Estimate · Not an Official Benefit Statement

CTPF Pension Calculator

Estimate your Chicago Teachers' Pension Fund (CTPF) monthly and annual pension from your tier, age, years of service, and final average salary — mirrors the Tier 1 / Tier 2 rules on ctpf.org.

How This Works

Your pension is 2.2% × years of CTPF service, capped at 75% of your final average salary (FAS) — the same formula for both tiers. If you retire before you're eligible for an unreduced pension, your benefit is permanently reduced by ½ of 1% for every month you're short.

• Tier 1 (joined CTPF or a qualified reciprocal system before 1/1/2011): unreduced at 62 w/ 5+ yrs, 60 w/ 20+ yrs, or 55 w/ 33.91+ yrs
• Tier 2 (joined 1/1/2011 or later): unreduced at 67 w/ 10+ yrs, reduced eligibility at 62 w/ 10+ yrs
• Reciprocal service from another qualifying Illinois pension system counts toward age/service eligibility only — CTPF pays benefits based on CTPF years alone

⚠️ Important Limitations

• This is an estimate for planning purposes only — request an official estimate from CTPF Member Services before making retirement decisions.
• Final average salary (FAS) is entered directly, not calculated from salary history. Tier 1 uses the 4 highest consecutive years in the last 10; Tier 2 uses the 8 highest, subject to a pensionable earnings cap ($129,192.26 for 2026) that this tool does not enforce on the input. FAS includes the pension pick-up (PPU), confirmed with CTPF, so enter your full salary, not just base + step.
• If your FAS averaging window includes your 30th year of service, note that teachers receive a one-time $2,100 pensionable longevity payment that year (Appendix A-1P) — this tool doesn't add it automatically, so include it in your FAS input if it applies. Its effect on your final pension is small (roughly $500/yr spread across a 4-year FAS average, or about $11/yr in pension).
• The 20-year projection approximates Tier 2's cost-of-living adjustment at a flat 3% ceiling (true rule: lesser of 3% or half of CPI) — this only affects the projection chart, not the headline pension amounts.

Calculate Your Pension

Select your tier

Tier 1 — joined before 1/1/2011 Tier 2 — joined 1/1/2011 or later

Age at retirement

Years of CTPF service

Years of reciprocal service

Counts toward age/service eligibility only — CTPF only pays on CTPF years.

Final average salary (FAS), $

Estimated monthly pension

Estimated annual pension

Where the number comes from

Pension Details

Pension multiplier: —
Age/service required — unreduced: —
Age/service required — reduced eligibility: —
Reduction applied: —
Annual increase (COLA), post-retirement: —

Pension Over Time

Projected pension with compounding annual increase, first 20 years of retirement. Hover the chart for year-by-year detail.

Formula: 2.2% × years of CTPF service × FAS, capped at 75% of FAS (a computed rate of 74.6%+ is rounded up to 75%, per statute) — applies to both tiers per CTPF. Tier 1 FAS is the average of the 4 highest consecutive years in the last 10; Tier 2 FAS is the average of the 8 highest consecutive years in the last 10, subject to a pensionable earnings cap ($129,192.26 for 2026, adjusted annually by the lesser of 3% or half of CPI). Reduced pensions lose ½ of 1% per month retired before the unreduced age. Reciprocal service counts toward age/service eligibility only — CTPF pays benefits based on CTPF years alone, matching CTPF's own monthly pension calculator. This tool is for planning only — request an official estimate from CTPF Member Services before making retirement decisions.