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Mark Renz's avatar

The amount of money is not the point here. It is the unabashed audacity of those who are supposed to be the guardians of OUR retirement funds. As long as retirees do not pay attention to who is elected and the "old guard" remains in control nothing will change. Reform candidates are trounced in each election (Ms. Meza for example). With funding at under 50%, those in tier 2 will not even get their contributions back.

I thought of running for a retiree CTU rep position when I retired and saw how things work. My chance of winning (even pledging not to take one cent from the pension fund for something as simple as parking fees to attend meetings) would have seen me crushed like a bug in an election by those who have a strangle hold on the CTPF retiree positions.

Mark Renz, Oak Lawn, Retired HS History teacher and A.P. at Whitney Young Magnet HS.

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Mark Renz's avatar

I am issuing a challenge to the CTPF Board of Trustees. It's time to think costs v. returns on investment with OUR assets. We are now under a 50% funding level. Begin moving to index investing to cut costs to a minimum. Start cutting off OUR funds to high priced professional managers who under perform. I suggest a small investment to begin. $5 million sent to Fidelity or Vanguard to open an account in their S & P 500. The time to act now before we plunge

to the depths of crisis now being experienced by Chicago Police pension fund. (If necessary, change the "rules" as needed to make the $5 million investment possible.)

Ms. Mendoza ran as a teacher trustee under a banner of reducing costs by index investing.

She lost her election. If we continue to elect the "old guard" in teacher and retiree elections we are

doomed.

Mark Renz - Retired HS History Teacher - Assistant Principal Whitney M. Young Magnet H.S.

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