Pensions
Chicago Teachers’ Pension Boosted Funded Status in Fiscal 2023
With returns of 9.1% for the fiscal year that ended in June 2023, the funded status increased by 400 basis points.
The fund promotes from within, appointing Andrew K. Kelsen, the head of alternative investments, to the role.
He leaves the Illinois Teachers’ Retirement System to replace Charles Burbridge, who departed last year.
Key to this, pension official Angela Miller-May tells a US House panel, is requiring a set level of minority and female outside advisers.
The fund is also barred from making any future investments in these industries.
Estimates cite lackluster returns, Gov.’s spending plan as causes of debt hit.
School district is required to pay pension fund $716 million by June 30.