While still actively dedicated to educating Chicago’s students, you should be just as active in your retirement planning. Your retirement benefit is an important part of your future financial picture, and as an active member of The Chicago Teachers’ Pension Fund (CTPF), it’s important to understand your benefits in order to help plan for the future.
CTPF is committed to doing our part to stop the spread of COVID-19. For the health, safety, and wellbeing of all CTPF Members, the Fund continues to deliver all member services remotely. The physical office remains closed to all but essential employees whose duties cannot be performed offsite. In-person services and counseling have been suspended until it is safe to resume these operations.
CTPF has implemented the following changes for the health and safety of all:
The Chicago Teachers’ Pension Fund (CTPF) is a defined benefit retirement plan which provides a lifetime retirement benefit to vested members who meet minimum age and service requirements. For detailed information about retirement benefits and eligibility requirements, download the information sheet.
The Illinois legislature adopted a different set of pension vesting requirements for CTPF members who join on or after January 1, 2011. Members who joined prior to this date are considered Tier 1. Members who join after January 1, 2011, are considered Tier 2.
Every year in the fall, active CTPF members receive a Statement of Estimated Contributions and Benefits that summarizes the individual member’s contributions and service credit as reported by the employer(s) (CPS and/or Charter Schools) for the previous fiscal year (fiscal years run July 1-June 30).
Applying for retirement is a process, and the process begins by completing the Retirement Application Packet. Download and read this Retirement Application carefully and complete all necessary forms. An incomplete form will delay the processing of your retirement benefit.
During the COVID-19 pandemic, members are strongly encouraged to submit all forms and information by fax 312.641.7185 or email a .pdf or .jpg file to firstname.lastname@example.org. Electronic submission is the best way to ensure delivery during this time as U.S. Mail processing may be delayed.