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Retirement Plan for CTA Employees and Retiree Health Care Trust
The Retirement Plan for CTA Employees and Retiree Health Care Trust was established in 1949 to deliver defined benefit pensions to non-temporary full-time...
Retirement Plan for CTA Employees and Retiree Health Care Trust
The Retirement Plan for CTA Employees and Retiree Health Care Trust was established in 1949 to deliver defined benefit pensions to non-temporary full-time Chicago Transit Authority employees. Paul Sidrys oversees administration of both the Retirement Plan and the Health Care Trust. The plan receives contributions tied to CTA operations and union agreements with Amalgamated Transit Union Locals 241 and 308. Asset allocation targets include 17.29 percent to private equity, 12 percent to real estate equity, 7 percent to infrastructure and up to 10 percent to private debt. Confirmed holdings include commitments to HighVista Fund X, Mesirow Financial Private Equity Fund IX, Partners Group funds, HPS Investment Partners private credit and Man FRM Alpha Protect. Geographic exposure spans the United States and global markets through external managers. Marquette Associates has served as investment advisor since 2019. The plan reported $1.984 billion in assets. Northern Trust has acted as custodian since 1996. A board meeting on 22 August 2024 reviewed performance and monitored Artisan Partners. The Townsend Group has provided real estate consulting since 2008. The plan functions as a single public pension vehicle sponsored by the Chicago Transit Authority with board representation from employee unions. Governance separates investment decisions from CTA operations while retaining actuarial oversight through Buck Global and Segal Consulting.
General information
Firm type
Pension Fund
Year founded
1949
Location
Region
North America
Country
United States
City
Chicago
Corporate office
55 West Monroe Street Suite 1950, Chicago, IL, United States
Principals
Paul Sidrys
Executive Director
Sector focus
Frequently asked questions
Who runs investment decisions at the Retirement Plan for CTA Employees?
Paul Sidrys serves as Executive Director and oversees administration. Marquette Associates acts as investment advisor with Kweku Obed as primary contact. The board reviews performance and manager selections.
Does the plan participate in fund commitments or direct deals?
The plan invests as a limited partner in closed-end funds and commingled vehicles. Holdings include HighVista Fund X, Mesirow Financial Private Equity Fund IX and Partners Group funds.
What asset classes receive target allocations?
Targets cover 17.29 percent private equity, 12 percent real estate equity, 7 percent infrastructure and up to 10 percent private debt. Public equity exposure includes Vanguard U.S. Equity Index Funds and emerging markets mandates at GQG Partners and ARGA.
Where does the underlying capital originate?
Contributions come from the Chicago Transit Authority as the sponsoring employer and from CTA employees covered by the defined benefit plan.
Which service providers support the plan?
Northern Trust serves as custodian since 1996. Burke, Warren, MacKay & Serritella provides general counsel. Buck Global and Segal Consulting handle actuarial work.
How does the plan monitor external managers?
The board conducts periodic performance reviews. Artisan Partners was placed on alert in 2024 due to underperformance. GQG Partners holds 60 percent of the emerging markets equity allocation as of late 2024.
What is the plan's relationship to the Chicago Transit Authority?
The CTA acts as founder and sponsoring employer. Union locals 241 and 308 appoint board trustees. The plan exists solely to serve CTA employees and retirees.
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