased monitor of the (approximate) 70 professional fund managers who currently invest our collective assets. Through honest review of the financial performance of these professional money people, I will endeavor to ensure that the Chicago Teachers Pension Fund maximizes returns on its investments. With the other Trustees, I will work to ensure our professional fund managers are diverse not only in the investment strategies they employ, but also within their own composition.

As Teacher Trustee, I recognize my single most important responsibility is the protection of our collective retirement assets. I recognize that my allegiance is to no particular group, but rather to every single teacher within the Chicago Public School system. As Trustee, I will not allow the State of Illinois, the Chicago Public Schools, or any other entity to “raid,” shortchange, or in any way “borrow” the assets of the Chicago Teachers’ Pension Fund. As Teacher Trustee, I will protect the financial assets we teachers have earned and will earn throughout our professional lives.

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