PENSION FUND UPDATES • by Kenneth A. Hauser, President


The year 2017 was a great year for the Pension Fund. The Fund value was at $2,664,498,390 on December 31, 2017, representing growth of 10% from the Fund value on January 1, 2017, which was $2,408,559,227. The performance of the Fund was 17% net over the period ending December 31, 2017. This is a strong endorsement of the Fund’s investment managers.

Actual tax receipts from the City of Chicago for 2017 were $453 million and the Fund will receive an anticipated amount of $500 million for 2018 which is in line with statutory requirements.

During 2017, the Pension Fund Trustees hired Seven Money Managers that will fit into the Fund’s Portfolio. The Managers and classifications are: Ullico Investments, Infrastructure; Blueprint Capital Partners, Private Debt; Crestline Investors, a flexible corporate capital fund of Private Debt; Sound Mark Partners and Brookfield Real Estate Financial Fund, Real Estate Debt; Pluscios Management and UBS Asset Management, Long/Short Equity Fund of Funds. The Pension Fund hired Evercore as our Broker for the sale of the Policemen’s Annuity and Benefit Fund Private Equity Portfolio. The Pension Fund sold the Private Equity Portfolio because the investments were closed ended funds and the Fund will use this liquidity to pay for future benefits. The Fund also invested additional funds with one of our present managers: Blueprint Capital Partners, Private Equity. The Fund liquidated the Holland Capital Large Capital Growth Fund due to their going out of business and then terminated the GMO Global Tactical Asset Allocation Fund for unacceptable performance.

The total number of active police officers making monthly contributions to the Pension Fund is 12,660 as of February 15, 2018 of which 2,864 are female and 9,796 are male. The breakdown of active officers (12,660) will not be exact because I am not listing every position. Totals of each rank/position are approximate: 9540 Patrolman, 991 Detectives, 1201 Sergeants, 267 Lieutenants, 34 Captains, 40 Commanders, 6 Chiefs, 17 Deputy Chiefs, 28 Canine Handlers, 103 Evidence Technicians, 259 Field Training Officers, 11 Explosives Technicians, 44 Explosives Detection P/O’s, 31 Marine Officers, 17 Mounted Officers, 16 Security Specialists and 13 Traffic Specialists.

The total number of police officers hired during 2017 was 1067 of which 276 were female and 791 were male. The total number of police officers who left the Police Department during 2017 was 621 police officers, 0 officers died while on the job, 5 officers were discharged, 5 probationary officers were discharged, 36 police officers chose to resign without a pension, and 575 officers completed their careers and retired with a pension. The rank breakdown of the 575 officers is 501 under the rank of Sergeant, 58 Sergeants, 10 Lieutenants, 4 Captains and 2 Exempt rank. For the month of February, 2018, the average retiree was 55 years of age with 25 years and 2 months of service.

A total of 13,616 annuitants are receiving approximately $62 million in benefits monthly from the Pension Fund as of February 28, 2018. 9901 are retired police officers, 3118 are widow/ widowers and 184 are children. The total number of officers on disability is 257 which breaks down to 177 on duty disability, 36 on ordinary disability, 30 on occupational heart disability, 14 on total and permanent disability and 156 children of disabled police officers. As of February 28, 2018, there are 4566 annuitants between 70-79 yoa, 1843 annuitants between 80-89 yoa, 464 annuitants between 90-99 yoa and 7 annuitants over 100 yoa.


There will be no Northside breakfast at the Lone Tree Manor. They will be remodeling.
The breakfast is relocated and will be held at the Blossom Café until further notice.
Blossom Café is located at 8349 West Lawrence (Lawrence & Cumberland) formerly known as the Phoenix.

Kenneth A. Hauser

Kenneth A. Hauser, Elected Trustee, President [BACK]