Pension Payments

Overview

Pension Payments

Direct Deposit

Direct deposit ensures that your pension payment is deposited into your account on the first business day of the month, whereas a check mailed to your home will take several days to arrive and then clear, delaying access to your funds. Direct deposit avoids costly delays and the chance of a lost or stolen check.

We encourage you to take advantage of the speed, accuracy, and security of direct deposit; you can sign up by submitting the Direct Deposit form (CTPF Form 425).

For any questions about direct deposit, please contact Member Services, 312-641-4464.

Monthly Payment & Direct Deposit Calendar

Month Check Mailing Date Direct Deposit Date
January 2018 December 28, 2017 January 2, 2018
February 2018 January 30, 2018 February 1, 2018
March 2018 February 27, 2018 March 1, 2018
April 2018 March 29, 2018 April 2, 2018
May 2018 April 27, 2018 May 1, 2018
June 2018 May 30, 2018 June 1, 2018
July 2018 June 28, 2018 July 2, 2018
August 2018 July 30, 2018 August 1, 2018
September 2018 August 30, 2018 September 4, 2018
October 2018 September 27, 2018 October 1, 2018
November 2018 October 30, 2018 November 1, 2018
December 2018 November 29, 2018 December 3, 2018

Download a copy of the Pension Payment Schedule.

Form 1099-R: Distributions from Pensions, Annuities, Retirement, Etc.

By law, the 1099-R forms will be postmarked no later than January 31 following the tax year being reported. A 1099-R will be issued for each benefit a member receives. Make sure that your address is up-to-date with CTPF in order to receive a 1099-R; submit a Change of Address form (CTPF Form 107) if you need to update your address.

If you have a temporary address for the winter months and need CTPF to send your 1099-R to a different address, or need a reprinted 1099-R, please contact Member Services, 312-641-4464.

CTPF cannot provide a 1099-R to anyone other than the member or an authorized third party. If you are a Guardian of the Estate of a member and need a 1099-R for that member, please submit the Letters of Office for Guardianship, if CTPF does not already have such Letters on file. If you are an Agent for a Power of Attorney for the member and need a 1099-R, please submit a copy of the Power of Attorney and the Affidavit of Attorney in Fact form (CTPF Form 903), if CTPF does not already have such documents.

Please be aware that if a third party is requesting a 1099-R on behalf of a member or a deceased member and CTPF does not have the necessary documentation on file, that it may take up to 30 days to review such documentation once it is received.

CTPF, upon request and confirmation of the appropriate status of the requester, will provide a copy of the deceased’s member’s 1099-R to:

  • Spouse of the deceased
  • Child(ren) of the deceased
  • Parent(s) of deceased
  • Administrators and/or Executors of the Estate of the deceased upon receipt of valid Letters of Office of the Estate appointing the third party requester Administrator or Executor
  • Trustees of the Decedent’s Trust upon receipt of a valid Trust and Affidavit of Trust

The third party requester must provide a valid federal or state-issued identification prior to receiving a copy of the 1099-R.