Welcome!

News Feed Item

Chicago Teachers' Pension Fund Reports Strong Investment Returns for 2014 Fiscal Year

- CTPF holds more than $10 billion in assets as of June 30, 2014 -

CHICAGO, Aug. 14, 2014 /PRNewswire/ -- The Chicago Teachers' Pension Fund (CTPF) reports a preliminary return on investments of 18.35 percent at the close of the fiscal year on June 30, 2014 – more than double the plan's assumed rate of return of 7.75 percent.

As a long-term investor, the plan's investment returns are more significant over longer periods. Over the past 35 years, the plan's compound rate of return has been 9.13 percent, which is 17.8 percent more than the plan's assumed rate of return.

CTPF currently holds approximately $10.8 billion in assets on behalf of its 63,000 active and retired educators. This is a more than 11 percent increase from $9.7 billion as of June 30, 2013.

"CTPF is a well-managed plan, and our 2014 performance demonstrates the success of our long-term strategy to manage a diverse portfolio with sound investments," said Jay C. Rehak, CTPF interim executive director and president of the board of trustees. "Our strong market performance is good news for our members and taxpayers who support our plan."

CTPF is a public employee retirement system established by the state of Illinois to provide annuity, disability, survivor, death and health benefits for certain certified teachers and other employees of the Chicago Public Schools (CPS) and approved city of Chicago charter schools. As fiduciaries to the Fund, the board of trustees has approved an asset allocation with policy targets designed to obtain the highest return on investments consistent with an appropriate level of risk for a large public employee retirement system.

CTPF maintains a highly diversified portfolio of investments, which includes global equities (public and private), global fixed income, real estate (public and private) and other real assets.  This asset allocation provides risk-adjusted returns while allowing the plan to "ride out" short-term fluctuations in individual asset classes.

CTPF receives funding from three major sources: its primary employer (CPS), employees and investment returns. The state of Illinois also contributes.

"These strong investment returns contribute to CTPF's improving financial picture. Even though the markets have been very volatile over the last few years, our diverse and long-term focused portfolio has helped us recover from the precipitous market fall and global financial crisis," said Rehak. "In June, CPS resumed making its full required payment, and earlier in the year, the state of Illinois restored its modest funding to CTPF. We appreciate the support from our employer and the state and will continue our responsible investment strategy to increase the financial stability of the plan."

CTPF's pension payments to retirees support the Illinois economy. Eighty-four percent of CTPF's 26,000 retirees stay in Illinois, and 50 percent of these beneficiaries live in Chicago. In 2013, CTPF distributed more than $1.07 billion to retirees in Illinois – including $548 million in Chicago alone. These pension payments have helped create more than 11,655 jobs in Illinois – including nearly 6,000 jobs in Chicago.

Despite CTPF's strong investment returns, the plan has suffered from lack of contributions from its employer and the state of Illinois. Its funding ratio is currently 49.5 percent.

ABOUT CTPF
Established by the Illinois state legislature in 1895, the Chicago Teachers' Pension Fund manages members' assets and administers benefits. The $9.7 billion pension fund serves approximately 63,000 active and retired educators, and provides pension and health insurance benefits to more than 26,000 beneficiaries.

SOURCE Chicago Teachers' Pension Fund (CTPF)

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"We are a monitoring company. We work with Salesforce, BBC, and quite a few other big logos. We basically provide monitoring for them, structure for their cloud services and we fit into the DevOps world" explained David Gildeh, Co-founder and CEO of Outlyer, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
The Internet giants are fully embracing AI. All the services they offer to their customers are aimed at drawing a map of the world with the data they get. The AIs from these companies are used to build disruptive approaches that cannot be used by established enterprises, which are threatened by these disruptions. However, most leaders underestimate the effect this will have on their businesses. In his session at 21st Cloud Expo, Rene Buest, Director Market Research & Technology Evangelism at Ara...
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assista...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
"Loom is applying artificial intelligence and machine learning into the entire log analysis process, from start to finish and at the end you will get a human touch,” explained Sabo Taylor Diab, Vice President, Marketing at Loom Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is ...
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists loo...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
"MobiDev is a Ukraine-based software development company. We do mobile development, and we're specialists in that. But we do full stack software development for entrepreneurs, for emerging companies, and for enterprise ventures," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, paneli...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.