Lieutenant James P. Maloney, Trustee • Recording Secretary

Policemens I want to congratulate all our recent retirees. May you enjoy a long retirement. The Chicago Police Lieutenant’s Association Web Site is undergoing changes, please be patient. All retired Lieutenants, contact Terry McMahon, our retiree representative and update your email and contact info for the Lieutenants Association, this is not for the Pension Fund.

The Pension Fund has hired additional administrative staff; we all look forward to working with them and having them work with you.

Here are some numbers, as of this article: Retirees for 2014 were 350, the total retirees for 2013 were 406 and for 2012 there were 570.

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Sgt. Brian E. Wright #1575, Trustee • Vice-President



While the Mayor continues to “reform” the pensions of city workers, the Supreme Court continues to hold that any diminishment of benefits is a violation of the Illinois State Constitution. The Cook County Circuit Court recently struck down the Municipal and Laborer’s changes as unconstitutional. The case is pending with the Illinois Supreme Court which will most likely hold as it did with the state worker’s pension fund that the changes are unconstitutional.

An interesting element of the analysis is union support of the changes. Just because a union supports a change to the pension code, does not make that change constitutional. The changes made to the Municipal and Laborer’s funds had “union support”. While the union does represent a group of workers, it does not have the power to change the pension code in such a manner that violates the state constitution.

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P.O. Michael K. Lappe, Trustee



UNANIMOUSLY ENDORSED BY THE F.O.P. CHICAGO LODGE #7 EXECUTIVE BOARD FOR RE-ELECTION to the POLICEMEN’S ANNUITY and BENEFIT FUND. (NOTE: As of this writing, no other active officers are challenging my candidacy. If someone last minute tosses their hat in the ring, there will be a ballot mailed out to you between October 7th through the 12th, 2015). Please consider voting for me. I am passionate to continue to serve you and all members, active and retired. I still have a lot of work ahead of me to complete for our present and future benefit. (Same situation may apply here: Retirees vote for Ken Hauser who also is endorsed by the Fraternal Order of Police, Lodge #7).

The Fund has received several calls from retirees, officers who are receiving a disability benefit or from a few who have resigned during the last police contracts. This Fund is working to recalculate benefits for just over a thousand officers. Some members think we just have to click on a button on any computer here and “Abracadabra,” your calculation is done! Sorry, each calculation is done on an individual basis in order to be accurate. Those members who retired first are the ones who receive their adjusted benefit first.

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Kenneth A. Hauser, Trustee • President



When to file for Social Security? Full retirement benefits can be collected at age 66 and for those born in 1960 or later, it’s 67. If you or a spouse has worked at least 10 years, you can start drawing benefits at any time between the ages of 62 and 70. “The longer you wait to start, the bigger your monthly benefit.” Today, if you begin collecting at the full retirement age (66), you get 100% of your benefit. It raises about 8% each year you wait and shrinks by about 6% each year for starting early, so at 62, you get 75% of your monthly benefit, and at age 70, you get 132%. While you know that the earliest age retirement benefits start is 62, there are benefits that can start sooner. Survivors’ benefits may be taken as young as 60. Disability insurance benefits can be taken at any age. Questions regarding benefits, the Social Security Administration provides a questionnaire on its website to help people understand which benefits they are entitled to or call the Social Security Office.

On May 22, 2015, President Obama signed H.R. 606, the Don’t Tax Our Fallen Public Safety Heroes Act, into law. The measure, which is now Public Law 114-14, clarifies that federal and state-based survivor benefits on behalf of a public safety officer who has died as the direct and proximate result of a personal injury sustained in the line of duty are exempt from federal tax.

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Pension Advisor is a publication of the Policemen’s Annuity and Benefit Fund. You will be receiving a copy to update you on the matters that affect your pension and the concerns of active police officers, retirees and widows that make up our membership. If you have a question about your pension or the Fund, or, if there is a particular issue you would like to see addressed, please feel free to send a note to:

221 North LaSalle Street – Suite 1626
Chicago, IL 60601