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Connect with us on Facebook
Take advantage of CTPF's social media presence to stay informed and up-to-date on important fund information.
Click here to go directly to CTPF's online registration page where you can register for e-mail updates.
CTPF online
 
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Snowbird Alert
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not forward benefit checks.
File a temporary address change with CTPF
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E-Mail Archive
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Click here for a complete listing of past E-Mail Updates and E-Lerts
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Why Bother with a Lame Duck?
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After the election, your representative or senator may not be returning to office in the Spring legislative session. He or she may be what's commonly referred to as a "lame duck" legislator.
These lame ducks, though, can be important when it comes to voting on controversial legislation. They may be called upon to take action on important issues in January BEFORE they leave office. It's important to communicate with your legislators even if they won't be returning. Make sure your voice is heard. |
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CTPF Launches
Retirement Readiness Website
If you're considering retirement within the next three to five years, click here to visit the new CTPF Retirement Readiness website.
"We encourage our members to start planning for retirement three to five years in advance of their anticipated retirement date," explained Frances Radencic, director of communications. "This website provides concrete steps our members can take, and offers resources to help ensure that our members are prepared for this process."
The new site was developed with extensive input from CTPF members and staff whose goal was to offer a one-stop shop for retirement questions and information.
The new, easy-to-navigate format offers quick links to frequently used services like the CTPF Pension Calculator, and includes check lists which outline the steps you can take to help facilitate the retirement process.
Resolved to Retire in 2013? 
If your New Year's resolution includes retirement, here are some steps you can take to get started with the retirement process.
- Call and request a pension estimate from Member Services, 312.641.4464.
- Consider scheduling a personal benefits consultation with a pension resource specialist. Specialists meet with members in 45 minute, pre-scheduled retirement consultations, available Monday - Friday from 8:00 a.m. - 3:30 p.m. These meetings offer the opportunity to discuss your retirement situation in depth. You should plan to bring a list of questions and relevant career information. Call Member Services, 312.641.4464 to schedule your appointment.
- Make sure you "like" us on Facebook and are signed up for e-mail updates. We'll send information about retirement seminars in January, but you'll hear it first on Facebook. Stay in touch!
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CTPF Hosts Latino Caucus
December 10, 2012, the Illinois Latino Caucus gathered at CTPF for a Pension Information and Education (PIE) seminar and spent the day learning about the facts, issues, and challenges facing pension funds.
The seminar was an a educational opportunity for Legislators of the Illinois Latino Caucus hosted by Illinois Representative Maria A. "Toni" Berrios, Illinois Senator Antonio Muñoz, and the Chicago Teachers' Pension Fund, with special assistance from Illinois Representative Esther Golar.
"This was our second PIE seminar this year and we were excited to bring this learning opportunity to the Latino Caucus," commented Kevin B. Huber, executive director. "The event was well received by caucus members, and we want to thank Representative Berrios, Senator Muñoz, and Representative Golar for their support of this event."
CTPF Preliminary Audit Reveals Reporting Irregularities 
December 14, 2012, Chicago Teachers' Pension Fund recently conducted a preliminary audit of a sample of charter school employers to determine compliance with Illinois law regarding pension contributions. "We need to ensure an adequate retirement for charter school members, just as we do for members at all other CPS schools," said
Jay C. Rehak, president of the CTPF Board of Trustees. Rehak continued, "I am dismayed that our preliminary review indicated a number of reporting irregularities and found that more than 30% of Charter Schools are chronically late in making their required contributions on behalf of our members. Based on these results, the CTPF Board of Trustees has authorized a comprehensive audit of all 108 charter schools." Though CTPF was properly funded by teachers and their employers from the fund's inception in 1895 through 1995, it has suffered during the last two decades from a chronic underfunding by its primary employer, the Chicago Board of Education (BOE). A lack of adequate employer contributions and pension funding "holidays" have resulted in a $3.2 billion loss for the fund since 1995. This funding deficit is a primary reason CTPF's funded ratio has fallen to 59% in 2011, from 100% in 2002. "CTPF is a well-managed fund, and we want to make sure that the problems we've seen with our primary employer don't spread to our other employers," explained Rehak. A comprehensive audit will be initiated immediately and final results are expected next year. Efforts to recover past-due and inaccurate funds will be pursued on a case-by-case basis.
CTPF Settles Pension Overpayment Lawsuit
CTPF signed a settlement agreement with the Chicago Board of Education that ended a seven-year lawsuit alleging the overstatement of pension benefits. CTPF recently notified approximately 3,600 retirees who retired between June 2000 and August 2004 that their pensions were overstated, and that this settlement may impact their benefits. CTPF held five information sessions in November and December to educate members affected by the settlement. "We believe that this settlement is in our members' best interest," explained Kevin B. Huber, executive director. "We're relieved that this agreement ends seven years of costly litigation."
The fund audited accounts and calculated corrected pensions for members impacted by the settlement. Additional information regarding the settlement and a list of Frequently Asked Questions are available at www.ctpf.org. If you received a letter notifying you of the overpayment and have additional questions specific to your situation, please call CTPF Member Service at 312.641.4464.
New Titles for Member Services Counselors and Field Service Reps
The Member Services department has announced a change of name for Member Services Counselors and Field Service Representatives. As of December 15, 2012, these employees will be called pension resource specialists. Job descriptions for these employees have not changed. The new titles more accurately reflect the work done by these employees. The titles will also help differentiate between CTPF Field Service staff and the Chicago Teachers Union Field Representatives, who handle grievances.
Federal Benefit Payments Go Direct 
The U.S. Department of the Treasury now requires all federal benefit and nontax payments to be paid electronically. If you currently receive a paper check for a federal benefit payment (social security or veterans benefits), you must switch to an electronic option by March 1, 2013.
If you do not switch to an electronic deposit, your payment will be made to a Direct Express Debit MasterCard.® If you already receive benefit payments electronically, you do not need to take action. Your payment will continue as usual. If you have not yet switched to an electronic payment for federal payments, contact Go Direct at
1-800-333-1795.
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Your Pension Matters
- become a CTPF Ambassador and share the message
A lack of State and Employer funding has drained resources from our fund. We're asking our members to speak up and reach out to help Illinois legislators understand that pension funding is
vital, not optional.
We've developed the Pension Fund Ambassador program to encourage our members to educate lawmakers and decision makers about the Chicago Teachers' Pension Fund, our members, and the fund's legislative priorities. We want legislators to understand the people behind the pensions, and to hear the facts about the fund straight from our members. Ambassadors are already having an impact, sharing our message with legislators through our legislative action center and in person.
Join Today
We hope you will join the Ambassador program. More than 500 CTPF members have already signed up for the program and we're hoping to welcome many more members. There are two easy ways to join:
Tell a Friend
We encourage you to tell a friend about our programs and to encourage them to participate.
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Legislative Action Center helps Share the Message
CTPF launched our Legislative Action Center to help CTPF members communicate with lawmakers. When you visit the Legislative Action Center you can look up your elected representatives by typing in your zip code, send an e-mail directly to your legislators, and find out more about CTPF legislative efforts. If you register at the Legislative Action Center, you will be enrolled in our new CTPF Pension Fund Ambassador program (find more information below).
Click here to visit the new Legislative Action Center
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Planning to Visit? Plan ahead...
If you are planning a visit to CTPF to meet with a Member Services Counselor, it's always a good idea to schedule an appointment. Scheduled appointments with Pension Resource Specialists are available Monday through Friday from 8:00 a.m. to 4:00 p.m.
Walk-ins are accepted on a first-come, first-served basis, between 9:00 a.m. and 3:00 p.m., but wait times will vary and may be lengthy during busy periods. Walk-in visitors cannot be accommodated after 3:00 p.m.
If you do not schedule an appointment in advance, arrive after 3:00 p.m., or need questions answered related to your specific retirement situation, you may need to return for a follow-up appointment.
Call 312.641.4464 to schedule an appointment.
CTPF is located at 203 North LaSalle Street, suite 2600, Chicago, Illinois 60601-1231
Parking and Transit Information
The 203 North LaSalle building has a self-park garage. Garage entries are located on Lake Street between LaSalle Street and Clark Street and on Clark Street between Wacker Drive and Lake Street (look for self-park signs at entrances). Reduced parking vouchers, available from the CTPF office, can be bought for $15, (check only, no cash).
The 203 North LaSalle building has direct access to the CTA. The CTA's blue, green, brown, pink, purple, and orange lines all stop at Clark and Lake. Follow the signs to the 203 North LaSalle building when you exit the train.
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CALENDAR
January
1 New Year's Day holiday, office closed
17 9:30 a.m. CTPF Board of Trustees Meeting
21 Martin Luther King, Jr. birthday observed, office closed
February
12 Lincoln's Birthday, office closed
18 Presidents' Day, office closed
21 9:30 a.m. CTPF Board of Trustees Meeting
March
4 Casimir Pulaski Day, office closed
21 9:30 a.m. CTPF Board of Trustees Meeting
April
16 9:30 a.m. CTPF Board of Trustees Meeting
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CTPF MISSION STATEMENT
To provide, protect, and enhance the present and future economic well being of members, pensioners and beneficiaries through efficient and effective management of benefit programs, investment practices and customer service, and to commit to earning and keeping the respect and trust of the participants through quality service and by protecting retirement benefits, in compliance with applicable laws and standards.
CTPF BOARD OF TRUSTEES
Jay C. Rehak, president
Lois W. Ashford, vice president
Tina Padilla, financial secretary
Raymond Wohl, recording secretary
Jeffery Blackwell
Jeanne Marie Freed
Walter E. Pilditch
Mary Sharon Reilly
Rodrigo A. Sierra
Jerry Travlos
James F. Ward
Andrea L. Zopp
Kevin B. Huber, executive director
Office/Mailing Information
Chicago Teachers' Pension Fund
203 North LaSalle Street, suite 2600
Chicago, Illinois 60601-1231
312.641.4464 p.
312.641.7185 f.
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