The Honorable name of your legislator
Address
City Illinois Zip

Dear name of legislator:

I am writing to share a message about pension “reform.”

I belong to the Retired Teachers Association of Chicago and would like to point out that the Chicago Teachers’ Pension Fund has suffered from a declining funding ratio for more than a decade.  Our employer’s funding “holidays” have cost our fund $3.2 billion since 1995. The State of Illinois has also failed to live up to its promise to fund Chicago’s teachers and we now receive less than a penny for every dollar sent to downstate (suburban) teachers. This lack of funding is the main reason our fund, which had a 100% funding ratio in 2002, has dropped to a 59% funding ratio in 2012.

Fixing this broken system isn’t easy, but an important part of the solution must come from revenue. We cannot cut benefits and save the system. We must have revenue to make up for the massive underfunding — and that revenue can’t be an empty promise. True pension reform begins with revenue reform.

Teachers have contributed faithfully from their pay checks and have never missed a pension payment.  We have upheld our obligation in the pension equation — it is time for our employer and the State of Illinois to do the same.

I respectfully ask you today to remember that any kind of pension reform legislation must include funding reform for the Chicago Teachers’ Pension Fund. Teachers will not support any legislation which does not include a funding guarantee from our employer.

We can move forward, together, but we need an assurance that commitments will be upheld.   I hope you will be mindful of this important point as you approach the issue of pension reform in the upcoming legislative session.

You can find more information about the Chicago Teachers’ Pension Fund on the education and advocacy web page at www.ctpf.org.

Thank you for your time and consideration.

Sincerely, 

Your name
Your Address