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
October 2018 September 27, 2018 October 1, 2018
November 2018 October 30, 2018 November 1, 2018
December 2018 November 29, 2018 December 3, 2018
January 2019 December 28, 2018 January 2, 2019
February 2019 January 30, 2019 February 1, 2019
March 2019 February 27, 2019 March 1, 2019
April 2019 March 28, 2019 April 1, 2019
May 2019 April 29, 2019 May 1, 2019
June 2019 May 30, 2019 June 3, 2019
July 2019 June 27, 2019 July 1, 2019
August 2019 July 30, 2019 August 1, 2019
September 2019 August 29, 2019 September 3, 2019
October 2019 September 27, 2019 October 1, 2019
November 2019 October 30, 2019 November 1, 2019
December 2019 November 26, 2019 December 2, 2019

 

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.