Are Chicago Teachers Pension Fund Investment Committee Meetings no longer open to the public? Former Teacher Trustee Tina Padilla, who retired last year and served as the Investment Committee Chair for ten years, wrote a letter to the CTPF Director Carlton Lenoir lambasting the decision to go into Executive Session that was closed to the public during the Feb. 27, 2024 Investment Committee Meeting.
"Former CTPF Teacher Trustee Phil Weiss said he could not recall any time during his tenure as the chair of the Investment Committee discussing investment manager business behind closed doors. However, he added that he was not alarmed about this latest decision because the Fund needs to discuss certain fund business behind closed doors when there are legal problems such as criminal activites that could result in lawsuits." Criminal activities that could result in lawsuit? What exactly are they hiding?
"Former CTPF Teacher Trustee Phil Weiss said he could not recall any time during his tenure as the chair of the Investment Committee discussing investment manager business behind closed doors. However, he added that he was not alarmed about this latest decision because the Fund needs to discuss certain fund business behind closed doors when there are legal problems such as criminal activites that could result in lawsuits." Criminal activities that could result in lawsuit? What exactly are they hiding?
Public pensions are supposed (required by law) to be the most transparent of all! Yet are most adept at cultivating secrecy.