Hiring CTPF Retirees
All Employers must comply with the Chicago Teachers’ Pension Fund’s (CTPF) . Many different factors determine whether a retiree’s pension will be affected by a return to work, including specific details about their work history and pension calculation.
- The Employer must notify CTPF of permanent reemployment of a retired member
- The pension shall be cancelled on the date the re-employment begins, or on the first day of a payroll period for which service credit was validated, whichever is earlier
Temporary or Non-Annual Employment
- A retiree is limited to working on no more than 100 days in a fiscal year for an Employer(s)
- Compensation is limited to $30,000/year, or $50,000/year in the case of a retiree with at least 5 years of service as an administrator
CTPF strongly encourages Employers to ask candidates if they are a retirees returning to work during the hiring process before submitting pension contributions to CTPF.
Return to work rules are complex and audits of Employers frequently uncover return to work violations; please visit Returning to Work for more detailed information.