Chicago Public Schools 403(b) Vendors and Plan Guide (2026)
CPS runs a single-provider plan, and that changes the questions worth asking: what the plan costs, what happened to your old account, and what your options are.
One Provider, Not a Vendor Menu
Unlike most large districts, Chicago Public Schools does not offer a multi-vendor 403(b) menu. After a redesign announced in late 2021, CPS consolidated its supplemental 403(b) and 457(b) plans to a single provider: AIG Retirement Services, now Corebridge Financial. The previous lineup, which included Empower and Voya, was retired for new contributions.
Districts consolidate for a reason: a single recordkeeper with negotiated pricing typically means lower and more transparent fees than a menu of retail annuity sellers. The trade-off is choice. If you want a vendor that is not on the plan, your money has to be contributed through the plan that exists, and other products can only come into play outside payroll deduction.
Both CPS plans are worth knowing: the 403(b) and the 457(b) each carry their own separate IRS contribution limit, and the governmental 457(b) has no 10 percent early withdrawal penalty, which matters for educators who retire before 59 and a half.
Sources: Corebridge Financial, CPS Supplemental Retirement Plans; CPS Supplemental Retirement Plans transition guide (AIG Retirement Services, November 2021). Checked July 2026.
Want a Vendor That Is Not on the Plan?
National Life Group is not currently on the CPS lineup
Because CPS runs a single-provider structure, National Life Group is not an option inside the district plan today. Adding a provider is a district-level decision. If vendor choice matters to you, two practical moves: raise it with the CPS Talent Office or your union representative, and have the options you do control reviewed, including the current plan's costs and any savings you hold outside payroll, such as an IRA. We will walk you through both.
Book a Free 403(b) Fee ReviewStill Have an Old Account at Voya or Empower?
When CPS consolidated, existing balances with previous providers were not automatically transferred to the new platform. If you contributed before the change, your old account may still be sitting with a legacy vendor, in a product nobody has reviewed in years. You generally have three options: leave it, transfer it into the current plan, or roll it over when you are eligible. The right answer depends on what each option actually costs.
Old or forgotten 403(b)?
Find the account, read what it is really costing you in fees, and decide whether to move it.
The orphaned-account playbook →403(b) Rollover Guide
The rules in plain English: direct vs. indirect rollovers, where the money can go, and the 60-day trap.
Read the guide →Changing districts or states?
What happens to your 403(b) and your pension when you switch districts or move across state lines.
See your options →403(b) to Roth IRA conversion
When a Roth conversion makes sense for an educator, the tax it triggers, and why a pension changes the math.
Read the guide →Your Pension Is Not Illinois TRS
One CPS quirk that trips up new hires: Chicago teachers do not belong to the statewide Illinois Teachers' Retirement System. CPS teachers are members of the Chicago Teachers' Pension Fund (CTPF), and many non-teaching CPS employees belong to the Municipal Employees' Annuity and Benefit Fund of Chicago (MEABF). Illinois TRS covers teachers everywhere in the state except Chicago.
The supplemental 403(b) and 457(b) exist because a pension alone rarely replaces the 70 to 80 percent of pre-retirement income most educators need. Whichever fund you belong to, the planning question is the same: how big is the gap between your projected pension and the income you will actually need, and how much do you need to save to close it.
Teaching outside Chicago, or comparing offers? Our Illinois TRS pension calculator covers the statewide system, and our retirement calculator projects what your supplemental savings could grow to. Also see how the WEP and GPO repeal changed Social Security for many Illinois public employees.
Frequently Asked Questions
Who is the 403(b) vendor for Chicago Public Schools?
Chicago Public Schools consolidated its supplemental 403(b) and 457(b) plans to a single provider. Following a redesign announced in late 2021, AIG Retirement Services, now Corebridge Financial, became the plan provider, replacing the previous multi-vendor lineup that included Empower and Voya. Corebridge maintains dedicated CPS plan pages for both the 403(b) and 457(b).
Is National Life Group available in the CPS 403(b)?
No. Because CPS uses a single-provider structure, National Life Group is not currently on the CPS vendor lineup. Adding a vendor is a district-level decision. Educators who want more choice can raise it with the CPS Talent Office or their union representatives, and can also review savings options that exist outside the district plan, such as an IRA.
What happened to my old CPS 403(b) with Voya or Empower?
Existing balances with previous CPS providers were not automatically transferred to the new platform. If you had an account with a prior vendor, that money may still be sitting where you left it, often in a legacy product nobody has reviewed in years. You can generally leave it, transfer it into the current plan, or roll it over when eligible. A fee comparison should drive that decision.
What pension do CPS teachers have?
CPS teachers belong to the Chicago Teachers' Pension Fund (CTPF), not the statewide Illinois TRS that covers teachers outside Chicago. Many non-teaching CPS employees belong to the Municipal Employees' Annuity and Benefit Fund of Chicago (MEABF). The supplemental 403(b) and 457(b) plans sit on top of those pensions.
Life Gateway is an insurance-licensed financial services firm. This guide is educational, compiled from publicly available district and provider documents as of July 2026, and is not endorsed by or affiliated with Chicago Public Schools, CTPF, or Corebridge Financial. Plan structures change; always confirm current details with the district before acting.
Know What Your CPS Plan and Legacy Accounts Really Cost
Get a complimentary review of your current CPS plan, any old Voya or Empower balances, and the options you control outside payroll. No obligation, no pressure.
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