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CTPF Provides $2.1 Billion Positive Impact to Illinois Economy

CTPF Releases 2023 Economic Impact Statement

The Chicago Teachers' Pension Fund (CTPF) announced the release of its 2023 Economic Impact Statement. CTPF made $1.5 billion in direct payments to annuitants living in Illinois in 2022. Those payments had a $2.1 billion impact on the Illinois economy, supporting more than 13,802 jobs in the State. The Buck Stays Here: Understanding the Economic Impact of CTPF Benefit Payments on the State of Illinois and the City of Chicago is produced annually and details CTPF's impact on the State of Illinois and the City of Chicago. The report includes economic impact by legislative district and Chicago ward. Read more here.

CTPF Welcomes Dr. Miquel A. Lewis to Board of Trustees

The Chicago Teachers’ Pension Fund (CTPF) is pleased to welcome

Dr. Miquel A. Lewis to the CTPF Board of Trustees.

“We welcome Trustee Lewis to the Board of Trustees,” said Carlton W. Lenoir, Sr., Executive Director. “We appreciate his passion for education and enriching the lives of students and look forward to working with him in the months ahead." Read more here.

CTPF to You: Educational Workshop

CTPF is hosting an educational workshop for Active Members in cooperation with the CTU Pension and Insurance Committee on Wednesday, May 17, 2023, at 4:30 p.m. The presentation will provide an overview of general pension information including:

• Know the Differences - Tier 1 vs. Tier 2 Benefits
• Ways to maximize your benefit
• Survivorship and Death Benefits

CTPF to Hold Trustee Elections This Fall

This fall, CTPF will hold elections for:

• Two Teacher Trustees to serve three-year terms from November 2023 - 2026
• Three Pensioner Trustees to serve two-year terms from November 2023 - 2025

Candidate nomination packets are now available. Contact Election Coordinator Gail Davis: 312.604.1400, ext. 402, or email elections@ctpf.org to request a packet. Visit Election Central to learn more.

2023 Retirement Webinars on Demand

CTPF members considering retirement in June were invited to attend a 2023 Retirement Webinar. These presentations provided a one-stop shop for retirement information, including a general overview of the CTPF and CPS retirement processes. The recording and presentation from the Retirement Webinar have been posted at ctpf.org/retirement-resources.

Retirement Counseling

Do you have questions or need retirement counseling? CTPF’s Member Services team offers phone, video, and in-person counseling appointments. Call Member Services at 312.641.4464 or send an email to memberservices@ctpf.org to schedule an appointment. Note: Walk-in appointments are not accepted. Visitors need to be added to the building's security list in advance of their visit.

Members visiting CTPF must present a valid, government-issue photo ID to the building’s security team. Proof of COVID-19 vaccination and a health screening form are required upon entry (form available here). Visit the Office Information page to prepare for your visit.  

Spring Town Hall Webinar

CTPF will offer a quarterly Town Hall webinar hosted by Executive Director Carlton W. Lenoir, Sr., on June 1, 2023, at 4 p.m. The webinar will offer general overview of Fund operations and offer reminders for the spring/summer. The webinar is expected to last about 40 minutes. Register at ctpf.org/calendar.

Retirees with Temporary Addresses

Retirees who have multiple addresses should file a temporary change of address form with CTPF. Address changes cannot be made over the phone. Retirees will need to complete a Change of Address form (CTPF Form 107 available upon request from Member Services) or make changes directly in the myCTPF member self-service portal. All address changes for active CTPF members are reported through their employers' reporting system.

2022 Health Insurance Rebate Reminder

Members who received and paid for health insurance coverage from another source between January 1-December 31, 2022, received a mailing detailing the process of applying for a health insurance premium subsidy. Applicants must complete and return Form 355. The deadline to submit applications is August 31, 2023 (with NO exceptions). 

2022 Health Insurance Rebate Webinar

CTPF offered a webinar that walked members through the process of applying for an outside rebate. The webinar was held on March 17, 2023 and March 23, 2023. The webinar presentation and recording are available at ctpf.org/health-insurance.

HIPAA Authorized Representative Form

If you want a family member to assist you with health insurance issues, you can submit a HIPAA Authorized Representative Designation form, available at ctpf.org or from Member Services. Your Authorized Representative may discuss your health insurance options, but cannot make care or treatment decisions.

Private Teaching Service Purchases

State certified teachers or administrators previously employed by a private school recognized by the Illinois State Board of Education who have 10 years of CTPF service, may be eligible to purchase private teaching service. The member must meet certain eligibility requirements, and complete CTPF Form 685. Applications for this service must be received prior to the deadline of May 13, 2024. Find more information here.

Register Today for CTPF's Member Self-Service Portal, myCTPF

The myCTPF Member Self-Service Portal includes new features for active and retired members:   

• View and update address information (if you are not currently contributing to CTPF). 
• View and update phone number and email addresses. 
• View your benefit status information. 
• View and download 1099-R and pay advice(s) (pensioners) 
• View and download your annual Member Statement if you have service credit with CTPF.  
• Request an estimate of your CTPF retirement benefit (if you meet the eligibility requirements). 

1099-R Form Now Available at myCTPF

The 2022 1099R Form was mailed to pensioners on January 31, 2023, to the address on file at CTPF on December 15, 2022. Forms are also posted in the myCTPF Member Self Service Portal. Create an account so that you can download it directly. 

Members are encouraged to register at myCTPF.org.

Pension Payment Schedule

CTPF encourages all members to switch to direct deposit. Call Member Services at 312.641.4464 to request a direct deposit form. The schedule for mailing checks and direct deposit dates through August 2023 is listed below. Click here for the full schedule.

Lost Payees

CTPF is trying to contact members who are over age 72, 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.

Calendar of Events

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

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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 90,000

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.

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