The Chicago Board of Education filed suit today against the state of Illinois over its unconstitutional funding scheme for the $12.8 billion Chicago Public School Teachers Pension and Retirement Fund, according to a CPS statement.
The lawsuit, filed in Cook County Circuit Court, Chicago, seeks to end the inequitable system the state has used to provide funding to the Chicago teachers fund, compared to the funding for the $41.7 billion Illinois Teachers Retirement System, Springfield.
The state has failed to meet its goal every year since 1995 of providing 20% to 30% of the funding going to the state teachers system, the statement said. This year, state funding for the Chicago teachers plan was 5.3% of Illinois teachers systems funding level, the statement said.
In 2008, the CPS diverted $131.5 million from the classroom to maintain the required funding level for the Chicago teachers fund, the statement said. That number is expected to grow to about $188 million for 2009, the statement added.
Alexi Giannoulias, state treasurer, and Daniel W. Hynes, state comptroller, were named as defendants. Robyn Ziegler, spokeswoman for state Attorney General Lisa Madigan, couldnt immediately comment. Kevin Huber, executive director of the Chicago teachers fund; and Jon Bauman, executive director of the Illinois teachers system, couldnt be reached for comment.