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 Form 425: Direct Deposit form .

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
October 2019 September 27, 2019 October 1, 2019
November 2019   October 30, 2019         November 1, 2019      
December 2019   November 26, 2019      December 2, 2019          
January 2020       December 30, 2019 January 2, 2020
February 2020 January 30, 2020 February 3, 2020
March 2020 February 27, 2020 March 2, 2020
April 2020 March 30, 2020 April 1, 2020
May 2020 April 29, 2020 May 1, 2020
June 2020 May 28, 2020 June 1, 2020
July 2020 June 29, 2020 July 1, 2020
August 2020 July 30, 2020 August 3, 2020
September 2020 August 28, 2020 September 1, 2020
October 2020 September 29, 2020 October 1, 2020
November 2020 October 29, 2020 November 2, 2020
December 2020 November 25, 2020 December 1, 2020

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 Form 107: Change of Address form 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 Form 903: Power of Attorney and the Affidavit of Attorney in Fact form , 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.