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Chicago Teachers’ Pension Fund Provides $1.98 Billion Positive Impact to Illinois Economy
CTPF Releases 2020 Economic Impact Statement

The Chicago Teachers’ Pension Fund (CTPF) announced the release of its 2020 Economic Impact Statement. CTPF made $1.4 billion in direct payments to annuitants living in Illinois in 2019. Those payments had a $1.98 billion impact on the Illinois economy, supporting more than 13,100 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 report includes economic impact by legislative district and Chicago ward.   

“The 2020 Economic Impact Statement quantifies the economic affect that CTPF has on the State of Illinois and the City of Chicago. Our retirees advance the financial health of the communities across the State of Illinois,” said Jeffery Blackwell, President, CTPF Board of Trustees. “Our members with guaranteed income continue to spend, even during recessionary times. They have a profound and positive impact by helping to keep workers in their jobs, momentum in the local and greater economy, and providing much needed financial support especially during this unprecedented economic situation.” 

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CTPF Operating Remotely

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:

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Medicare Fraud Warning
U.S. Department of Health and Human Services warns of COVID-19 scammers

The U.S. Department of Health and Human Services is warning that scammers are using the COVID-19 pandemic to try to steal Medicare Numbers and personal information. Con artists have been are offering free masks, COVID-19 testing kits, “COVID-19 cures,” or protective equipment in an attempt to steal information. If anyone reaches out to get your Medicare Number or personal information in exchange for something, it’s likely a scam.

Guard your Medicare card like it’s a credit card.

Remember:

Redefining Retirement

Redefining Retirement: Meet Author and Mentor Robin Henry

Robin Henry graduated from University of Illinois at Urbana-Champaign with a degree in Rhetoric and Advertising. She was recruited for Teachers for Chicago and spent the next chapter of her career in CPS schools, first as a high school English teacher and then as a curriculum coordinator. She said good-bye to CPS and retired on her birthday in 2018 and returned to Advertising the very next day.

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US Mail to CTPF Interrupted
Members encouraged to Fax 312.641.7185 or email a .pdf to imaging@ctpf.org

Restrictions to the downtown area have resulted in US Mail Service interruptions and CTPF is not receiving regular mail deliveries. As of June 1, 2020, CTPF continues to advise all members to submit documents electronically to ensure prompt processing. If you are submitting your retirement application, change of address, direct deposit authorization, health insurance reimbursement, or other forms, the best way to send documents is by Fax 312.641.7185 or email a .pdf to imaging@ctpf.org.

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CTPF Commits $70 Million to MWDBE Firms

The Chicago Teachers’ Pension Fund reaffirms its commitment to minority, female, and disabled participation (MWDBE) in all areas of investments. At the May 21, 2020, Board of Trustees Meeting, the Board approved new private equity and real estate commitments totaling $70 million to emerging or MWDBE person-owned private equity managers.

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CTPF Board of Trustees Meeting May 21, 2020
Meeting to be Conducted by Zoom Videoconference

The Board of Trustees will meet on Thursday, May 21, 2020, at 9:30 a.m. Due to the COVID-19 emergency, and in accordance with the temporary changes to the Open Meetings Act, this meeting is being conducted via audio/video conferencing.

Public participation will be available at the beginning of the meeting. The agenda and meeting materials are available through the BoardDocs meeting system. 

This meeting will be conducted by Zoom videoconference.

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Remote Notarization Services Available for CTPF Doc
CTPF Offers Notarization via Zoom Videoconference

While CTPF accepts many documents via email or fax, the requirement for a notary to witness signatures remains in place for important documents. Documents are notarized to deter fraud and to ensure proper execution.  

CTPF now offers remote notarization for CTPF documents, in accordance with Illinois law. Members who would like assistance notarizing CTPF documents should call or email Member Services at 312.641.4464 or memberservices@ctpf.org, and request a zoom videoconference for notarization.

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Voicemail Disruptions Possible
Some voicemails may not have been received

CTPF has been experiencing technical issues with its voice mail system within the last week. It’s possible that some recent messages may not have been received. Calls are generally returned within 24-48 hours. If you have left a message for CTPF Member Services and have not had a call returned within this timeframe, please call back at 312.641.4464 and leave another message. Please clearly state your name, phone number, the nature of your business inquiry, and note that this is a repeat request. Your call will be returned as soon as possible.

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Members Encouraged to Submit Documents Electronically
Fax 312.641.7185 or email a .pdf to imaging@ctpf.org

Given the uncertainties with the COVID-19 outbreak, CTPF is advising all members to submit documents electronically. If you are submitting your retirement application, change of address, direct deposit authorization, or other forms, the best way to send documents is by Fax 312.641.7185 or email a .pdf to imaging@ctpf.org

A majority of CTPF members are working remotely and sending documents electronically ensures that we will process them as quickly as possible.