Welcome to the Policemen's Annuity and Benefit Fund of Chicago

EMERGENCY NOTIFICATION REGARDING: May 29th Investment Committee Meeting & Board Meeting:

Due to the fact that the United States Secretary of Health and Human Services declared that COVID-19 presents a public health emergency and Governor Pritzker issued a “Stay-At-Home” Directive in response to COVID-19:
• The regular monthly meeting of the Retirement Board of the Policemen’s Annuity and Benefit Fund of Chicago, Scheduled for Friday, May 29, 2020 at 9AM will be conducted by audio conference.
• A quorum of the Board of Trustees of the Fund will participate via audio conference. • The Agenda of the May 29, 2020 meeting will be limited to Fund matters that require immediate approval. A verbatim recording of the meeting will be maintained by the Fund.

Policemens

Members of the public are encouraged to participate in the May 29, 2020 meeting via audio conference.  
To participate, please dial into:

  • (312) 626-6799
  • Meeting ID: 979 4529 1542
  • Passcode: 60606


  • [ Download Letter Here ]

    Comptroller Job Posting

    The Retirement Board (the “Board”) of the Policemen’s Annuity and Benefit Fund of Chicago (the “Fund”) is conducting a search to hire the Fund’s next Comptroller.

    Applications will be accepted until the position is filled. Qualified candidates should email a cover letter and resume to: resume@chipabf.org.

    Download Job Posting

    HEALTHCARE RESOURCES

    Document Download

    City of Chicago Retirees Health Insurance Subsidy Reimbursement Notification

    Policemens

    The Circuit Court of Cook County ordered that all eligible City of Chicago employee annuitants (both current and future employee annuitants, but not spousal or child annuitants) of the Policemen’s Annuity and Benefit Fund (the “Fund”) are entitled to receive a health insurance premium subsidy, representing a partial reimbursement for healthcare costs. The following are important facts related to the subsidy:

    More Information

    CITY OF CHICAGO RETIREE HEALTHCARE ANNUITANTS ALERT!

    Some Retirees Have Not Cashed Their Healthcare Premium Refund Checks.

    Retirees or their Legal Representatives May Request The City to Reissue their Refund Checks.

    Here’s How:

    For More Information Follow This Link

    2019 BENEFIT PAY DATES

    Policemens

    The Fund’s staff is aware that retirees like to keep track of the dates their annuity will be electronically deposited each year.

    It is recommended that all retirees take advantage of having direct deposit. It is the safest and most secure method of receiving a monthly annuity on a known date.

    Annuity distributions are on the last business day of each month which is the earned annuity for that month.

    For retired members who have checks mailed directly, please be advised, mail date is four business days prior to payable date. The Fund has no control over the U.S. Postage Service and will not guarantee prompt delivery of any check(s). Reissuance of a “lost” or “destroyed” check cannot occur until the 5th business day of the following month. Which, when re-issued, is mailed again through USPS. We highly recommend direct deposit to avoid any delays in receiving your monthly benefit.

    Pension Advisor

    Executive Director Icon Summer 2019 Issue No. 63
    On-Line News Letter Available For Download
    [Download Link]

    Coronavirus

    COVID-19 Procedures to Protect Members and Employees

    The United States Secretary of Health and Human Services declared COVID-19 presents a public health emergency and Governor Pritzker issued a disaster proclamation in response to COVID-19.

    Monthly Agenda:
    [ HERE ]
    please re-fresh your browser to obtain the latest version
    [ Monthy Meetings Page ]


    Due to the COVID-19 virus pandemic, the PABF’s office is closed to members and the public beginning March 19th. The Fund will be operating remotely Monday through Friday from 8:30am to 4:30pm. However, you may experience delayed response times.


    We currently expect that all benefit payments will be processed as normal. You may reach our staff via phone, email and fax. We will return all calls and emails as soon as possible.


    Please rest assured we are pursuing every avenue to provide the service that our members expect during this national health emergency. Stay healthy and thank you for your patience and understanding.


    If you have an existing scheduled appointment, please call the Fund to determine whether your appointment can be handled over the phone or if you will need to be rescheduled. We are taking these steps to protect the health and welfare of our members and employees.

    The phone number to the Fund office is:
    (312) 744-3891
    The fax number to the Fund is:
    (312) 726-3216

    Inquiries can also be sent to the following email addresses based on subject matter:

  • Benefit Calculations:
    benefits@chipabf.org
  • Benefit Payments & Changes:
    payments@chipabf.org
  • Retirement Information:
    retirement@chipabf.org
  • We appreciate your understanding and patience during this unfortunate and evolving worldwide health emergency and we hope that you and your family remain healthy.

    The Retirement Board of Policemen’s Annuity and Benefit Fund of Chicago

    Public Act 099-0905 (COLA)

    On November 29, 2016, the Illinois legislature enacted Public Act 099-0905, which provides some benefit enhancements to members of the Fund, including cost-of-living increases to retired members born after January 1, 1955, but before January 1, 1966; additional benefits to minimum widows of the Fund whose spouses were Tier 1 members; and surviving family members, including widows and children, of deceased Tier 2 members. The Fund is working as quickly as possible to enact these benefit changes.

    Of particular interest is the cost-of-living increases available under this new legislation to those retired members with birth dates on or after January 1, 1955, and before January 1, 1966. Those members that have at least 20 years of service at retirement, have been retired for AT LEAST ONE year as of January 1, 2017, and have attained the age of 55 will be entitled to a 3.0% cost of living increase. In addition, some catch-up provisions are included in the legislation and many retired members in this group will receive incremental increases based upon a few qualifications including age at retirement and retirement date. For the members impacted, a 3.0% cost-of-living adjustment was applied to your January 31, 2017, retirement annuity. For those that will be receiving additional catch-up cost-of-living increases, the Fund’s staff is working on such calculations. Completion of these calculations will take up-to six months, as each calculation is a manual process. The Fund’s staff will work as quickly as possible to complete these. Note that for members born before January 1, 1955, this legislation does not apply to you.

    [Read More About The] IMPLEMENTATION OF 3% AUTOMATIC ANNUAL INCREASES

    MILITARY CREDIT

    Policemens Sworn Police members are eligible to purchase up to 2 years pension credit for prior Active Military service. An Application 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.

    MAY Regular Board meeting

    In compliance with the Governor’s extended stay-at-home order, we will hold our May Regular Board meeting by audio conference.

    Fund News

    Office Will Be Closed

    Independence Day

    Friday, July 3rd
    2020 Meeting and Holiday Schedule

    Upcoming Meeting Dates

    Investment
    Committee Meeting

    Friday, May 29th
    Monthly Investment Committee Agenda:
    [ HERE ]
    please re-fresh your browser to obtain the latest version

    Retirement Board Meeting

    Friday, May 29th
    Monthly Agenda:
    [ HERE ]
    please re-fresh your browser to obtain the latest version
    [ Monthy Meetings Page ]

    Hearing Schedule

      -

    As a reminder, the meetings of the Retirement Board trustees are always open to the public. We appreciate the interest and welcome all attendees.

    Investment Meeting Web Estimate News Letter

    Annuity Direct Deposits for 2020 are as follows:
    • January 31; annuity for January
    • February 28; annuity for February
    • March 31; annuity for March
    • April 30; annuity for April
    • May 29; annuity for May
    • June 30; annuity for June
    • July 31; annuity for July
    • August 31; annuity for August
    • September 30; annuity for September
    • October 30; annuity for October
    • November 30; annuity for November
    • December 31; annuity for December

    REMEMBER

    Attention All members, Active, Retired and Surviving Spouses;

    As life events occur, relocations, marriages, births, deaths, divorce, etc. you should keep the Pension Fund updated of any and all changes. This is to assure you received news, updates and/or tax forms in a timely fashion.

    Policemens

    Pre-Retirement Seminars

    Events image 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 @ 745-5182 or registering through the Intranet at Employee Resources Services Division.

    Contacting the Office

    The office is open Monday through Friday 8:30am to 4:30pm.
    Phone (312) 744-3891... [More]
    The office is located at 221 North Lasalle Street, Suite 1626.. [More]

    Google Maps Directions to Our Office [More]

    Pre-Retirement Seminars

  • Tuesday, February 11th
  • Tuesday, March 10th
  • Wednesday, October 28th
  • Wednesday, November 18th
  • A HISTORY OF THE FUND

    Former Chicago Police 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 500,000 or more.
    Read More...