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 & SECURE 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 receivedand approved by the CTPF office. The form must be received by CTPF prior to the members death. Life events like marriage, divorce, and a death of a spouse 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. CHANGE OF ADDRESS & DIRECT DEPOSIT FORMSCTPF Change of Address (107) and Direct Deposit (425) forms are available in the myCTPF portal or from Member Services, 312.641.4464. Identity will be confirmed before the forms are issued. A CTPF Member ID will be used as the primary method of identity confirmation, and additional security questions will be required. Annuitants can find their CTPF Member ID on a pay advice. If you need to make a change to your address information, please be aware of the cut-off dates, published at ctpf.org. Changes received after the cut-off date will be processed the following month. Email addresses and phone number changes can be made on the myCTPF portal or taken over the phone, following confirmation of personal identity. For any questions about address changes, please contact Member Services, 312.641.4464.4'