b'AVOID COSTLY MISTAKES WITH MEDICAREMembers who qualify for Medicare must make Medicare Part B payments directly to FINANCIALMedicare and will receive a monthly or quarterly bill unless you receive a Social Security benefit, Participate in CTPFs MedPay program (for Part B or IRMAA B), or SNAPSHOT Sign up for Medicares Easy Pay programIf you fail to pay your Medicare Part B bill promptly, you will be disenrolled by RETURN ON INVESTMENTS Medicare and lose your CTPF Health Insurance coverage. Reinstatement is very difficult and may result in additional penalties. You may not be able to reinstate As of June 30, 2023 coverage. The best way to avoid being disenrolled is to set up the Medicare Easy Pay Option available when you create an account at Medicare.gov. Find additional information in the 2024 Health Insurance Medicare Handbook or contact Member services at memberservices@ctpf.org or 312.641.4464 with questions. Net RateTotal Fund of Return Benchmarks PART D IRMAA PAYMENTS Members with gross income exceeding certain amounts set by 1 Year 8.68%9.53% Medicare must pay a monthly Income Related Monthly Adjustment Amount (IRMAA) for Medicare Part B and Part D coverage premiums. 3 Year 8.44%7.37% If you are impacted by IRMAA, you must pay your Medicare Part D IRMAA payments* directly to Medicare.5 Year6.94% 6.38%Due to government regulations, CTPF is not allowed to pay Part D IRMAA even if 10 Year7.73%7.29%enrolled in CTPFs MedPay program. 25 Year 6.46%6.14% If you fail to pay your Medicare Part D IRMAA bill promptly, you will be disenrolled by Medicare and lose your CTPF Health Insurance coverage. Reinstatement is difficult and may result in additional penalties. Members must call Medicare to assist with reinstatement.2018 SET IT AND FORGET IT1614 The best way to avoid being disenrolled is to set up the Medicare Easy Pay Option. 1210 Log into your online account at Medicare.gov and set up Medicare Easy Pay for your 8 Part B (and IRMAA B and/or IRMAA D) payment(s) so you never have to worry again.642 Find additional information in the Health Insurance Medicare Handbook or contact 0-2 Member services at memberservices@ctpf.org or 312.641.4464 with questions.-4-6 1 Year 3 Year 5 Year10 Year25 Year -8-10 *IRMAA is Income Related Monthly Adjustment for Medicare Part B -12 and Part D beneficiaries with higher incomes.-16-18-20 Rate of ReturnTotal Fund BenchmarksCTPF EXECUTIVE DIRECTOR RECOGNIZED BY CRAINS CHICAGO BUSINESS CTPF is proud to announce that Executive Director, Carlton W. Lenoir, As of June 30, 2023, Sr., has been honored as one of Crains Chicago Business 2023 Notablethe approximate value ofLeaders in Finance. This recognition highlights Lenoirs exceptionalCTPFs investments wasleadership, dedication, and contributions to the financial sector in Chicago.$11.9 billion. Carltons recognition is well-deserved. His dedication to the Chicago TeachersPension Fund and his exceptional skills have earned the respect of all CTPF stakeholders, said Jeffery Blackwell, President of the CTPF Board of Trustees. His inclusion in this list is a testament to his leadership and commitment to the welfare of our members. We are honored to have him lead our organization.A results-oriented pension fund professional with over 34 years of executive and operational experience, Lenoir began his career at CTPF, serving as an Active Accounts Counselor and worked his way up to management. He went on to hold leadership roles with public pension plans in Georgia and Central Illinois before returning to CTPF as Executive Director in 2021 following a national search. 6 His experience includes all phases of public pension fund administration.'