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Board Statement Sept 2021

 

Putting Members First

 

The Retirement Board (“Board”) of the Policeman’s Annuity and Benefit Fund of Chicago (“Fund”) is aware of a recent report commissioned by a small group of retirees that may have caused unnecessary concern among some of our membership. The Board has reviewed the report and plans to prepare a detailed response.

In the meantime, the Board would like to remind members of 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

September 2021

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2021 Board Member Elections

 

NOTICE OF ELECTION FOR TWO (2) TRUSTEES


 

In October 2021 members of the rank Investigator or rank inferior thereto, and all annuitants will have the opportunity to participate in the election for members of the Retirement Board of the Policemen’s Annuity and Benefit Fund of Chicago.

For a 3-Year Term: From 12/01/2021 through 11/30/ 2024

1. Investigator, Patrolman, or rank equivalent thereto Member

The term of one (1) elected member of the Retirement Board of the Policemen’s Annuity and Benefit Fund (Board), for any active member of the rank of Investigator, Patrolman, or rank equivalent thereto shall expire November 30, 2021. According to the Illinois Pension Code, one (1) member of the Board is to be elected from among the active members of the Chicago Police Department (CPD) of the rank of Investigator, Patrolman or rank equivalent thereto to fill the position for a 3-year term from December 1, 2021 through November 30, 2024.

Any active member of the CPD of the rank of Investigator, Patrolman or rank equivalent thereto may become a candidate by filing a petition with the Board signed by at least fifty (50) members of his or her own class rank who are qualified to vote in the election.

2. Annuitant Member

The term of one (1) elected member of the Board, to represent the Annuitants of the Fund shall expire November 30, 2021.  According to the Illinois Pension Code, one (1) member is to be elected from among any adult Annuitant who is not under conservatorship to fill the position for a 3-year term from December 1, 2021 through November 30, 2024.

Any adult Annuitant who is not under conservatorship may become a candidate by filing a petition signed by at least twenty-five (25) persons entitled to vote in the election. 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.

 

PETITIONS


Filing Petitions: Blank petitions may be obtained at the Fund’s office, 221 North LaSalle Street; Room 1626,  on or after August 2, 2021, between the hours of 9:00 a.m. and 4:00 p.m. or downloaded using the links below. Completed petitions must be personally filed between the hours of 9:00 a.m. and 4:00 p.m. in the Fund’s office from September 14-21, 2021.

PO Petition

Annuitant Petition

In addition, if you are interested in obtaining member information to use for a mailing, please submit the form below and notify your chosen printer they will need to sign a confidentiality agreement with this Fund.

PO Intent to Mail Form

Annuitant Intent to Mail Form

ELECTION DETAILS


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

Election Notice 2021

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Board Statement May 2021

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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