2020 BUCK STAYS THE HERE EDUCATION & ADVOCACY INITIATIVE

Understanding the economic impact of CTPF benefit payments on the State of and the City of

11895 2020 EXECUTIVE SUMMARY

PURPOSE OF REPORT This report examines the impact that Chicago Teachers’ Pension Fund (CTPF) educators have outside the classroom, and the economic benefit pensions have on CTPF Pensions“ help the City of Chicago and the State of Illinois. support 13,133 jobs A study was conducted which examined CTPF members and the impact their benefit payments have on the Illinois economy. Information from this study in the State of Illinois is shown for legislators in the State of Illinois along with Aldermen in the City of Chicago. The second half of this report includes a summary of additional including 6,651 in information about CTPF.

the City of Chicago. RESULTS Pensions are an efficient vehicle for providing retirement security. The National Institute on Retirement Security estimates that a pension plan can provide benefits at about half the cost associated with a 401(k) plan. ” CTPF benefit payments contribute: • $1.4 billion in direct payments to annuitants in the State of Illinois • $1.9 billion in total economic impact in the State of Illinois • $708 million in payments to annuitants in the City of Chicago • $1.0 billion in total economic impact on the City of Chicago Pension benefit payments and their ripple effect help support jobs including: • 13,133 jobs in the State of Illinois CTPF BOARD OF TRUSTEES • 6,651 jobs in the City of Chicago Jeffery Blackwell President CONCLUSIONS Mary Sharon Reilly CTPF educators make an immeasurable impact on children: educating, nurturing, and helping them grow into productive citizens and future leaders. An educator’s Vice President impact extends far beyond the classroom – active and retired educators are also Gregory Redfeairn consumers, taxpayers, and voters – who live and work primarily in Chicago and Financial Secretary surrounding communities. CTPF pension payments create a positive impact on the Illinois economy. Jacquelyn Price Ward Recording Secretary RECOMMENDATIONS James Cavallero We call upon the legislators of the State of Illinois and Aldermen in the City Gervaise Clay of Chicago to examine the facts about pensions and to understand that CTPF annuitants value their benefits – but more importantly – spend their benefits close to home. Tina Padilla Lois Nelson Maria J. Rodriguez Jerry Travlos Dwayne Truss TERMS Active Member: individual who is currently paying into CTPF. Inactive Member: individual who has contributions on deposit with CTPF, but is not currently paying into the system. Annuitant: member who receives a retirement, survivor, or disability benefit from CTPF. Charles A. Burbridge Undetermined: Illinois member for whom the legislative district or ward was undetermined. Executive Director

Sources: Bureau of Economic Analysis, United States Department of Commerce. 2 As of May 1, 2020 CTPF data on file as of January 1, 2020. CTPF MEMBERS BY DISTRICT

Jobs Active and Total Annual Total Economic Illinois State Total Supported District Inactive Annuitants Payments to Impact of Senator Members by Benefit Members Annuitants Benefit Payments Payments

1 Antonio Muñoz (D) 2,051 213 2,264 $ 11,590,682 $ 16,418,200 109

2 Omar Aquino (D) 2,790 270 3,060 14,171,952 20,074,570 133

3 Mattie Hunter (D) 1,833 608 2,441 35,584,914 50,406,031 334

4 Kimberly A. Lightford (D) 981 712 1,693 42,206,813 59,785,950 397

5 Patricia Van Pelt (D) 2,169 304 2,473 16,050,549 22,735,603 151

6 Sara Feigenholtz (D) 4,024 636 4,660 36,089,732 51,121,106 339

7 Heather A. Steans (D) 3,298 732 4,030 38,986,118 55,223,837 366

8 Ram Villivalam (D) 2,224 1,410 3,634 81,384,793 115,281,559 765

9 Laura Fine (D) 859 1,076 1,935 57,788,717 81,857,718 543

10 Robert F. Martwick (D) 2,879 850 3,729 48,175,045 68,239,951 453

11 Celina Villanueva (D) 1,679 255 1,934 13,953,547 19,765,199 131

12 Steven M. Landek (D) 554 186 740 9,874,054 13,986,598 93

13 Robert Peters (D) 2,931 1,576 4,507 102,836,116 145,667,359 966

14 Emil Jones, III (D) 2,189 1,757 3,946 105,940,806 150,065,152 995

15 Napoleon Harris, III (D) 717 958 1,675 59,834,232 84,755,189 562

16 Jacqueline Y. Collins (D) 1,674 875 2,549 51,221,500 72,555,255 481

17 Elgie R. Sims, Jr. (D) 2,119 1,986 4,105 128,220,248 181,623,981 1,205

18 Bill Cunningham (D) 2,902 1,846 4,748 112,185,201 158,910,337 1,054

19 Michael E. Hastings (D) 725 1,186 1,911 77,493,351 109,769,331 728

20 Iris Y. Martinez (D) 3,142 368 3,510 19,245,769 27,261,632 181

21 Laura Ellman (D) 287 166 453 7,379,627 10,453,242 69

22 Cristina Castro (D) 101 69 170 3,406,968 4,825,970 32

23 Thomas Cullerton (D) 203 165 368 8,871,690 12,566,748 83

24 Suzy Glowiak Hilton (D) 441 384 825 19,877,093 28,155,902 187

25 Jim Oberweis (R) 132 99 231 4,513,548 6,393,441 42

26 Dan McConchie (R) 175 201 376 8,419,959 11,926,872 79

27 Ann Gillespie (D) 423 374 797 18,033,388 25,544,294 169

28 Laura M. Murphy (D) 383 387 770 20,891,155 29,592,322 196

29 Julie A. Morrison (D) 444 571 1,015 28,578,861 40,481,957 268

30 Terry Link (D) 167 225 392 10,944,545 15,502,948 103

3 Jobs Active and Total Annual Total Economic Illinois State Total Supported District Inactive Annuitants Payments to Impact of Senator Members by Benefit Members Annuitants Benefit Payments Payments

31 Melinda Bush (D) 116 101 217 $ 4,852,358 $ 6,873,365 46

32 Craig Wilcox (R) 84 96 180 4,896,815 6,936,339 46

33 Donald P. DeWitte (R) 144 181 325 9,026,768 12,786,417 85

34 Steve Stadelman (D) 31 24 55 1,043,077 1,477,518 10

35 Dave Syverson (R) 44 36 80 1,292,657 1,831,049 12

36 Neil Anderson (R) 14 8 22 261,731 370,742 2

37 Chuck Weaver (R) 13 14 27 487,381 690,375 5

38 Sue Rezin (R) 47 40 87 1,530,376 2,167,778 14

39 Don Harmon (D) 925 558 1,483 32,418,368 45,920,619 305

40 Patrick J. Joyce (D) 310 506 816 31,920,246 45,215,028 300

41 John F. Curran (R) 477 520 997 29,658,963 42,011,921 279

42 Linda Holmes (D) 91 68 159 3,545,966 5,022,860 33

43 Pat McGuire (D) 158 108 266 5,745,289 8,138,202 54

44 William E. Brady (R) 19 12 31 321,529 455,446 3

45 Brian W. Stewart (R) 25 47 72 1,949,811 2,761,908 18

46 David Koehler (D) 15 7 22 66,778 94,591 1

47 Jil Tracy (R) 8 12 20 390,375 552,967 4

48 Andy Manar (D) 7 5 12 98,546 139,590 1

49 Jennifer Bertino-Tarrant (D) 215 190 405 9,732,782 13,786,485 91

50 Steve McClure (R) 10 25 35 782,048 1,107,772 7

51 (R) 12 8 20 400,756 567,671 4

52 Scott M. Bennett (D) 33 20 53 444,869 630,157 4

53 Jason A. Barickman (R) 15 14 29 544,380 771,115 5

54 Jason Plummer (R) 5 4 9 149,862 212,280 1

55 Dale A. Righter (R) 8 6 14 895,726 1,268,796 8

56 Rachelle Crowe (D) 5 7 12 300,528 425,699 3

57 Christopher Belt (D) 7 5 12 338,189 479,045 3

58 Paul Schimpf (R) 4 11 15 362,244 513,118 3

59 Dale Fowler (R) 3 17 20 664,192 940,828 6

Undetermined 1,739 974 2,713 60,134,598 85,180,659 564

Grand Total 49,080 24,069 73,149 $ 1,398,008,184 $ 1,980,278,592 13,133

4 CTPF MEMBERS BY ILLINOIS HOUSE DISTRICT

Jobs Active and Total Annual Total Economic Total Supported District Illinois State Representative Inactive Annuitants Payments to Impact of Members by Benefit Members Annuitants Benefit Payments Payments

1 Aaron M. Ortiz (D) 777 103 880 $ 5,207,668 $ 7,376,661 49 2 (D) 1,274 110 1,384 6,383,014 9,041,539 60 3 Eva Dina Delgado (D) 1,131 175 1,306 9,461,030 13,401,549 89 4 Delia C. Ramirez (D) 1,659 95 1,754 4,710,922 6,673,021 44 5 Lamont J. Robinson, Jr. (D) 1,077 411 1,488 24,082,690 34,113,130 226 6 Sonya M. Harper (D) 750 191 941 11,249,491 15,934,904 106 7 (D) 362 436 798 25,727,971 36,443,671 242 8 La Shawn K. Ford (D) 616 275 891 16,456,960 23,311,284 155 9 Arthur Turner (D) 1,027 153 1,180 8,299,529 11,756,283 78 10 (D) 1,136 149 1,285 7,629,935 10,807,803 72 11 Ann M. Williams (D) 2,210 265 2,475 15,799,594 22,380,125 148 12 Jonathan "Yoni" Pizer (D) 1,746 344 2,090 18,788,292 26,613,616 177 13 Gregory Harris (D) 1,953 294 2,247 15,997,188 22,660,016 150 14 Kelly M. Cassidy (D) 1,345 438 1,783 22,988,931 32,563,820 216 15 John C. D'Amico (D) 1,286 721 2,007 42,453,859 60,135,892 399 16 Yehiel M. Kalish (D) 938 688 1,626 38,897,256 55,097,963 365 17 Jennifer Gong-Gershowitz (D) 473 660 1,133 36,256,634 51,357,522 341 18 (D) 378 407 785 21,010,210 29,760,963 197 19 Lindsey LaPointe (D) 1,737 414 2,151 23,075,303 32,686,166 217 20 (R) 1,140 435 1,575 25,062,974 35,501,703 235 21 Edgar Gonzalez, Jr. (D) 465 80 545 4,668,352 6,612,721 44 22 Michael J. Madigan (D) 1,214 175 1,389 9,285,195 13,152,478 87 23 Michael J. Zalewski (D) 223 102 325 5,253,914 7,442,170 49 24 (D) 331 84 415 4,620,140 6,544,429 43 25 Curtis J. Tarver, II (D) 1,602 959 2,561 63,682,925 90,206,864 598 26 Kambium Buckner (D) 1,329 617 1,946 39,153,191 55,460,495 368 27 (D) 1,514 1,104 2,618 66,341,319 93,972,479 623 28 (D) 675 653 1,328 39,599,487 56,092,674 372 29 Thaddeus Jones (D) 425 712 1,137 45,382,880 64,284,850 426 30 William Davis (D) 289 246 535 14,451,352 20,470,340 136 31 Mary E. Flowers (D) 921 581 1,502 33,812,375 47,895,230 318 32 André Thapedi (D) 753 294 1,047 17,409,125 24,660,025 164 33 Marcus C. Evans, Jr. (D) 1,157 999 2,156 64,942,138 91,990,539 610 34 Nicholas K. Smith (D) 960 986 1,946 63,268,247 89,619,472 594 35 (D) 1,996 998 2,994 59,297,609 83,995,064 557 36 Kelly M. Burke (D) 905 848 1,753 52,887,591 74,915,273 497 37 Margo McDermed (R) 242 283 525 17,520,137 24,817,274 165 38 Debbie Meyers-Martin (D) 483 903 1,386 59,973,214 84,952,057 563 39 (D) 1,442 176 1,618 8,959,486 12,691,112 84

5 Jobs Active and Total Annual Total Economic Illinois State Total Supported District Inactive Annuitants Payments to Impact of Representative Members by Benefit Members Annuitants Benefit Payments Payments

40 Jaime M. Andrade, Jr. (D) 1,700 192 1,892 $ 10,286,283 $ 14,570,520 97 41 (R) 167 77 244 3,599,485 5,098,670 34 42 (R) 120 89 209 3,780,142 5,354,571 36 43 (D) 25 8 33 289,694 410,352 3 44 (D) 76 61 137 3,117,274 4,415,619 29 45 (D) 94 103 197 5,552,001 7,864,410 52 46 (D) 109 61 170 3,248,902 4,602,070 31 47 Deanne M. Mazzochi (R) 266 233 499 12,796,749 18,126,595 120 48 (D) 175 151 326 7,080,344 10,029,307 67 49 Karina Villa (D) 73 54 127 2,492,619 3,530,795 23 50 Keith R. Wheeler (R) 59 45 104 2,020,929 2,862,646 19 51 Mary Edly-Allen (D) 110 149 259 6,187,985 8,765,281 58 52 David McSweeney (R) 65 52 117 2,231,974 3,161,592 21 53 Mark L. Walker (D) 253 258 511 12,909,123 18,285,773 121 54 Thomas Morrison (R) 170 116 286 5,124,265 7,258,522 48 55 Martin J. Moylan (D) 257 297 554 16,245,385 23,011,588 153 56 (D) 126 90 216 4,645,770 6,580,734 44 57 Jonathan Carroll (D) 167 252 419 12,760,602 18,075,393 120 58 Bob Morgan (D) 277 319 596 15,818,259 22,406,564 149 59 (D) 134 199 333 10,073,499 14,269,111 95 60 (D) 33 25 58 869,758 1,232,012 8 61 (D) 53 40 93 2,082,209 2,949,449 20 62 (D) 63 61 124 2,770,149 3,923,916 26 63 Steven Reick (R) 25 34 59 1,860,542 2,635,458 17 64 (R) 59 62 121 3,036,273 4,300,881 29 65 (R) 75 131 26 6,827,766 9,671,531 64 66 (R) 69 50 119 2,199,002 3,114,886 21 67 Maurice A. West, II (D) 11 3 14 118,509 167,869 1 68 John M. Cabello (R) 20 21 41 924,567 1,309,650 9 69 (R) 14 8 22 218,760 309,874 2 70 (R) 30 28 58 1,073,897 1,521,174 10 71 Tony McCombie (R) 5 5 10 24,068 34,092 0 72 (D) 9 3 12 21,123 29,921 0 73 (R) 7 7 14 300,129 425,133 3 74 (R) 5 7 12 187,252 265,242 2 75 David A. Welter (R) 38 28 66 1,053,449 1,492,210 10 76 (D) 9 11 20 398,989 565,169 4 77 (D) 84 63 147 3,456,404 4,895,996 32 78 Camille Y. Lilly (D) 841 495 1,336 28,961,964 41,024,623 272 79 (R) 27 28 55 1,374,030 1,946,313 13 80 Anthony DeLuca (D) 283 478 761 30,546,216 43,268,715 287

6 Jobs Active and Total Annual Total Economic Illinois State Total Supported District Inactive Annuitants Payments to Impact of Representative Members by Benefit Members Annuitants Benefit Payments Payments

81 Anne Stava-Murray (D) 227 183 410 $ 10,564,523 $ 14,964,647 99 82 (R) 250 337 587 19,094,441 27,047,275 179 83 (D) 11 25 36 1,490,142 2,110,786 14 84 Stephanie A. Kifowit (D) 80 43 123 2,055,824 2,912,075 19 85 John Connor (D) 122 89 211 4,891,783 6,929,211 46 86 Lawrence Walsh, Jr. (D) 36 19 55 853,506 1,208,991 8 87 (R) 4 4 8 103,589 146,734 1 88 Keith P. Sommer (R) 15 8 23 217,940 308,712 2 89 Andrew S. Chesney (R) 10 37 47 1,657,291 2,347,553 16 90 (R) 15 10 25 292,520 414,355 3 91 Michael D. Unes (R) 8 2 10 17,704 25,078 0 92 Jehan Gordon-Booth (D) 7 5 12 49,074 69,513 0 93 Norine K. Hammond (R) 3 7 10 263,143 372,742 2 94 Randy E. Frese (R) 5 5 10 127,232 180,224 1 95 (R) 3 0 3 0 0 0 96 (D) 4 5 9 98,546 139,590 1 97 (R) 107 75 182 3,976,104 5,632,151 37 98 Natalie A. Manley (D) 108 115 223 5,756,678 8,154,334 54 99 Mike Murphy (R) 8 19 27 488,139 691,449 5 100 C.D. Davidsmeyer (R) 2 6 8 293,909 416,322 3 101 (R) 8 0 8 0 0 0 102 (R) 4 8 12 400,756 567,671 4 103 (D) 22 8 30 242,822 343,958 2 104 Michael T. Marron (R) 10 12 22 202,047 286,199 2 105 Dan Brady (R) 13 9 22 362,835 513,956 3 106 Thomas M. Bennett (R) 2 5 7 181,546 257,159 2 107 (R) 2 4 6 149,862 212,280 1 108 (R) 3 0 3 0 0 0 109 Darren Bailey (R) 0 4 4 778,893 1,103,301 7 110 Chris Miller (R) 8 2 10 116,833 165,494 1 111 (D) 2 3 5 174,576 247,287 2 112 Katie Stuart (D) 3 4 7 125,952 178,412 1 113 (D) 4 3 7 189,904 268,999 2 114 LaToya Greenwood (D) 3 2 5 148,285 210,046 1 115 (R) 4 10 14 280,838 397,806 3 116 Nathan D. Reitz (D) 0 1 1 81,406 115,312 1 117 (R) 2 7 9 279,845 396,401 3 118 (R) 1 10 11 384,347 544,428 4 Undetermined 1,840 1,025 2,865 62,784,336 88,934,011 591

Grand Total 49,080 24,069 73,149 $ 1,398,008,184 $ 1,980,278,592 13,133

7 CTPF MEMBERS BY CHICAGO WARD

Jobs Active and Total Annual Total Economic City of Chicago Total Supported Ward Inactive Annuitants Payments to Impact of Alderman Members by Benefit Members Annuitants Benefit Payments Payments

1 1,174 57 1,231 $ 2,842,642 $ 4,026,602 27

2 Brian Hopkins 921 261 1,182 15,793,384 22,371,328 148

3 430 109 539 6,286,515 8,904,848 59

4 1,060 597 1,657 41,303,406 58,506,275 388

5 658 437 1,095 27,820,393 39,407,586 261

6 756 679 1,435 43,471,358 61,577,179 408

7 553 465 1,018 30,315,065 42,941,289 285

8 Michelle Harris 866 842 1,708 55,117,172 78,073,475 518

9 501 356 857 21,066,268 29,840,368 198

10 541 103 644 5,620,077 7,960,838 53

11 Patrick Thompson 779 88 867 5,010,171 7,096,907 47

12 George A. Cardenas 215 19 234 1,038,761 1,471,405 10

13 Marty Quinn 704 113 817 5,921,374 8,387,626 56

14 Ed Burke 296 29 325 1,579,082 2,236,770 15

15 219 59 278 3,017,890 4,274,841 28

16 Stephanie D. Coleman 158 41 199 2,131,302 3,018,990 20

17 David Moore 239 126 365 7,444,321 10,544,881 70

18 942 480 1,422 29,848,031 42,279,735 280

19 Matthew O’Shea 2,263 1,009 3,272 62,711,464 88,830,788 589

20 Jeanette B. Taylor 398 97 495 5,124,215 7,258,450 48

21 , Jr. 785 473 1,258 27,938,942 39,575,512 262

22 Michael D. Rodriguez 258 19 277 854,397 1,210,253 8

23 997 130 1,127 6,908,235 9,785,515 65

24 Michael Scott, Jr. 277 66 343 3,502,003 4,960,588 33

25 Byron Sigcho Lopez 752 65 817 3,894,427 5,516,456 37

26 763 42 805 1,874,304 2,654,952 18

27 Walter Burnett, Jr. 490 53 543 2,772,096 3,926,673 26

28 212 61 273 3,449,753 4,886,575 32

29 340 130 470 7,050,292 9,986,739 66

30 Ariel E. Reboyras 480 70 550 4,012,966 5,684,366 38

8 Jobs Active and Total Annual Total Economic City of Chicago Total Supported Ward Inactive Annuitants Payments to Impact of Alderman Members by Benefit Members Annuitants Benefit Payments Payments

31 Felix Cardona, Jr. 404 75 479 $ 4,149,901 $ 5,878,335 39

32 1,252 102 1,354 6,011,367 8,515,102 56

Rossana Rodriguez 33 907 96 1,003 4,879,919 6,912,406 46 Sanchez

34 677 490 1,167 29,851,047 42,284,008 280

35 Carlos Ramirez-Rosa 940 79 1,019 4,358,760 6,174,183 41

36 1,017 221 1,238 12,760,126 18,074,718 120

37 337 89 426 5,244,516 7,428,857 49

38 932 202 1,134 10,536,670 14,925,193 99

39 916 322 1,238 19,009,060 26,926,333 179

40 , Jr. 833 167 1,000 9,666,947 13,693,231 91

41 1,386 400 1,786 22,110,474 31,319,487 208

42 Brendan Reilly 514 158 672 9,103,137 12,894,594 86

43 Michele Smith 820 140 960 7,999,815 11,331,738 75

44 Thomas M. Tunney 1,238 196 1,434 10,661,912 15,102,599 100

45 James M. Gardiner 1,096 275 1,371 15,633,316 22,144,592 147

46 756 107 863 5,892,166 8,346,253 55

47 Matthew J. Martin 1,299 169 1,468 9,691,161 13,727,530 91

48 720 264 984 14,200,048 20,114,368 133

49 Maria E. Hadden 659 179 838 8,672,141 12,284,088 81

50 691 324 1,015 18,112,935 25,656,973 170

Undetermined 1,698 679 2,377 43,683,802 61,878,106 410

Grand Total 38,119 11,810 49,929 $ 707,949,527 $ 1,002,810,505 6,651

CTPF MEMBERS

9 UNDERSTANDING THE EQUATION: CTPF’S ECONOMIC IMPACT

FUND DEMOGRAPHICS REGION: ILLINOIS, A majority of CTPF’s members, about 90% of all active members and INDUSTRY, HOUSEHOLDS annuitants (including retirees, survivors, and members with disabilities CTPF data used in this report: receiving pensions), live in the State of Illinois. Approximately 84% of $1.4 billion in payments to CTPF’s annuitants live in Illinois and about half of those members reside 24,069 annuitants residing in the City of Chicago. CTPF annuitants spend their pensions close to in Illinois home, benefiting the state and local economies. Total impact is based on CTPF benefit payments multiplied by CALCULATING CTPF’S TOTAL ECONOMIC IMPACT the 2019 U.S. Bureau of Economic Economic activity includes CTPF benefit payments and all additional Analysis total output multiplier economic activity in Illinois generated by those payments. Economic for the State of Illinois of 1.4165: multipliers measure the direct and indirect effect of payments made to CTPF annuitants. CTPF uses the Regional Input-Output Modeling System 1.4165 (RIMS II) multipliers supplied by the U.S. Department of Commerce, x 1.398 billion Bureau of Economic Analysis to determine economic impact. billion in economic $1.98 impact in Illinois The RIMS II data model produces multipliers that are used in economic impact studies to estimate the total impact on a region. Multipliers are 1.4165 based on statewide economic activity. Individually calculated multipliers x 708 million by district are not available, so economic impact is intended to be billion in economic illustrative. $1.0 impact in Chicago

PENSIONS: CTPF MEMBERS INVESTMENT BEYOND THE CLASSROOM

Educators make an immeasurable impact on children: As of June 30, 2019, CTPF employed 18 Illinois-based educating, nurturing, and helping them grow into investment managers who managed assets with a market productive citizens and future leaders. CTPF members value of $3.3 billion. These assets represented 34% of CTPF’s make an impact that extend far beyond the classroom – investment portfolio. CTPF has historically demonstrated its active and retired educators are also consumers, taxpayers, commitment to promoting economic activity in Illinois via voters, and investors – who live and work primarily in our holdings and use of Illinois-based external managers Chicago and surrounding communities. and broker/dealers. CTPF monitors our Illinois managed assets monthly and routinely looks for opportunities to CTPF members and the investments they hold impact prudently increase our holdings in Illinois, while maintaining the Illinois economy, and the CTPF Board of Trustees a diversified portfolio. (the Board) set the Fund’s investment policy, operating under the prudent person rule and with investment These investments provide jobs, house families, offer space authority granted by the Illinois Compiled Statutes, Chapter for vital businesses, and contribute to the vibrancy of a 40, Act 5, Articles 1 and 17. The Board approves an asset diverse city. CTPF holds ownership stakes in many properties allocation program designed to obtain the highest expected throughout Chicago and the State, many of which are familiar return on investments with an acceptable level of risk. landmarks. When all other factors are equal, the investment team selects Illinois-based managers and projects.

CTPF MEMBERS INVEST “IN THE ILLINOIS ECONOMY. 10 ” NUMBERSBY THE CTPF CELEBRATES 125 years of continuous operations in 2020. This fiscal year we are celebrating 125 years of providing financial security for our members. 11895 2020

One of 646 public pension CTPF is independent, governed systems in Illinois by 12 Trustees Oldest in Illinois (1895) Six elected by active members, three $11.0 Billion in Assets elected by pensioners, one elected by 47.5% Funded the principals/administrators, and two appointed by the Board of Education.

CTPF’s current governance system dates to 1907 when CTPF Board President Jane Addams, the legendary social activist and reformer, championed legislation which allowed teachers to elect representatives to govern the fund.

CTPF receives contributions from CTPF invests funds for the long-term and the State of Illinois, a tax levy, CPS, has achieved an average growth rate of and employees and revenue from 8.54% over the past 35 years. investments. CTPF values diversity with 44% of our CTPF received $999.2 million in assets managed by MWDBE firms. contributions for Fiscal Year2019 , We invest close to home with and made nearly $1.5 billion in $3.3 billion managed by Illinois-based benefit payments. investment managers.

CTPF members have been contributing to pensions since 1895, more than 40 years before xxx-xx-xxxx Social Security was established. CTPF members do not contribute to Social Security during employment by CPS and other participating employers. Employee contributions are9% of pensionable earnings.

CTPF MEMBERS ARE SPENDERS. Every dollar paid out in pension benefits generates$1.41 in economic activity for the State – a solid return in any economy. But in tough economic times, pensions matter more – because pensioners with guaranteed income can continue to spend.

125 YEARS OF IMPACT 11 THE B TY T EBE T HEE ETE BEY

AOT 90% OF ALL CTPF MMS ICLDIG 83% OF AITATS, LIV I ILLIOIS.

ILLINOISILLINOIS

$1.4 BILLION MAD I DICT PSIO PAYMTS TO AITATS LIVIG I ILLIOIS SUTS I 13,133 JOBS $1.98 BILLION SPPOTD I TOTAL COOMIC IMPACT I ILLIOIS I ILLIOIS

CHICAGOCHICAGO Trust. Integrity. Stability.

$708 MILLION 03 orth LaSalle Street Suite 600 Chicago IL, 60601131 www.ctpf.org I DICT PSIO PAYMTS MAD Members 31.641.4464 General 31.641.1400 Fax 31.641.7185 TO AITATS LIVIG I CICAGO SUTS I 6,651 $1.0 BILLION JOBS SPPOTD I TOTAL COOMIC IMPACT TE CTPF CALCLATS STIMATS OF TOTAL COOMIC I CICAGO IMPACT AD JOS SPPOTD Y MLTIPLYIG FIT I CICAGO PAYMTS Y TOTAL OTPT MLTIPLIS SPPLID Y | T .S. DPATMT OF COMMC, A OF COOMIC AALYSIS.

45 S. Financial Place, Suite 1400 | Chicago, Illinois 606051000 | T 31.641.4464 | F 31.641.7185 | www.ctpf.org | memberservicesctpf.org