Welcome to the Policemen's Annuity and Benefit Fund of Chicago
The Board announces the appointment of Regina M. Tuczak as Executive Director for the Fund effective July 26, 2013. Gina has been employed by the Policemen’s Annuity and Benefit Fund since January 1, 2010. Her employment with the Fund has been as Comptroller and since November 2012 she has been the Acting Executive Director.
At the July 26, 2013, Board meeting, when the Board of Trustees appointed me as the next Executive Director of the Fund, I was truly thrilled and honored to be provided such a very special opportunity. It is a privilege to serve such a dedicated, hardworking and courageous member group. The unique service that the members of this Fund provide on a daily basis is critical to the success of the City of Chicago. The sacrifices made by each of you, and your families, are exclusive to the job of public safety officer, particularly in the City of Chicago where continuous daily challenges await. I will work tenaciously to service your pension needs, as you and your family sacrifice daily for the citizens of the City of Chicago.
As I begin my service, I have many goals for the Pension Fund. Of utmost importance is that the Fund and its staff work to support your pension needs with the highest level of service. Should you have any concerns or questions, I am always available to listen and work to continuously improve the service and operations of the Pension Fund. I am also committed to the highest standard of ethics and integrity and will work to conduct operations in accordance with the Illinois statutes.
Prior to my appointment as Executive Director, I served as the Fund’s Comptroller beginning January 1, 2010. Prior to my position as Comptroller, I was a Director at Deloitte & Touche LLP, responsible for the Employee Benefit Plans audit practice in the Chicago office. I am a licensed CPA, with an MBA from the University of Chicago and a BA in Economics, with high distinction, from the University of Michigan.
Thank you for this opportunity and I look forward to many years of dedicated service to the most distinguished, dedicated, and valiant member group.
As provided by statute, a cost of living adjustment for eligible retired employees will be reflected in the annuity payment for January 2014 to be dated January 31, 2014. This increase is based on a percentage of the original annuity granted at retirement. These increases pertain only to retired employees, born before 1/1/1955, who have attained age 55 or over and have been retired for at least 13 months.
HEALTH CARE COSTS
If you have a premium deduction withheld from your pension check, you have already received notice from the City’s Benefits Management Office that the rates for the Blue Cross/Blue Shield PPO Plan are changing effective January 1, 2014.
New Insurance Rates
Please review the chart to determine your new monthly rate [HERE], which shall be deducted from your December 2013 annuity payment. If you do not find your status or status combination on the chart, you may view the complete page [HERE]
Effective January 1, 2013, the Fraternal Order of Police Lodge #7 contracted with a new provider for retiree group dental/vision coverage. The new provider is Delta Dental of Illinois. The Fund does not contract with any agencies to provide insurance coverage for retirees, this service is performed by the Fraternal Order of Police or the City of Chicago (in the case of group medical coverage). However, upon approval by the Board of Trustees at the January 31, 2013, meeting, the Fund is now forwarding all pension deductions for dental and vision benefits to Delta Dental. The Fund does not administer this benefit. The administrator of all dental and vision benefits is now Delta Dental and any changes desired to coverage levels must be made through Delta Dental. Their phone number is 1-800-323-1743. Any changes made with Delta Dental are then communicated to the Fund in a monthly data file, so that the appropriate deductions are made from each retiree's pension payments. Should there be any questions on dental or vision coverages, premiums, explanation of benefits, etc., please contact Delta Dental, the administrator of the plan.
Sworn Police members are eligible to purchase up to 2 years pension credit for prior Active Military service. The application is on our website which must be accompanied with a copy of your DD214. If the qualifications are met, this provision allows a member to purchase in monthly increments up to 2 years and must be applied for and paid prior to retirement.
TAXES & 1099Rs
Prior to January 31, 2014, the 2013 IRS Form 1099R will be mailed to recipients of annuities, ordinary disability benefits, death benefit payments and lump sum distributions. This form contains the information needed to file the appropriate 2013 tax return.
For those of you residing outside the State of Illinois, you should contact the local State Department of Revenue to determine the taxability of your annuity payments in that State.
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The Office will Be Closed
Upcoming Meeting Dates
Monthly Investment Meeting
RescheduledFriday, March 14th at 9:00am
Board of Directors Meeting
Thursday, March 27th, at 9:00am
Contacting the Office
Directions to Our Office [More]
Pension AdvisorThe Winter 2013
News Letter is Now Available For Download
The seminar is one-day held at Chicago Police
Department Head Quarters.
The seminars are offered through the Chicago Police Department, members need to register by calling Personnel @ 745-5342 or registering through the Intranet at Employee Resources Services Division. [Seminar Dates] For Qualifications for a CPD officer to attend [LINK]
Active MembersWhen making plans for retirement we suggest attending a Pre-Retirement Seminar. The seminar is one-day which offers information on a variety of topics to assist in your future planning. Enrollment is conducted by contacting CPD Employee Resource Services Division at 312- 745-5342. There are certain qualifications required before enrolling.
A HISTORY OF THE FUND
The history of the Policemen's Annuity and Benefit Fund of Chicago
began on April 29, 1887, when the Illinois General Assembly
authorized the creation of the Fund, for "Cities, Towns,
and Villages having a population of 50,000 or more.