Having trouble viewing this email? View Online

Holiday Office Closings

The CTPF office will be closed tomorrow Friday, December 31, 2021.

The office will re-open at 8:00 a.m. on Monday, January 3, 2022.

Deadline for Opt-In Option for Contract School Employees December 31, 2021

Legislation enacted August 27, 2021, changed the retirement plan requirements for educational staff employed by a Chicago Contract School in a position requiring certification or licensure. Individuals employed in contract schools on or after August 27, 2021, will be automatically enrolled in the Chicago Teachers’ Pension Fund (CTPF).

Teachers who were employed before August 27, 2021, have the option of joining CTPF. The election is made by completing and returning CTPF Form 290 and must be completed by tomorrow, December 31, 2021.

Contract School Resources

CTPF delivered information to Contract Schools, set up a dedicated website ctpf.org/Opt-In with educational resources, and offered three webinars for Contract School Members who have the option of joining CTPF. The workshop presentation and recording are available at the Contract School's dedicated webpage ctpf.org/Opt-In.

January Town Hall Webinar

CTPF offers quarterly, Town Hall webinars which share up-to-date information about the Fund and its operations. The webinars generally last about 40 minutes and require registration in advance. The winter webinar will be held Wednesday, January 26, 2022, at 4:30 p.m. Recordings of previous Town Hall Webinars are available on demand at ctpf.org. Register in advance here.

2022 Medicare Premiums

Changes made during the CTPF Open Enrollment period (October 1-31, 2021) go into effect January 1, 2022. The CTPF health insurance premium subsidy will remain 60% in 2022, and those changes will be reflected in January pay advices. An overview of benefits and costs for 2022 can be found in the 2022 Health Insurance Handbook at ctpf.org.

MEDICARE PREMIUMS

The Centers for Medicare and Medicaid Services (CMS) have announced Medicare premium rates for 2022. The standard Medicare Part B premium for 2022 will be $170.10 (which includes a $3.00 service fee that CTPF does not subsidize). CTPF will provide a subsidy of $100.26 per month for all qualified members. If you make Part B payments directly to Medicare, CTPF provides the subsidy by adding $100.26 to your monthly pension benefit. Some members are subject to IRMAA fees. CTPF does not subsidize Part B fees, late enrollment penalties or Part B IRMAA amounts. All CTPF members receive the same Part B subsidy.

Save the Date 2022 Retirement Webinars

CTPF will offer 2022 Retirement Webinars at 9:00 a.m. and 1:00 p.m. on February 21, 2022, and April 12, 2022. Webinars offer an overview of the retirement process and can help you jump start (or complete) your retirement application.

Registration for webinars opens Monday, January 3, 2022. Register at ctpf.org/calendar.

Heading South for the Winter?

If you're heading south for the winter, make sure you file a temporary change of address form with CTPF. Address changes cannot be made over the phone. Retirees and Inactive Members will need to send a written and signed request to change their address or complete a Change of Address form (CTPF Form 107) and return it to imaging@ctpf.org. All address changes for active CTPF members are reported through their employers' reporting system.

1099-R Mailing

The 2021 1099R mailing for pensioners will be sent by January 31, 2022, to the address on file at the CTPF on December 14, 2021. The forms will also be posted in the myCTPF Member Self Service Portal at the time they are mailed. If you need a replacement form, you are encouraged to create an account at myCTPF so that you can download it directly

As an added security measure, Social Security numbers on the forms will be truncated (***-**-1234). Replacing the first five numbers with asterisks will help protect member personal identifying information in accordance with Internal Revenue Service protocols. The electronic Form 1099-R sent to the Internal Revenue Service will include the full nine-digit Social Security number for matching purposes.

Save CTPF's Number in Your Contacts

In October and November CTPF sent out a recorded calls pensioners with timely updates. The calls originated from 312.604.1400. CTPF encourages members to save the office number, 312.604.1400 and Member Services number, 312.641.4464 in their contact list to avoid calls being marked as spam.

Pension Payment Schedule

CTPF encourages all members to switch to direct deposit. Download CTPF Form 425 and submit your documentation electronically to ensure the timely delivery of your benefits. The schedule for mailing checks and direct deposit dates through May 2022 is listed below. Click here for the full schedule.

Employee Contribution Reporting

Each pay period, Employers remit employee pension contributions to CTPF. Illinois law requires that these contributions be made within a certain time period. If the Employer does not send the funds within the required time, penalties may be assessed. Find the most recent list of delinquent employers here.

Lost Payees

CTPF is trying to contact members who are over age 70½, but who have not commenced benefits or taken a refund of their contributions. If you or someone you know is included on the Lost Payees Listing, please contact Member Services, 312.641.4464 or email memberservices@ctpf.org.

CTPF COVID-19 Information & Resources

CTPF is committed to doing our part to stop the spread of COVID-19. For the health, safety, and wellbeing of all CTPF Members, the Fund continues to deliver all member services remotely. The physical office remains closed to all but essential employees whose duties cannot be performed offsite. In-person services and counseling are suspended until it is safe to resume these operations.

CTPF has implemented the following changes for the health and safety of all:

• In-person appointments and services are suspended.
• Phone assistance, video counseling, and remote notarization appointments are available. Members should call 312.641.4464 or email memberservices@ctpf.org for assistance.
• US Mail processing may be delayed. Send benefit applications, forms, and documents by fax 312.641.7185 or email an attachment (.pdf or .jpg format) to imaging@ctpf.org to ensure prompt processing.

Learn more on the COVID-19 Response Page ctpf.org/covid-19.

All current meeting dates, office information, and upcoming event information can be found on the CTPF Calendar at ctpf.org/calendar.

CTPF BOARD OF TRUSTEES

Carlton W. Lenoir, Sr., Executive Director

_______________________________________________________________

STAY CONNECTED & SPREAD THE WORD



CTPF will continue to share information at ctpf.org on social media, in E-Lerts, and in E-News. 

We also encourage you to connect with CTPF on social media; many of CTPF's more than 89,000

members are active on either Facebook, Twitter, and LinkedIn.

Please consider forwarding this email to a friend who may be a fellow member or pensioner.

Register for email updates here.