Understanding the amount of your pension benefit is a crucial part of planning for your retirement. Your pension is based on your years of service, a pension percentage multiplier and your final average salary (FAS).
Tier 1 includes members who first contributed to CTPF or another Illinois reciprocal system before Jan. 1, 2011. Your FAS is based on the average of your four highest consecutive salaries in your last 10 years of service. You can learn more about Tier 1 benefits here.
Tier 2 includes members who first contributed to CTPF or another Illinois reciprocal system on or after Jan. 1, 2011. Your FAS is based on the average of your eight highest consecutive salaries in your last 10 years of service. The FAS is capped for Tier 2 members, and the cap can change annually. You can learn more about Tier 2 benefits here.
Want to estimate how much you’ll receive? Use our pension calculator to calculate your estimated payment.
Note: If you worked before July 1, 1998, and did not upgrade to the 2.2 formula, your pension will be based on the step-rate formula. If you were not actively contributing to CTPF on July 1, 1998, you must earn at least one year of service credit with CTPF after that date to upgrade to the 2.2 formula.
Request a Personalized Estimate
If CTPF is your final pension system, we can help you estimate your pension more accurately based on your personal information. You will need to provide the number of your unused sick days, your estimated date of retirement, information on any possible optional service you wish to establish, and any pension service in other Illinois reciprocal retirement systems. If your final service is with a reciprocal system, you must contact that system to request an estimate.
To request a personalized estimate, contact Member Services at (312) 641-4464 or email@example.com.