SAN JOSE, Calif., June 30, 2016—“The Retirement Security Initiative applauds Chicago Public Schools for stepping up to its obligation to fund the Chicago Teachers’ Pension Fund even as it pursues its position that Chicago teacher pensions should be funded by the State, just like every other school district in Illinois. We have previously named Mayor Emanuel as an RSI pension hero, and his continued progress on finding new resources and working collaboratively with labor on this challenge is notable.  

“The City of Chicago has reached a consensual resolution with its police, fire and laborer pension funds on funding payments and is in the process of finalizing a consensual resolution with its municipal worker pension fund, the last unresolved pension fund of the City to reach a constructive resolution of the pension funding issues. 

“Chicago embodies the spirit of what RSI is trying to accomplish: address the pension funding challenge head on and put in place reforms and or funding to assure retirement security for public sector employees.”