b'When a retiree dies, prompt notification to CTPF allows survivor pensions and lump-sum death benefits to be processed without delay. Notification is usually made by family or friends, but CTPF also receives reports from the Illinois Department of Health and other sources. Occasionally, deaths go FEBRUARYunreported and pension payments continue until CTPF is informed, resulting in a Death5 Investment Committee Meeting | 9:30 a.m. Overpayment. The Fund often recovers these overpayments from the members bankInvestment Committee First Look account or by using death benefits to offset them. Meeting |1:00 p.m.In rare instances, a relative or another individual with access to the members bank16 Presidents Day, Office Closedaccount may improperly take a payment(s). Regardless of any belief that they are entitled to pension benefits, this may constitute fraud and may result in criminal charges MARCH if there is intent and a significant amount is involved. 5Investment Committee Meeting | 9:30 a.m. CTPF has three Death Overpayment cases currently under criminal investigation. 1 11Medicare Birthday Party Webinar Recipient A illicitly received approximately $362,000; a warrant for their for Members Turning 65| 1:30 p.m.arrest has been issued, and the matter has been referred to the 19 Board of Trustees Meeting | 9:30 a.m. Attorney Generals Office.APRIL Recipient B received approximately $101,000 illegally and is awaiting prosecution by the Attorney Generals Office. 1 Nomination packets available for 2026Recipient C received about $586,000 illegally and is currently being CTPF Trustee Electionsprosecuted by the Attorney Generals Office, with a trial scheduled 9 Investment Committee Meeting | 9:30 a.m.in 2026. Investment Committee First Look Meeting |1:00 p.m. CTPF Trustees have prioritized the collection of overpayments and have implemented policies designed to ensure that this type of fraud is detected early and prosecuted MAYwhen warranted, said Daniel J. Hurtado, Chief Legal Officer. CTPF will not hesitate7 Investment Committee First Look to pursue legal action and involve law enforcement when necessary to protect our Meeting | 9:30 a.m. members assets and uphold the integrity of the Fund. Health Insurance Committee [1] To protect ongoing investigations or prosecutions, recipient names are not disclosed. Meeting | 1:00 p.m. These significant legacy overpayments occurred many years before CTPF improved itsFinance Committee Meeting |3:30 p.m.Death Overpayments screening methods. 13Medicare Birthday Party Webinar forMembers Turning 65 | 1:30 p.m.21 Board of Trustees Meeting | 9:30 a.m.25 Memorial Day, Office ClosedSince 2004, the amount that CTPF can spend on retiree health insurance has beenMeeting times or dates may change. Find capped at $65 million annually, which now covers 60% of premiums. This cap has nota full list including committee meetings, kept pace with health care inflation or the growing number of retirees, up over 40%meeting access, event registration, and since 2004. Health insurance costs have surged, with a 33% increase from 2017 to 2020. confirm meeting times and dates at Action by the Illinois legislature is required to raise the spending cap. SB 1893/ HB 4396ctpf.org/calendar.proposes raising the annual subsidy cap to $100 million and indexing future increasesCTPF provides a remote attendance to inflation, protecting retirees from dramatic cost hikes and coverage disruptions. Theoption. Individuals who wish to attend in bill is supported by all major CTPF constituent groups including the Retired Teachersperson must register in advance and have a government issued photo ID available Association (RTAC) and the Chicago Teachers Union (CTU).to present to building security. Find information at ctpf.org/calendar. WHY SB 1893/ HB 4396 MATTERS All meetings are recorded and posted Without this funding, it will be harder to keep health insurance affordable for retirees.at ctpf.org.SB 1893/ HB 4396 is our chance to Secure Our Subsidy (SOS), a call to action to safeguard the benefits CTPF members have earned. On October 15, 2025, the Illinois Senate Pensions Committee held a subject matterChicago Teachers Pension Fund 425 S. Financial Place | Suite 1400hearing on SB 1893, sponsored by Senator Robert F. Martwick (D). This critical billChicago, IL 60605-1000increases the retiree health insurance premium subsidy, protecting the health and312-641-4464 | fax: 312-641-7185financial security of Chicagos retired teachers.ctpf.org | memberservices@ctpf.orgContinued on page 4 Hours: 8:00 a.m.5:00 p.m. | M-F3'