CHICAGO – April 29, 2019 – The Chicago Teachers’ Pension Fund (CTPF) today announced the release of its 2019 Economic Impact Statement. CTPF made $1.4 billion in direct payments to annuitants living in Illinois in 2018. Those payments had a $2.0 billion impact on the Illinois economy, supporting 15,000 jobs in the State. The Buck Stays Here: Understanding the Economic Impact of CTPF Benefit Payments on the State of Illinois and the City of Chicago is produced annually. The report documents the number of CTPF members, the pensions they receive, and the economic impact and jobs supported by their pensions in each Illinois legislative district and City of Chicago ward.
Eighty four percent of CTPF’s annuitants who collect a pension stay in the State of Illinois, with nearly half of that number continuing to call Chicago home. CTPF annuitants residing in Chicago are responsible for approximately $1.0 billion in total economic impact and support 7,640 jobs across the city.