The Fund’s Director of Educator Supports Mariel Laureano testified before the Chicago Board of Education on Wednesday, March 5, 2025. Drawing on her experience as a former Chicago Public Schools (CPS) principal, she emphasized the risks associated with the district reimbursing the city of Chicago for the latest payment to the Municipal Employees Annuity and Benefit Fund, the pension fund for qualified employees of the city of Chicago and the Chicago Board of Education. She stressed the importance of the school district prioritizing spending on resources for school leaders, teachers, and students. The video of her testimony is below, followed by a transcript.
Testimony Delivered to the Chicago Board of Education on March 5, 2025
Good morning.
I am Mariel Laureano, a director at The Chicago Public Education Fund, an organization that provides leadership development programming to over 350 Chicago school leaders.
As a former principal, I know firsthand the importance, responsibility, and challenges of managing a school budget.
This is a difficult task in a district that is only funded at 79% adequacy — 79% adequacy!
And yet, this board is being asked to approve a $175 million pension payment that CPS is not legally obligated to pay. That one choice will prevent CPS from having enough revenue to cover the new teacher’s contract. We understand that borrowing now is not an option.
I served through CPS’ last financial crisis. For 10 years, I led Prieto Math and Science Academy, a dual-language neighborhood elementary school in Belmont Cragin. Between 2014 and 2017, CPS ran consecutive budget deficits of over $1 billion — just like the projected shortfalls in CPS’ five-year outlook today.
I saw firsthand what that meant in schools like mine: impactful staff cuts, loss of student supports, and frustrated parents.
If you choose to make this payment, CPS’ only way forward for next year’s budget is to borrow again. Please don’t take that risk. Instead, prioritize the needs of school communities.
Use CPS’s revenue for labor agreements for teachers and principals.
Do what’s right for principals. For teachers. And, most importantly, for students.
When it comes before you, we encourage you, vote no on this unnecessary pension reimbursement.
Thank you.