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The cash-strapped Chicago Public Schools (CPS) said it sent $464 million to its teachers' pension fund by Friday's fiscal year-end deadline, leaving an additional $250 million payment to be made in the fall. “Only CPS has to take hundreds of millions of dollars out of the classroom for teacher pensions, but despite the unfairness of this law, CPS is meeting its obligation to our teachers’ pensions today," CPS CEO Forrest Claypool said in a statement. Unlike other Illinois school districts, which are part of a state-wide teachers retirement system subsidized with state dollars, CPS has its own pension fund.
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