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2019 Health Insurance Open Enrollment

Open Enrollment for 2019 CTPF health insurance plans runs from October 1-31, 2018. During this time, eligible CTPF members can join a plan for the first time or change plans. CTPF will offer seminars and webinars with information about plan choices, changes, and costs. Changes made during Open Enrollment become effective January 1, 2019.

Redefining Retirement
James and Linda Paskiewicz

Redefining Retirement: Real Estate for the Birds

After retiring from CPS in 2006 following more than 30 years of teaching, James Paskiewicz and his wife, Linda (herself a retired teacher from a parochial school), began a second career in small-scale real estate: building and selling birdhouses.

Redefining Retirement
Bonnie Glassner with some of her works

Redefining Retirement: Discovering a New Medium

For most of her 35-year career with CPS, Bonnie Glassner taught students with disabilities, incorporating visual art work into her lessons whenever possible in order to combine her two loves of teaching and art. Retiring from teaching in 2012 provided more time to focus on her art, so Bonnie began crafting and creating mixed media pieces. This eventually led to her discovery of alcohol ink—an acid-free and highly-pigmented substance that creates vibrantly-colored works—and she knew she had found her medium.

News

Trustee Vacancy Declared: Applications Due July 6

In accordance with the Pension Board Bylaws, following Trustee Eshoo’s resignation, the Board declared a vacancy in a Teacher Trustee position. The Vacancy Committee appointed by Board President Jay Rehak includes Trustees Lois W. Ashford (chair), Jeffery Blackwell, and Mary Sharon Reilly. The committee will evaluate candidates and make a recommendation to the Board at the next regular meeting on July 19, 2018. The individual appointed to fill the position will serve until this fall’s annual election in November.

Redefining Retirement
Co-authors Lloyd Rutzky and Joel Levin

Redefining Retirement: A Whole New Ballgame

After retiring from teaching in 2007, Joel Levin took on a project paying homage to his first career as a ballpark vendor, which he did from 1962-1976. Together with co-author and amateur photographer Lloyd Rutzky, he has written Wrigley Field’s Amazing Vendors, a book that shares photographs and stories of the unique cast of characters that sold goods at Wrigley Field during the 1970s.

Press Release

CTPF Board Passes Unanimous Resolution Supporting Opioid Lawsuit
CTPF Trustees support action against companies which created and continue to perpetuate the nation’s opioid crisis

During their meeting on Thursday, May 17, 2018, the Chicago Teachers’ Pension Fund (CTPF) Board of Trustees (Board) unanimously passed a resolution supporting a lawsuit brought by local governments and Health & Welfare Funds against the pharmaceutical manufacturers, wholesalers, distributors, and pharmacy benefit managers who have helped to create and perpetuate the nation’s opioid crisis. The action also demonstrates the Board’s support and obligation to continue to protect CTPF’s members in administering and contracting for the health insurance program that CTPF offers to its retirees.

Press Release

CTPF Provides $1.9 Billion Positive Impact to Illinois Economy
CTPF Releases 2018 Economic Impact Statement

The Chicago Teachers’ Pension Fund (CTPF) today announced the release of its 2018 Economic Impact Statement. CTPF made $1.3 billion in direct payments to annuitants living in Illinois in 2018. Those payments had a $1.9 billion impact on the Illinois economy, supporting 14,704 jobs in the state. The Buck Stays Here: Understanding the Economic Impact of CTPF Benefit Payments on the State of Illinois and the City of Chicago is produced annually and details CTPF’s impact on the State of Illinois and the City of Chicago. The 2018 edition breaks out economic impact by Chicago Ward for the first time.

News

Pension Funding
CTPF Response to Story in the Chicago Tribune

With the recent release of the Chicago Tribune editorial and story, CTPF has been receiving messages from members concerned about their pensions. CTPF has a stable funding plan which will bring our funded ratio up from the current 50.1% to 90.0% by 2059. Pensions for CTPF members are guaranteed, and CTPF has never missed a pension payment.

News
Outside Subsidy Rebate Proof

Outside Subsidy Rebate Proof

Members who received notification about the health insurance premium subsidy rebate must submit their application by August 31, 2018. This video walks you through the acceptable forms of proof that may accompany the application.

Press Release

CTPF Files Suit against Prologue, Inc., for Failure to Report Teachers and to Make Pension Contributions

The Chicago Teachers’ Pension Fund (CTPF) today filed a lawsuit in Cook County Circuit Court against Prologue, Inc., the operator of the now-closed Joshua Johnston Charter School for Fine Art and Design (Johnston). The suit alleges that between at least January 2013 and June 2016, Prologue failed to report the employment of licensed teachers and to pay pension contributions to CTPF as required by the Illinois Pension Code on behalf of those teachers. As shown in the audit, Prologue reported only 6 out of 16 Johnston licensees in Fiscal Year 2014 and, despite Johnston having 17 licensees in Fiscal Year 2015 and 14 licensees in Fiscal Year 2016, Prologue reported no teachers or other licensed employees to CTPF for either of those fiscal years. The suit also names the organization’s Chief Executive Officer Nancy E. Jackson and Chief Financial Officer and Pension Officer Jack Robertson, asking the court to hold them personally accountable for their actions.

News

School Funding Legislation Provides State Pension Contribution to CTPF
Governor Rauner signed Senate Bill 1947

On Thursday, August 31, 2017, Governor Rauner signed Senate Bill 1947 into law. The bill was passed earlier this week by both the Illinois House and Illinois Senate. This legislation makes changes to Illinois’ school funding formula, and requires the State to pay the long-sought normal cost of Chicago teachers’ pensions.

CTPF Impact
The legislation has three main components which impact CTPF: