Insurance In the Fall of 2014, the City of Chicago mailed letters and notification to annuitants that participate in retiree healthcare through the City of Chicago's retiree healthcare programs. In summary, these notifications indicated rate increases for 2015 group health insurance and allowed non-Medicare retirees the opportunity to opt-out of the existing plan (also known as the yellow plan) into different plans (also known as the orange, blue and purple plans), which may better meet annuitant needs of provider access, out-of-pocket expenses and premium costs. Medicare eligible retirees remained in the same plan. All continuing coverages included premium increases with the exception of retirees born on/after January 1, 1909 and on/before December 31, 2013. The higher premium costs are reflected in the December 2014 earnings statements sent to all annuitants, under "Deductions" category. Please note that healthcare premiums deducted from the December 2014 annuity are used to pay for January 2015 coverages. Information regarding the healthcare changes and relating plan information can be found at the following website (City of Chicago) or please contact the City's benefit services at 1-877-299-5111. Should you wish to cancel your retiree healthcare insurance, you must submit a signed written request to PABF via mail or fax at 1-312-726-3216. Per the City of Chicago's direction, a minimum 30-day notice is required for healthcare insurance cancellations.

This month's tip:

When 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. Future dates for 2013 [ Meeting Dates ]


Pension Advisor

Executive Director Icon The Summer 2014
On-Line News Letter Available For Download
[Download Link]