This Fall, CTPF will hold elections for: 

• Two (2) Teacher Trustees to serve three-year terms from November 2023 – November 2026 

• Three (3) Pensioner Trustees to serve two-year terms from November 2023 – November 2025 

The CTPF Board of Trustees gathered on Thursday, September 21, 2023, for their monthly meeting to conduct the business of the Fund. One of the first orders of business was to recognize former Trustees with a distinguished service award presented to Miquel A. Lewis, who served as a Trustee in 2023. Trustee Miguel del Valle was also recognized for his service to the Fund, and both former Trustees will receive plaques in recognition of their contributions to CTPF and its members. 

Registration for Open Enrollment Week is now open. CTPF will host a week of webinars and audio presentations the week of October 2-6. Morning presentations will be webinars with a full audio-video presentation that can be viewed from any internet-connected device. Two presentations will be audio only for individuals who do not have access to the internet. Register for all webinars and find dial-in information by clicking on the date at www.ctpf.org/calendar. 

Thinking about your future retirement? Your pension is an important part of your future retirement security. CTPF members enjoy a guaranteed pension for life. The calculator can help you estimate your monthly CTPF pension income at retirement. ctpf.org/calculator 

This Fall, CTPF will hold elections for: 

• Two (2) Teacher Trustees to serve three-year terms from November 2023 – November 2026 

• Three (3) Pensioner Trustees to serve two-year terms from November 2023 – November 2025 

Registration for Open Enrollment Week is now open. CTPF will host a week of webinars and audio presentations the week of October 2-6. Morning presentations will be webinars with a full audio-video presentation that can be viewed from any internet-connected device. Two presentations will be audio only for individuals who do not have access to the internet. Register for all webinars and find dial-in information by clicking on the date at www.ctpf.org/calendar. 

Do you have questions or need retirement counseling? CTPF’s Member Services team offers phone, video, and in-person counseling appointments. 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 for an in-person appointment 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 ctpf.org/office-information to prepare for your visit. 

The Chicago Teachers’ Pension Fund (CTPF) submitted its fourteenth annual report on Illinois Economic Opportunity Investments, as provided by PA 096-0753 of the Illinois Pension Code, to the Governor and the General Assembly. As of June 30, 2023, CTPF employed 16 Illinois-based investment managers who managed assets with a market value of $2.2 billion. These assets represented 18.7% of CTPF’s investment portfolio. The Trustees of CTPF adhere to an informal policy of selecting Illinois-based managers, with all other factors being equal, and utilizes investment opportunities to contribute to the growth of the Illinois economy.  

This Fall, CTPF will hold elections for: 

• Two (2) Teacher Trustees to serve three-year terms from November 2023 – November 2026 

• Three (3) Pensioner Trustees to serve two-year terms from November 2023 – November 2025 

The Chicago Teachers’ Pension Fund Board of Trustees has declined to take further action on an investment opportunity in the Sterling Bay Lincoln Yards development. The Board had considered hiring an consultant to conduct additional due diligence into the opportunity, but declined to make the motion to do so during their August 17, 2023, meeting. 

The Chicago Board of Education has appointed Tanya Woods to the Chicago Teachers’ Pension Fund (CTPF) Board of Trustees. Trustee Woods was sworn in during the Board of Trustees meeting on August 17, 2023. Woods’ term will run through October 31, 2023, and includes a reappointment on November 1, 2023, for a term ending in January 2025. 

The Chicago Teachers' Pension Fund (CTPF) is proud to announce that its Executive Director, Carlton W. Lenoir, Sr., has been honored as one of Crain's Chicago Business' 2023 Notable Leaders in Finance. This recognition highlights Lenoir's exceptional leadership, dedication, and contributions to the financial sector in Chicago. 

This summer, The Chicago Teachers’ Pension Fund (CTPF) partnered with the Chicago Summer Business Institute (CSBI) to welcome three interns to its team.  

“As we welcomed Danisa, Isabella, and Amir to CTPF, I was filled with optimism for the future. This was not just an opportunity for them to learn and grow, but also a chance for us to learn from them," said CTPF Executive Director, Carlton Lenoir, Sr. “We appreciate the work and contributions that our interns had this summer and look forward to continuing our partnership with CSBI.” 

Members who received and paid for health insurance coverage from another source between January 1-December 31, 2022, recently 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). 

Members with gross income exceeding certain amounts set by Medicare must pay a monthly Income Related Monthly Adjustment amount (IRMAA) for Medicare Part B and Part D coverage premiums. If you are impacted by IRMAA, you must pay your Medicare Part D *IRMAA payments directly to Medicare. 

Members who qualify for Medicare must make Medicare Part B (with or without *IRMAA B) payments directly to Medicare and will receive a monthly or quarterly bill unless you: 

• Receive a Social Security benefit, 

• Participate in CTPF’s MedPay program (for Part B or IRMAA B), or 

• Sign up for Medicare’s Easy Pay program  

If you fail to pay your Medicare Part B bill promptly, you will be disenrolled by 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 coverage. 

Members who participate in the AARP Medicare Supplement Plan F (UnitedHealthcare) recently received a letter from UnitedHealthcare (UHC) with information regarding a June 1, 2023 rate increase. Plan F premiums are based on age, gender, vary by geographic area, and are determined directly by UHC. 

The increases range from $0.28 to $17.29 per month and vary by individual situation. A majority of participants will have rate increases of $6.24 or less. The new rate quoted by UHC does not include a CTPF member’s 60% health insurance premium subsidy or the cost of the Express Scripts Medicare Part D pharmacy benefit. 

The following chart shows the average rate that members will pay by age group. 

AARP Medicare Supplement Plan F (UnitedHealthcare) with Express Scripts Medicare Single Coverage