CHICAGO, Feb. 26, 2015 /PRNewswire/ -- The Chicago Teachers' Pension Fund (CTPF) Board of Trustees today announced Charles A. Burbridge as the new executive director of the $10.8 billion pension fund. Mr. Burbridge's appointment will become effective on March 16, 2015.
"Our trustees are confident Mr. Burbridge's extensive, senior-level financial experience in both the public and private sectors will be a valuable asset to the fund going forward," said Jay C. Rehak, president of the CTPF Board of Trustees. "In addition, Chuck's leadership and strong background working in Chicago and Illinois will help us navigate the many challenges and opportunities facing the CTPF in the current pension fund environment."
The board of trustees conducted a national search for candidates and worked with executive search firm EFL Associates. The trustees cited Mr. Burbridge's broad financial experience - which includes having held high-level executive positions in several public school systems, including the Chicago Public Schools, as well as other Illinois government-based operations - as making him uniquely qualified for the position.
"I'm excited to be leading the Chicago Teachers' Pension Fund into its next chapter," said Mr. Burbridge, the incoming executive director of the Chicago Teachers' Pension Fund. "For more than 100 years the fund has been a key part of Chicago and the education community. I look forward to serving our 63,000 members and working with the trustees and the staff to ensure that our pension plan's funding gets back on track, so we are able to deliver on the promise made to our members."
Mr. Burbridge previously served as chief financial officer of the Atlanta Public Schools (APS) where he drove a focused vision for the finance, technology and facilities functions since he took that position in 2007. Mr. Burbridge also served as interim chief information officer for APS, implementing its Infinite Campus student information system. Prior to his post in Atlanta, Mr. Burbridge held a variety of senior level positions with the Los Angeles Unified School District, including deputy chief financial officer, chief financial officer and interim chief information officer from 2003 to 2007.
Mr. Burbridge has also held several positions in Illinois, including director, state and local government management assurance at KPMG; deputy chief financial officer at Chicago Public Schools; deputy chief financial officer for Cook County; and as an economist at Illinois Economic and Fiscal Commission. Mr. Burbridge earned a bachelor's and master's in economics from the University of Illinois, Springfield.
The fund's current interim executive director, Peter A. Driscoll, will stay on with the fund through March 31, 2015, to ensure a smooth transition. Mr. Burbridge succeeds Kevin B. Huber, who resigned from CTPF effective December 31, 2014.
Established by the Illinois state legislature in 1895, the Chicago Teachers' Pension Fund manages members' assets and administers benefits. The $10.8 billion pension fund serves approximately 63,000 active and retired educators, and provides pension and health insurance benefits to more than 27,700 beneficiaries.
SOURCE Chicago Teachers’ Pension Fund