CPS pension checks unavailable for retired teachers due to computer issue, human error

Retired CPS teachers did not receive their monthly pension checks via direct deposit at midnight on August 1 because of an "unfortunate human error."

A recording on the Chicago Teachers' Pension Fund hotline and posted on the website told the retired teachers about the issue Friday morning.

The Chicago Teachers' Pension Fund is currently experiencing a computer issue regarding this month's pension check. We are working on the issue, and there will be something posted on the webpage and in our voicemail later today. We are sorry for the inconvenience and are working as quickly as possible to resolve the issue.

Pensioners who receive paper checks were not impacted by this issue, according to CTPF.

"We want to reassure you that this error has nothing to do with the availability of funds or the security of direct deposit for our members. This was an unfortunate human error which we will correct," CTPF said in a statement.

Retired CPS teachers do not receive social security, and many of them rely solely on their pensions to live.

Direct deposits usually clear around midnight on the first of every month. Chase Bank, which handles the pension funds, said retired teachers will see the money by Tuesday, August 5.

Retired teachers can also request a check at the Chicago Teachers' Pension Fund office, 203 North LaSalle Street, Suite 2600. The office will be open:

Friday, August 1, until 6:00 p.m.
Saturday, August 2, from 9:00 a.m. - 3:00 p.m.
Monday, August 4, from 7:30 a.m. - 5:00 p.m.

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