Board of Trustees
The Chicago Teachers’ Pension Fund (CTPF) is governed by a 12-member Board of Trustees. Trustees include six trustees elected by the active teacher membership, one trustee elected by the active principals and administrators, three trustees elected by the retired membership, and two trustees appointed by the Board of Education.
Illinois statutes provide for a Board of Trustees to be responsible for the administration of CTPF. The Board of Trustees appoints the Executive Director to operate CTPF, and the Board and the Executive Director hire and monitor independent advisors to facilitate the operations of CTPF. Advisors include investment managers, investment consultants, a master custodian, a CTPF actuary, independent certified public accountants, a CTPF attorney, and other operational consultants.
The Board’s responsibilities include approving CTPF’s administrative budget, authorizing benefit payments, selecting investment professionals, initiating legislative changes affecting Fund benefits and operations, adopting actuarial assumptions, and appointing the CTPF actuary and legal counsel.
General Board Goals
General goals put in place to help achieve the Board’s mission include:
- Achieve customer service excellence
- Preserve fiscal integrity and financial stability of CTPF
- Conduct all phases of operation under the highest standards of ethics and morality
- Improve the quality of CTPF personnel by employing the most careful method of selection, training, and promotion
- Regularly inform CTPF members, pensioners, and beneficiaries regarding CTPF’s plans and progress toward its overall mission