b'CTPF FUNDING UPDATECPS CTPF BOARD OFCTPF funds pensions through revenue returnedPropertyTRUSTEES UPDATES on investments and four external sources, theContr. TaxMember CTPF WELCOMES TRUSTEE PEDRO BEIZA Chicago Board of Education (CPS), the StateState of of Illinois, property tax levy, and memberIllinois During their May 16, 2024, meeting, the CTPF Board of Trustees voted to appoint contributions. CTPF received about $1.0 billion inPedro Beiza to fill the vacant Principal/revenue for fiscal year 2024 (as of June 30):Administrator Trustee position created by the resignation of $308.1 million from State of Illinois for Normal cost andTrustee Jerry Travlos. Trustee Beiza took the oath of office health insurance contributions, paid in full. during the meeting and will serve until the next election $14.6 million statutorily required contribution paid inscheduled for November 2024. full by State of Illinois. We welcome Trustee Beiza to the Board of Trustees, said $699.8 million due from Chicago Board of EducationCarlton W. Lenoir, Sr., Executive Director. We appreciate his (CPS) with $94.6 million paid by CPS and $351.9 millionwillingness to serve our members and look forward to received in property tax receipts. working collaboratively with him in the months ahead. The balance is expected this fall. TRUSTEE TRAVLOS RECOGNIZEDFUNDED RATIO During their June 20, 2024, meeting theCTPFs funded status is calculated by the Funds actuary once aCTPF Board of Trustees recognized Principal/year, and the next report will be available this fall.Administrator Trustee, Dr. Jerry Travlos, with a Distinguished Service Award. Dr. Travlos CTPF PENSIONSserved as Principal/Administrator Trustee for When members vest, they qualify for a lifetime pension,more than a decade, from July 2012guaranteed by the Illinois Constitution. Pensions are determinedMarch 2024. by a formula, and do not change with market conditions.President Jeffery Blackwell presented the award and FINANCIAL & INVESTMENTS REPORTS concluded with We are all grateful for his dedicated CTPF is committed to fiscal transparency. Audited financialservice, thoughtful leadership, and guidance throughout his statements, actuarial, and investment reports can be found atdistinguished tenure. We will miss him greatly and wish him ctpf.org/financial-investment-reports. the best.STAY UP-TO-DATE & INFORMED IS YOUR BENEFICIARY DESIGNATION UP-TO-DATE?The survivor and death benefits provided by CTPF are an important part of a familys financial future. CTPF uses Form 105, a Designation of Beneficiary form to determine who receives any available lump-sum death benefit or refund of contributions. The designation does not affect or determine survivor pension benefits, which are only payable to an eligible spouse or minor child. A member may change the designation at any time by submitting a new CTPF Form 105. The designation form becomes effective when the original signed and notarized form is received and approved by the CTPF office. The form must be received by CTPF prior to the members death. Life events like marriage, divorce, and birth of a child can affect who you want named as your CTPF beneficiary, so be sure to update your information as necessary. Find the form atctpf.org/designate. CTPF TO YOU WEBINARS CTPF is partnering with the CTU Pension/Insurance Committee for educational work-shop for members. The workshop will be presented by CTPF and will cover generalpension information. Time at the end for Q and A will be provided. The next webinar is scheduled for November 13, 2024, at 4:30 p.m. Register at ctpf.org/calendar. STAY IN TOUCH CTPF emails a digital newsletter twice a month to all members, along with periodic time-sensitive announcements. Please do not unsubscribe from CTPF emails. If you have unsubscribed and need to re-subscribe, please visit ctpf.org/sign-updates. CTPF may occasionally send out a recorded message with timely information. Calls will come from 312.641.4464. Please add this number to your contacts to avoid having calls marked as spam.5'