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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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Heading back from a warmer climate? If you're returning from a winter in the south, remember to update your address 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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UPDATE: The Buck Stays Here
 The dialogue on pension reform often leaves out one of the most important factors in the pension equation - economic activity. We know that dollars paid out to our pensioners in Illinois stay here, generating jobs and economic activity for our state.
We've quantified this information in our report, The Buck Stays Here, updated for the 98th Legislative session. The news comes as no surprise - pension dollars continue to provide an economic engine which supports more than 11,500 jobs in Illinois.
Click here to download: The Buck Stays Here: Understanding the Economic Impact of CTPF Pensions
This report examines the impact that CTPF educators have outside the classroom, and the benefits pensions offer the economy of the City of Chicago and the State of Illinois.
Our study found that about 85% of CTPF retirees live in the State of Illinois, and about half of those members live in the City of Chicago. CTPF benefit payments provide:
 $1.06 billion in direct benefit payments to retirees in the State of Illinois
$1.55 billion in total economic impact in the State of Illinois
$547 million in benefit payments to retirees in the City of Chicago
$799 million in total economic impact on the City of Chicago
Pension benefit payments and their ripple effect help create markets and jobs. Pensions generate:
11,585 jobs in the State of Illinois, including
5,968 jobs in the City of Chicago
Pensions Matter - Economic Impact by Legislators
We have broken down the impact that pensions have on our economy by legislative district in Illinois and created an individual sheet for each senator and representative. You can download a sheet for your legislators, fill in your contact information, and share it with lawmakers.
This is a sample of the individual information sheet that CTPF has created Find your legislators' information on our
Make your own impact on legislators by printing out and personalizing these documents for your local lawmakers. Pensions Matter - tell your legislators. |
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Retirement Roundup
June is just around the corner. More than 500 members attended CTPF's winter retirement seminars held in February and March.
"We always enjoy the chance to interact with our members and to help them through this important stage of their lives. It is important
to remember that retirement is a process that takes time to complete. If you plan to retire this June and have not started the application process, we encourage you to start now to ensure a smooth transition,
" said Frances Radencic, director of CTPF Member Services.
If you did not attend a retirement seminar, but plan to retire in June, start the process now....
- 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. Stay in touch!
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2013 Board of Trustee Elections Nomination Packets
Nomination packets for 2013 Board of Trustee Elections will be available on May 1, 2013.
This fall CTPF will hold elections for:
Two Teacher Trustees to serve from November 2013-2016
One Principal/Administrator Trustee to serve from November 2013-2016
Three Pensioner Trustees to serve from November 2013-2015
Election dates will be published in the spring/summer issue of Pension News and in upcoming issues of E-News.
Candidate Eligibility
Teacher Trustee
A candidate for Teacher Trustee must be a current contributor, hold an Illinois state teaching certificate, and must have been employed in the Chicago Public Schools or charter schools a minimum of 10 years
Principal/Administrator Trustee
A candidate for Principal/Administrator Trustee must be a current contributor:
employed in a position that requires a Type 75 Certificate issued by the State Teacher Certification Board,
not on the Chicago teachers' or the Chicago charter school teachers' salary schedule, or
paid on an administrative payroll
Pensioner Trustee
A candidate for Pensioner Trustee must be a service or disability pensioner receiving a monthly pension payment from CTPF.
Nomination Packets
Nomination packets will be available on May 1, 2013. Members interested in running for office should contact the CTPF Election Team at 312.604.1400 ext. 132 or 169 to request a packet. Candidate eligibility will be verified before the packet can be issued. Completed nomination packets must be returned by 5:00 p.m., Tuesday, October 1, 2013.
Additional Information
Election questions may be directed to the CTPF Election Team at 312.604.1400 ext. 132 or 169.
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CTPF Legislative Priorities
for 98th General Assembly 
98th General Assembly
Illinois 98th General Assembly has convened in Springfield and over the coming weeks, lawmakers will consider many issues including pension reform. You may have new representatives in Springfield who are unfamiliar with the facts about CTPF, so now is a great time to reach out and send an e-mail. You can do this quickly and easily through our Legislative Action Center.
CTPF Trustees Set Legislative Priorities for 98th General Assembly
During their February meeting, the CTPF Board of Trustees approved a legislative agenda for 2013. You can track this legislation at our Legislative Action Center.
Following are CTPF's legislative priorities:
1. SB 1523/HB 2583 Accountability for charter schools Sponsored by Senator Martin A. Sandoval and Representative Daniel J. Burke
Summary: Provides stricter requirements for charter schools that are delinquent in payroll submissions and holds charter schools accountable for making timely payroll contributions on behalf of all certified employees. The legislation also requires each school to appoint a pension officer.
Rationale As the number of charter schools grows, they have a greater impact on the health of the Chicago Teachers' Pension Fund. This legislation protects charter school employees by ensuring their employers are making necessary retirement contributions and clarifies language regarding participation for employers.
2. SB 1919/HB 2751 Eliminate the employer's practice of offsetting State of Illinois contributions Sponsored by Senator Kwame Raoul and Representative Arthur Turner
Summary: Requires that any State of Illinois contributions received by CTPF will be in addition to CPS contributions.
Rationale: Under current practice, contributions to CTPF from the CPS Board of Education are reduced by any amount CTPF receives from the State of Illinois. These proposals eliminate the offset which would increase total fund revenues.
3. SB 1926/HB 2652 Increase State of Illinois contributions to CTPF Sponsored by Senators Emil Jones III, Napoleon Harris III, and Representative Monique D. Davis
Summary: Increases the 2014 state contribution to CTPF to $344 million and requires a State of Illinois contribution in future years equal to 10% of the amount authorized for the downstate Teachers' Retirement System (TRS). Rationale: In 1995 the State of Illinois agreed in principle to fund CTPF at an amount equal to 20-30% of the amount it awards to the Teachers' Retirement System. This funding failed to materialize. These bills ask the State of Illinois to fulfill its promise to fund pensions for Chicago's teachers.
4. SB 2252/HB 2789 Health insurance reimbursement stabilization Sponsored by Senator Donne E. Trotter and Representatives Elgie R. Sims, Jr., Daniel J. Burke, Esther Golar, Maria Antonia Berrios, and Cynthia Soto. This legislation is supported by the Retired Teachers Association of Chicago (RTAC) and the Chicago Principals and Administrators Association CPAA.
Summary: Removes the $65 million spending cap which limits the amount CTPF can reimburse for health insurance premium subsidies, and changes the eligibility requirements and formula for calculating health insurance benefits. Under this legislation, beginning in FY 2014, participants would receive reimbursement for health insurance benefits in the amount of 2.2% times the number of years of creditable service, up to a maximum of 50%.
Rationale: The amount that CTPF can spend to subsidize retiree health insurance premiums is currently limited to $65 million per year. The spending cap was set in place in 2004 and since that time the number of retirees and the cost of care have nearly doubled. As retirees increase and health insurance cost grows, the reimbursement will decline annually. This measure removes the spending cap, stabilizes the health insurance reimbursement, and establishes a reimbursement amount to qualified members, based on years of service, up to a maximum of 50%.
5. HB 1484 State of Illinois funding for CTPF Sponsored by Representatives Barbara Flynn Currie, Esther Golar,
and Mary E. Flowers
Summary: Holds the State of Illinois responsible for equitably funding CTPF. The bill requires the State to pay $173.8 million to CTPF in 2014 and to pay for normal costs of benefits earned from 2015-2059. This legislation also requires a $196 million contribution from CPS in 2013 and requires CPS to make annual contributions to pay for the fund's accumulated unfunded actuarial liability through 2059 or until funding reaches 100%.
Rationale: This legislation attempts to correct the unfair funding structure in place in the State of Illinois. The State currently picks up the total cost of pensions for non-Chicago systems, but provides minimal funding for CTPF. Last year the State of Illinois allocated $10.9 million to CTPF and $2.4 billion for TRS. Chicago's teachers receive less than a penny for every dollar the State spends on downstate and suburban teachers' pensions. This amendment works toward a more equitable distribution of State pension funding for teachers and holds CPS accountable for the unfunded liability created through years of pension underfunding.
6. SB/HB TBD Restore the CTPF property tax levy
Summary: This measure restores the City of Chicago property tax levy for fiscal year 2013 and years following, so that CTPF has a guaranteed funding mechanism.
Rationale: CTPF was funded through the property tax levy until 1995, when legislation redirected taxes into the Board of Education operating budget. Restoring the levy would provide a stable and guaranteed source of revenue for the fund.
 Click here to go to the Legislative Action Center |
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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.
Pension Fund Ambassadors are working to speak up and reach out to help Illinois legislators understand that pension funding is vital, not optional.
The Pension Fund Ambassador program encourages our members to educate lawmakers and decision makers about the Chicago Teachers' Pension Fund 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
More than 700 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:
Click here to register at our new Legislative Action Center and you will automatically be enrolled as an ambassador.
You can also send an e-mail with your full name, address, and contact information to ambassadors@ctpf.org.
Resources for Ambassadors
Before you can educate our legislators, you will need to become informed about our fund and our legislative priories.
Click here to download our member education sheet.
We encourage all ambassadors to get out and meet legislators while they are in their home offices. Click here for an information sheet that you can leave with a legislator after a meeting.
Need more information about your legislators? Click here to go to our legislative action center where you can look up your state representatives and senators, track legislation, and send e-mail to your legislators.
Visit our education and advocacy page to download an information sheet about your state senator and state representative.
Tell a Friend
We encourage you to tell a friend about our programs and to encourage them to participate. |
Dr. Carlos M. Azcoitia named to Board of Trustees 
Carlos M. Azcoitia was appointed to the CTPF Board of Trustees by the Chicago Board of Education. Azcoitia's appointment fills the vacancy created when Rodrigo A. Sierra left the board. Azcoitia will serve the board through November 2013.
Azcoitia currently serves as Distinguished Professor of Practice in Educational Leadership at National Louis University. Azcoitia received his Doctorate in Education from Northern Illinois University, a Masters of Education from National Louis University, and Bachelor's degree from the University of Puerto Rico.
"We welcome Dr. Azcoitia to our board and look forward to a productive year," said Executive Director Kevin B. Huber. "We also want to thank Mr. Sierra for his service to CTPF." |
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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.
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
April
25
9:30 a.m. CTPF Board of Trustees Meeting (note date has changed)
May
1
CTPF Board of Trustee nominating packets available
16
9:30 a.m. CTPF Board of Trustees Meeting
27
Memorial Day, office closed
June
20
9:30 a.m. CTPF Board of Trustees Meeting |
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 secretaryRaymond Wohl, recording secretaryCarlos M. Azcoitia Jeffery Blackwell Jeanne Marie Freed Walter E. Pilditch Mary Sharon Reilly 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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