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CTPF Special Board of Trustees Meeting March 31, 2020

There will be a Special Meeting of the Board of Trustees of the Public School Teachers’ Pension and Retirement Fund of Chicago, on Tuesday, March 31, 2020, at 9:30 a.m. Due to the COVID-19 emergency, and in accordance with the temporary changes to the Open Meetings Act, this meeting is being conducted via audio/video conferencing.

Public participation will be available at the beginning of the meeting. The agenda and meeting materials are available through the BoardDocs meeting system. 

This meeting will be conducted by Zoom videoconference.

CTPF Portfolio Manager- Private Equity Andrew Kelsen recognized as one of Trusted Insight’s 2020 Top 30 Pension Private Equity Investors

CTPF COVID-19 Launches Information Page

Town Hall Webinar Available Online

Nearly 500 members registered for our Spring Town Hall Webinar, conducted by CTPF Executive Director, Chuck Burbridge on Wednesday, March 18, 2020.  The program featured an overview of the fund and provided operational updates.

Members who missed the live webinar can view a recorded version here. 

Webinars are offered throughout the year. Notice is included in monthly E-news, on the calendar page, and on social media. Make sure you are signed up for email updates from the Fund, and follow us on social media.

Members Encouraged to Submit Documents Electronically

Given the uncertainties with the COVID-19 outbreak, CTPF is advising all members to submit documents electronically. If you are submitting your retirement application, change of address, direct deposit authorization, or other forms, the best way to send documents is by Fax 312.641.7185 or email a .pdf to imaging@ctpf.org. 

A majority of CTPF members are working remotely and sending documents electronically ensures that we will process them as quickly as possible.

CTPF Health Insurance Plan Updates

The impact of COVID-19 is evolving and CTPF’s healthcare providers are changing their benefits to provide additional services to members.

Healthcare Updates for CTPF Plan Enrollees

Resources are available to CTPF Members and their dependents enrolled in CTPF health insurance plans. All insurance carriers have  waived all member cost sharing, including copays, coinsurance and deductibles,for COVID-19 diagnostic testing.

Pharmacy Benefits

UHC Medicare Advantage PPO and UnitedHealthcare AARP Medicare Supplement Plan F members can transfer prescriptions for chronic conditions to the mail order pharmacy provider, Express Scripts Pharmacy (ESI), where they can obtain 90-day supplies delivered directly to their home, and have access to ESI pharmacists 24/7. Call 1.800.864.1416 or visit www.Express-Scripts.com/medd/ctpf for information. Members may also access 90-Day supplies at retail pharmacies. 

Direct Deposit and Electronic Form Submission Encouraged

Submit Documents Electronically

Members who wish to submit a form or documentation to CTPF are encouraged to Fax to 312.641.7185 or email a .pdf to imaging@ctpf.org materials as soon as possible.

Switch to Direct Deposit

Given the uncertainties with the COVID-19 outbreak, CTPF is advising all members who receive benefit checks to sign up for direct deposit as soon as possible in an effort to ensure timely benefit payments.

To initiate direct deposit, you must complete and return CTPF Form 425 with the required documentation. Forms must be received by April 15, 2020, or sooner for May benefit payments. Given the current uncertainty, we encourage you to send in your form as soon as possible.

CTPF Operations Update

t has been an eventful few weeks with public attention worldwide focused on the novel coronavirus (COVID-19) pandemic. We recognize this may be causing concern, and we want to let you know about our approach. We prioritize the wellbeing of our members and staff. We consult information provided by health agencies such as the Illinois Department of Public Health and the national Centers for Disease Control and Prevention (CDC) who provide guidance about preventative actions to help prevent the spread of any respiratory disease. We also reference the policies and practices of organizations similar to CTPF.

Member Payments

We have procedures in place to ensure the regular payment of member benefits, even if normal business is interrupted. Also, be reminded that CTPF pensions are secure and are not based on market conditions.

Webinars Replace 2020 Retirement Seminars

CTPF Celebrates Quasquicentennial Anniversary in 2020

Town Hall Webinar Registration Available

2020 Education Sessions for Chicago Teachers’ Pension Fund UnitedHealthcare® Group Medicare Advantage (PPO) Plan Members

Searching for a New Opportunity?

A new year brings new opportunities. If you’re looking for a new job, consider joining our talented team at the Chicago Teachers’ Pension Fund (CTPF). Our Chicago-based group is looking for qualified candidates with a variety of abilities and skills, and we have multiple positions available.

CTPF is an Equal Opportunity Employer which offers a competitive salary and benefits package. CTPF is an Illinois reciprocal system. Find a complete list of job opportunities here.  

CTPF 2020 Trustee Election Packets Available

This fall, CTPF will hold an election for:

• Two (2) Teacher Trustees to serve three-year terms from 2020-2023 (voting available November 2-6, 2020).

Nominating packet are now available.

Teacher Trustee Candidate Eligibility

CTPF will close for President's Day

The CTPF office will be closed on Monday, February,17, 2020, in observance of President's Day. The office will reopen at 8:00 a.m. on Tuesday, February,18, 2020. 

Find a complete list of public meetings, events, and observed holidays on the calendar page. 

Retirement is the Gift that Keeps on Giving

Thinking about Retirement?

Thinking about your future retirement? Your pension is an important part of your future retirement security.

Chicago Teachers’ Pension Fund (CTPF) members earn a guaranteed pension for life, based on your tier level, final average salary, CTPF years of service, and a pension multiplier (currently 2.2% for service earned on July 1, 1998 or after).

CTPF offers a pension calculator which can give you a general estimate of what your pension income would look like. Enter your basic information including the date you first contributed to CTPF or a qualified reciprocal system, your age and final average service at retirement, years of service and estimated age at retirement and  the calculator will give you an idea of what your future retirement income could look like.

2019 1099-R Mailings

Form 1099-R reports the distribution of pension benefits. CTPF will mail Form 1099-R to all retired members by January 31, 2020.

Security Enhancement for 1099-R Forms

As an added security measure, Social Security numbers on 1099-R forms issued in 2020 will be truncated (***-**-1234). Replacing the first five numbers with asterisks will help protect member personal identifying information in accordance with Internal Revenue Service protocols. The electronic Form 1099-R sent to the Internal Revenue Service will include the full nine-digit Social Security number for matching purposes.

Retirement Seminar Registration Now Available

CTPF members considering retirement in 2020 are invited to join CTPF at one of our 2020 retirement seminars.

Registration for all seminars is now available. 

These seminars provide a one-stop shop for retirement information, including a general overview of the CTPF and CPS retirement processes. CTPF's Member Services department will be available at all seminars to answer individual questions, assist with completing forms, and provide notary services. 

CTPF Celebrates its Quasquicentennial Anniversary in 2020

The Chicago Teachers’ Pension Fund (CTPF) is celebrating its quasquicentennial (125th anniversary) in 2020. CTPF will commemorate this milestone of serving members, constituents, community, and citizens of Illinois with distinction with activities for members and a dedicated CTPF125 digital presence – using the hashtag #CTPF125 on social media. 

CTPF Trustees launched the anniversary year by passing a resolution on January 16, 2020, in honor of their 125th Anniversary. Click here to read the resolution.

The quasquicentennial provides a unique opportunity to reflect on the rich history of the Fund and renew CTPF’s commitment to helping teachers from the very first day to the very last and beyond. The projects and events will highlight how CTPF has helped to shape the lives of Chicago Public School teachers, recognize the dedication of its members to their students and profession, and bring members together.