Whether you are just starting your career, planning to leave employment, considering retirement or are already retired, you can access the information and resources you need to understand the retirement and health insurance benefits provided to members of the Chicago Teachers’ Pension Fund (CTPF).
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.
After dedicating your teaching career to the students of the City of Chicago, your retirement should be all about you. CTPF is dedicated to providing our retired members with a secure retirement benefit and the information you need to be able to enjoy your retirement to its fullest.
You are considered an Inactive Member if you have left employment with CPS or a Charter school, and still have funds with the Chicago Teachers Pension Fund (CTPF). Your member status is shown on the upper right hand corner of your annual Member Statement. To obtain a reprinted Member Statement please contact Member Services, 312.641.4464.
For information about member benefits, pensions, member statements, and more, please see the resources available in the Active Members section.
Thinking about your future retirement? Your pension is an important part of your future retirement security. Chicago Teachers’ Pension Fund (CTPF) members enjoy a guaranteed pension for life, based on your tier level, final average salary, CTPF years of service, and a pension multiplier (currently 2.2% for service earned on July 1, 1998 or after). The calculator below can help you estimate your monthly CTPF pension income at retirement.
The Illinois Retirement Systems Reciprocal Act (Reciprocal Act) gives retiring Illinois public employees the option to combine service credit earned in any Illinois public retirement systems (except local police and fire pension funds). The Chicago Teachers’ Pension Fund (CTPF) is one of 13 Illinois public retirement systems covered by the Reciprocal Act.
A Qualified Illinois Domestic Relations Order (QILDRO) is required by law in order to divide Chicago Teachers’ Pension Fund (CTPF) benefits. A QILDRO is a court order issued by an Illinois court, and it directs CTPF to pay your alternate payee (most often, your former spouse) a portion of your CTPF benefits. CTPF must have a valid certified copy of a QILDRO and all other required documents on file or CTPF cannot pay your alternate payee.
The survivor and death benefits provided by the Chicago Teachers’ Pension Fund (CTPF) are an important part of a family’s financial future. If you are aware of the death of a CTPF member, please contact Member Services, 312.641.4464, to report the death so CTPF can begin the process of paying any benefits due.