“Education funding reform is a must for our state and pension
parity is one important avenue for achieving this goal.”

On Thursday, December 1, Gov. Bruce Rauner vetoed a bill that
would appropriate $215.2M to the Chicago Teachers’ Pension Fund
for FY 2017. The Illinois Senate immediately moved to override
the veto by a vote of 36-16. The House has up to 15 days to pass
the funding bill that will support Chicago’s students and
teachers.

As Executive Director of your pension fund, I can assure you that
yesterday’s decision will not impact anyone who is receiving a
pension. I can also assure you that the Fund will continue to
advocate for legislative changes that bring state funding of
pensions into parity. By not receiving equal funding support for
Chicago teachers’ pensions, the State is taking valuable
education resources away from Chicago’s students. As educators,
retired and active, we know the impact that this decision will
have on our children.

We believe tethering required education resources to unspecified
changes that have historically been difficult to find agreement
on can only result in hurting students. Education funding reform
is a must for our state and pension parity is one important
avenue for achieving this goal.

As disappointed as we are by the veto, we are encouraged by the
number of legislators who are giving voice to this critical
issue. We will continue to work closely with Springfield to help
ensure these and other important issues receive the attention
they require for real change to happen.

Finally, we thank you for the support you’ve shown for the Fund
as we work to secure your retirement benefits.

Charles A. Burbridge
Executive Director