"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.
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
This payment marks the first time since 2010 that the BOE has made a full payment of its pension obligation," said Jay C. Rehak, CTPF president of the board of trustees and interim executive director.
"Our members pay their pension obligations in full with every paycheck - every month, every year - and have never missed a payment.
We appreciate the employer doing the same."
is a well-managed plan that has generated an 8.86 percent average return over the last 35 years," said Rehak
"Our fund has had an actuarially based funding schedule in place for many years, but without a consistent, reliable source of revenue - it means nothing," said Rehak
"After the close of this latest session, we want to reflect on the work that was done by our legislators and to recognize their contributions on behalf of the 63,000 active and retired members of CTPF," said Jay C. Rehak, CTPF president of the board of trustees and interim executive director.
Our trustees will continue to work to promote measures like these for the protection of our fund and our members," Rehak
"Our members - Chicago's active and retired teachers, principals and administrators - have been calling on their legislators to restore funding since 2011, and this is clearly a step in the right direction," said Jay C. Rehak, president of the CTPF Board of Trustees and interim executive director.
is a well-managed plan that has generated an 8.86 percent annual return over the last 35 years," said Rehak
, "But a lack of employer contributions and falling support from the state of Illinois have taken a toll.
Our funded ratio has fallen below 50 percent.
CTPF trustees are committed to securing every possible dollar for our plan to protect our members' retirement security, and we appreciate this support from the state of Illinois."
Jay C. Rehak Featured on Chicago Newsroom
CTPF's Board of Trustees President and Interim Executive Director Jay C. Rehak joined Ken Davis of Chicago Newsroom (CAN TV), George Schmidt, Substance News, and Dan Fabrizio, Chicago Firefighters' Pension Fund, May 22 where they discussed the history of Chicago's municipal employee pensions and the long-standing failure of government officials to adequately fund the system.
Jay C. Rehak Named Interim Executive Director at Chicago Teachers' Pension Fund
CHICAGO - The Chicago Teachers' Pension Fund (CTPF) Board of Trustees voted on Thursday, May 15, 2014, to authorize President Jay C. Rehak to take a leave of absence from his teaching position to serve as Interim Executive Director at CTPF until June 30, 2014, when Executive Director Kevin B. Huber is expected to return from a medical leave.
I look forward to joining them during this critical period while pension reform is at the forefront of our legislators' agenda," said Rehak
Elected to the CTPF Board of Trustees as a representative of active teachers in 2009 and re-elected in 2012, Rehak has served as president since 2011, and is also member of the Trustee Leadership Forum for Retirement Security (an Initiative for Responsible Investment at Harvard University).
Since joining the board, Rehak has served on several CTPF committees, including Investments, Finance and Audit, Pension Law and Rules, and chairman of the Communications Committee.
Rehak, who received the 2014 Tech Innovator of the Year Award from CPS, is an English teacher at Whitney M. Young Magnet High School, a position he has held since 1993.
An educator for more than 27 years, he began his CPS career as a language arts teacher at Daniel Webster Elementary.
He earned a Bachelor of Arts in English from the University of Illinois at Urbana-Champaign, and a Master of Science in adult education from Northern Illinois University in DeKalb.
National Board Certification in 2006.