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Emerging Market Small Cap RFP
The Retirement Plan for Chicago Transit Authority Employees ("the Plan") is requesting proposals for Emerging Market Small Cap management.
Update: Matthews v. The CTA, et al
The Illinois Supreme Court issued a ruling in the Matthews case, on Thursday, May 5th.
There were two groups of plaintiffs involved in the Supreme Court ruling. The first group includes those people who were hired by the CTA before September 5, 2001 and retired before January 1, 2007. The second group includes those people who were hired before September 5, 2001 and are still active employees or who have retired on or after January 1, 2007.
Some of the claims brought by the first group (hired before 9/5/2001 and retired before 1/1/2007) have been sent down to proceed before a trial court. This does not mean that the plaintiffs or the defendants "won" or "lost". It only means that the Supreme Court wants some of the claims brought by the first group to proceed before a trial court.
All of the claims brought by the second group (hired before 9/5/2001 and retired after 1/1/2007 or still active) have been dismissed by the Supreme Court.
The Trustees for the Retirement Plan and Retiree Health Care Trust are working with their attorneys to evaluate the next steps. In the meantime, there will be no changes in the administration of the Retirement Plan and the Retiree Health Care Trust.