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

Chief Investment
Officer Hired

The Fund has hired a new Chief Investment Officer, Ms. Aoifinn Devitt, effective April 5, 2015. Ms. Devitt has worked with institutional clients for her entire investment career, which has spanned the US, Europe and Asia. Her prior experience includes work as a specialist consultant at Cambridge Associates Limited (London and Boston), establishment of Clontarf Capital, a research and consulting firm with focus on assisting public pension funds, work in the investment banking division of Goldman Sachs in London, and experience as a corporate attorney at Debevoise & Plimpton (New York and Hong Kong).

Aoifinn graduated from Trinity College Dublin with a first class degree in law and received a BCL (Oxon) and an MBA (INSEAD, Dean’s list). Please welcome Aoifinn to the Fund.

Prior to Aoifinn joining the Fund, Trustee and Lieutenant James Maloney served as the Fund’s Acting Chief Investment Officer, for approximately sixteen months.The Fund sincerely thanks him for his dedication and commitment to the Fund in this important role. Trustee Maloney will continue his role as Investment Committee Chair and Recording Secretary to the Retirement Board.

Pension Advisor

Executive Director Icon Summer 2016 Issue No. 58
On-Line News Letter Available For Download
[Download Link]

Policemens

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.

Mandatory Signature Verification for Annuitants

The Fund sent a mandatory signature verification form to all annuitants in early March. All responses received have been recorded into the Fund’s system and signature verification continues. For those who have not yet responded, a second and final verification form was recently sent. Please respond ASAP to avoid any disruption in payment.

As staff reviewed the many signature verification forms received, many changes were noted, including address modifications, new phone numbers and power of attorney requests. Please make sure that you keep the Fund’s staff updated on these important changes, so that all communication sent to each annuitant is received.

2016 BENEFIT PAY DATES

Policemens

Retirees, who have direct deposit set up for their monthly annuity, remember the direct deposit is entered to your bank on the LAST BUSINESS DAY of each month. This excludes weekends and holidays. For the remainder of 2016 the direct deposit dates are:

January 29, February 29, March 31 April 29, May 31, June 30, July 29, August 31, September 30, October 31, November 30, December 30.

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.

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.

Fund Events

The Office will Be Closed

Labor Day
  • Monday, September 5th
  • 2016 Holiday Schedule

    Upcoming Meeting Dates

    Investment Committee Meeting
    Monday, July 25th at 9:00am

    Retirement Board Meeting of
    Thursday, July 28th at 9:00am

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

    [Visit the meetings page for the schedule]
    [Agenda Index and Summary]
    [Hearing Schedule]

    Hearing Schedule for July

      HEARING SCHEDULE

      Thursday, July 28th at 9:00am

    • 10:00 Patrick R. Myers (Duty)
    • 10:30 Rufus James (Duty)
    • 11:00 Beverly Simmons (Duty)
    • 11:30 Regina Wilson (Duty) RTD 5/26
    • 12:00 T. Grisby (CFOS)
    • LUNCH
    • 1:00 Joseph Smith (Status)
    • 1:30 Kathleen Foley (Status)
    • 2:00 Robbie Russell (Status)
    • 2:30 Edward O'Connell (Status)

    Site Links

    Investment Meeting Web Estimate News Letter

    2016 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 @ 745-5342 or registering through the Intranet at Employee Resources Services Division. [Seminar Dates] For Qualifications for a CPD officer to attend [LINK]

    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, March 22nd
  • Tuesday, April 26th
  • Tuesday, October 25th
  • 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...