The 2024 1099-R mailing for pensioners was sent on January 31, 2025. If you need immediate access to your 2024 1099-R form, it can be downloaded from the myCTPF Member Self Service Portal. Create an account at myCTPF.org so that you can download it directly.  

 We understand that some members received letters indicating that because of changes due to the Social Security Fairness Act, CTPF will no longer be able to make payments to Medicare on their behalf.  

For many years, CTPF has offered its MedPay service, which makes payments for Medicare Parts A and/or B for some members who must pay for these benefits. The Centers for Medicare and Medicaid Services (CMS) has cancelled CTPF’s ability to make payments on behalf of some members. These members may now receive Social Security (SSA) payments, (or increased SSA payments), and CMS will withdraw Medicare premium payments directly from these benefits. This automatic SSA payment makes the third-party payment by CTPF unnecessary.  

Members who participate in the AARP Medicare Supplement Plan F (UnitedHealthcare) recently received a letter from UnitedHealthcare (UHC) with information regarding a June 1, 2025, rate increase. Plan F premiums are based on age, gender, vary by geographic area, and are determined directly by UHC.  

The subsidized increases range from $5.33 to $32.11 per month and vary by individual situation. A majority of participants will have rate increases of $16.69 or less. The new rate quoted by UHC does not include a CTPF member’s 60% health insurance premium subsidy or the cost of the Express Scripts Medicare Part D pharmacy benefit.  

The Chicago Teachers' Pension Fund (CTPF) announced the release of its 2025 Economic Impact Statement. CTPF made $1.5 billion in direct payments to annuitants living in Illinois in 2024. Those payments had a $2.1 billion impact on the Illinois economy, supporting more than 11,818 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 Chicago Teachers’ Pension Fund (CTPF) is proud to be Certified™ by Great Place to Work for the third consecutive year. Great Place to Work (GPTW) is the global authority on workplace culture, employee experience, and leadership behaviors proven to deliver market-leading revenue, employee retention, and increased innovation.  

Gail Davis, Director of Administrative Services at the Chicago Teachers’ Pension Fund (CTPF), received the Chicago Defender’s 2025 Women of Excellence Award. Davis, along with 49 other honorees, was recognized during the awards ceremony on March 21, 2025. She received her award from one of the event's emcees, her daughter Samantha Chatman of ABC 7 Chicago, adding a deeply personal touch to the honor. 

“Gail’s dedication and service to CTPF over the past 40 years have been remarkable. Her commitment to our members and her tireless efforts to support our Trustees have had a profound impact on our organization. This award is a well-deserved recognition of her exceptional contributions,” said Carlton W. Lenoir, Sr., Executive Director of CTPF. 

On March 18, 2025, Trustees and staff from the Chicago Teachers’ Pension Fund (CTPF) and the Retired Teachers Association of Chicago (RTAC) held a successful lobby day in Springfield, IL. The event educated lawmakers about legislative priorities and shared crucial information about CTPF’s current bills SB1188, SB1893, and SB1934.  

"The collaborative effort highlights our commitment to ensuring that our members’ needs are addressed, and our voices are heard," said Executive Director Carlton W. Lenoir, Sr. "This was an exceptional opportunity to raise awareness of our legislative priorities and to help ensure that they are addressed during this legislative session." 

CTPF understands that the performance of individual stocks can raise important questions among our members and stakeholders.   

CTPF's Investment philosophy and strategy emphasizes the delegation of investment decisions, including individual stock purchases to professional asset managers who are fiduciaries responsible for managing our portfolio in the best interests of our members. Asset managers continuously monitor market trends, company performance, and other relevant factors when making investment decisions.  

Non-Medicare participants in the BlueCross BlueShield (BCBS) HMOI plans who have primary care physicians in the Advocate network, may have recently received a letter from BCBS with the information that Advocate Physician Partners is leaving their HMO Illinois network effective July 1, 2025. 

This change will impact about 1% of retirees who receive health insurance benefits through CTPF plans. 

Members with gross income exceeding certain amounts set by Medicare must pay a monthly Income Related Monthly Adjustment amount (IRMAA) for Medicare Part B and Part D coverage premiums. If you are impacted by IRMAA, you must pay your Medicare Part D *IRMAA payments directly to Medicare.  

February 19, 2025 - Springfield, CTPF Executive Director Carlton W. Lenoir, Sr., testified before the Illinois Senate Pension Committee, chaired by Robert F. Martwick (D), on February 19, 2025. He discussed CTPF's funding history, legislative priorities for 2025, and the Tier 2 Safe Harbor requirements.  

“I want to thank Chair Martwick and the Committee members for making the time for this important subject matter hearing,” remarked Executive Director Lenoir. “Educating Illinois lawmakers about the mistakes of the past so that they cannot be repeated is a critical element in our legislative strategy and we appreciate this opportunity.”  

During his testimony, Lenoir called attention to the fact that CTPF’s funding ratio has fallen from 100.8% in 1999 to 48.1% in 2025, primarily due to a lack of revenue. Before 1995, CTPF received its primary funding from a tax levy. A funding crisis at the Chicago Public Schools in the mid-1990s resulted in an agreement that fundamentally changed the structure of pension funding when legislation redirected the tax levy for pensions into the CPS operating budget.    

During their meeting on January 16, 2025, the CTPF Board of Trustees adopted a resolution honoring the 130th anniversary of CTPF. 

"As we acknowledge this milestone year, we want to express our profound gratitude to the dedicated educators whose tireless efforts have impacted countless students over the decades," stated Executive Director Carlton W. Lenoir, Sr. "We extend our appreciation to everyone who has contributed to the growth, governance, and success of the Fund throughout its 130-year history." 

The Chicago Teachers' Pension Fund (CTPF) announced that it invested $6.5 billion or 51.9 percent of total fund assets, with Minority, Women and Disadvantaged-Owned Business Enterprise (MWDBE) firms in the fiscal year ending June 30, 2024. CTPF is proud to remain a leader among pension and retirement systems throughout the United States in providing MWDBE firms access to investment opportunities.