Post by Logan on Jul 6, 2016 2:18:07 GMT -6
Chicago Public Schools made a $658 million payment to the teachers pension fund Thursday, a check fund officials say is about $12 million light.
The Chicago Teachers' Pension Fund says the district owed it about $669 million on Thursday to settle a gargantuan — and growing — annual pension tab that has hamstrung CPS' ability to make ends meet and prompted considerable debate between city leaders and state government.
The dispute over how much is owed stems from a difference over how a state contribution to local teacher pensions can be credited to the district's bill. The district's position, a CPS spokeswoman said, was that it paid its full obligation to the pension fund.
"I respect them, but I disagree with them," said Charles Burbridge, executive director of the Chicago Teachers' Pension Fund.
Read more: www.chicagotribune.com/news/local/breaking/ct-chicago-public-schools-pension-payment-0701-20160630-story.html
The Chicago Teachers' Pension Fund says the district owed it about $669 million on Thursday to settle a gargantuan — and growing — annual pension tab that has hamstrung CPS' ability to make ends meet and prompted considerable debate between city leaders and state government.
The dispute over how much is owed stems from a difference over how a state contribution to local teacher pensions can be credited to the district's bill. The district's position, a CPS spokeswoman said, was that it paid its full obligation to the pension fund.
"I respect them, but I disagree with them," said Charles Burbridge, executive director of the Chicago Teachers' Pension Fund.
Read more: www.chicagotribune.com/news/local/breaking/ct-chicago-public-schools-pension-payment-0701-20160630-story.html