Categories
Uncategorized

Benefit Payment Participant Web Passport

Beginning in April, members who currently receive a monthly benefit from the Fund will have the opportunity to enroll in the “Benefit Payment Participant Web Passport” portal through the Fund’s custodian, Northern Trust.

After completing a secure enrollment process, which involves providing key data elements to create a unique user ID and password, enrollees will have secure access to their payment history, can obtain copies of their 1099R’s, change their tax withholding or direct deposit information as well as update their address and contact information, all online.

For more information, please see the Northern Trust Benefit Participant Web Passport Pamphlet which can be found here.

To enroll, visit northerntrust/bppweb and follow the prompt to register (you will see the link to register on the bottom right-hand of the screen).

For assistance specifically related to enrollment or password resets please contact the Northern Trust Benefit Payment Participant Service Center at 888-259-6835.

Categories
Uncategorized

The Board Responds to False Allegations with Facts

The Retirement Board (“Board”) of the Policeman’s Annuity and Benefit Fund of Chicago (“Fund”) prepared the attached report in response to a document authored by a person named Christopher Tobe and released in August 2021.

The author misstated and omitted facts, overlooked governing law and relevant accounting standards, and ignored his professional training.

As discussed in the detail in the attached report, a fact-based analysis of the Fund and its operations shows the:

  • Fund operates in a transparent manner consistent with applicable laws.
  • Board does not award “no bid contracts” to investment managers.
  • Board, Fund Staff, and the Fund’s Investment Consultant understand and monitor investment fees.
  • Board, Fund Staff, the Fund’s Investment Consultant, and Auditor do not hide investment fees.
  • Fund does not hide or use “ghost” investment managers.
  • Fund’s investments have not underperformed when compared against benchmarks that accurately reflects the Fund’s holdings.
  • Fund’s investment performance has not been manipulated.

It is important to remember that the Fund’s mission to provide retirement, disability and survivor benefits to sworn members of the Chicago Police Department, their spouses and children.  Consistent with its mission, the motivation behind any Board decision is to ensure a secure financial future for members and their families while complying with all applicable laws and regulations. Be assured that as fiduciaries, the Board acts solely in the interest of the Fund’s beneficiaries.

The Board also believes in transparency. Accordingly, the Fund’s website (chipabf.org) provides members with detailed information regarding the Fund’s financial stability, investment performance, investment policy, monthly cash flow, procurement activity, financial statements, and annual financial audits. Further, the Fund’s financial reporting complies with Generally Accepted Accounting Principles (GAAP), which is the standard accepted by the U.S. Securities and Exchange Commission. The purpose of GAAP is to ensure that financial reporting is transparent and consistent. Finally, the Fund welcomes input and participation at its regular monthly and investment committee meetings, which are open to the public.

Sincerely,

The Retirement Board of the Policeman’s Annuity and Benefit Fund of Chicago

 

Categories
Uncategorized

Added Security Measures

In order to provide an additional layer of protection for your accounts, Fund staff will be asking you to provide a copy of your state identification when you initiate changes to your personal information.  Thank you for your patience and know that we are taking this additional step for your protection.

Categories
ARCHIVED NEWS

2021 Board Member Election Results

2021 Board Member Election Results

 

 


1. Investigator, Patrolman, or rank equivalent thereto Member

Members of the rank Investigator or rank inferior thereto had the opportunity to participate in the election for a trustee of the Retirement Board of the Policemen’s Annuity and Benefit Fund of Chicago for a 3-year term from December 1, 2021 through November 30, 2024.

The winner of the election, with the highest numbers of votes was:

 

Elmore Dewayne Metcalfe

 

2. Annuitant Member

Annuitant* Members had the opportunity to participate in the election for a trustee of the Retirement Board of the Policemen’s Annuity and Benefit Fund of Chicago for a 3-year term from December 1, 2021 through November 30, 2024.

The winner of the election, with the highest numbers of votes was:

 

Michael K. Lappe

 

*Persons entitled to vote in the Annuitant member election include: (a) any adult Annuitants who are not under conservatorship; (b) conservators of Annuitants; and (c) legal guardians of children and/or Annuitants when the parent or stepparent of such children are themselves not Annuitants.

 

ELECTION DETAILS


The election was conducted from October 5-25, 2021 to fill the terms detailed above, and was held in accordance with the rules adopted by the Board on May 27, 2021. An independent election firm administered the elections with all balloting conducted online or telephonically.

Detailed rules concerning the Trustee Election are available at www.chipabf/about.org or at the PABF Office and here: Election Rules.

 

Categories
Uncategorized

Board Statement May 2021

Categories
ARCHIVED NEWS

Benefit Eligibility Affidavit Deadline: February 15th

Attention Annuitants:

If you were an annuitant prior to April 15, 2019 you should have received a 2019 Continuing Benefit Eligibility Affidavit. If you signed and returned the Affidavit, your eligibility is confirmed and there is nothing more for you to do.

If you are one of the 95 annuitants who has not yet returned a signed and notarized copy of your affidavit, please call the payroll division of the Fund as soon as possible at 312-235-4595.

If the Fund does not receive your completed affidavit by February 15, 2021 your annuity will be suspended. The link below is an example of the form for informational purposes only. When you contact the Fund, we can provide you with a copy of your specific letter.

https://chipabf.org/wp-content/uploads/2021/01/Benefit-Eligibility-Affidavit.pdf