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The Investment Meeting of the Retirement Board of the Policemen’s Annuity & Benefit Fund of Chicago scheduled for Monday, February 23, 2026 has been CANCELLED.

The special meeting of the Retirement Board of the Policemen’s Annuity & Benefit Fund of Chicago scheduled for Thursday, February 19, 2026, starting at 9:30 am. has been CANCELLED.

A special meeting of the Retirement Board of the Policemen’s Annuity & Benefit Fund of Chicago has been scheduled for Wednesday, February 18, 2026, starting at 12 noon.

The agenda for the special meeting can be viewed via this link.

Please note that this meeting is subject to an in-person quorum of the Board, as well as the availability of other pertinent attendees.

Thank you to all members who voted in the  2026 Special Election for the Office of Annuitant Member Trustee for the residual term that expires November 30, 2027.

The election took place from January 29, 2026 thru February 9, 2026.  Per the independent election firm that administered the election, the results are as follows:

-Saul Del Rivero:  2,400 votes

-Eugene J. Roy:    2,152 votes

Saul Del Rivero received a majority (52.7%) of the votes.

Per the election rules, Any person wishing to contest the results of an election may do so by providing an affidavit to the Fund’s office signed by the person or persons contesting any election and setting out the reasons why the declared result was inaccurate. The affidavit must be received within two (2) days after the result of the canvass has been given the candidate(s).  For this particular election, the 2 day period to submit an affidavit ends at 4:30PM on Tuesday, February 17, 2026.

Once any affidavits contesting the results of the election are addressed, or the 2-day period noted above ends with no affidavits received, the results of the election will be final

Detailed rules concerning the Trustee Election are available at the PABF Office and via the following link: Election Rules.

It is with heavy hearts that we share news that PABF Trustee Thomas J. Lonergan III passed away on December 20, 2025.

We are thankful for his tireless efforts as the trustee representing retired members and surviving spouses.

We are also grateful for his the many years of dedicated service with the Chicago Police Department.

Our thoughts and prayers are with Trustee Lonergan’s friends and family.

May he rest in peace.

The Fund is in the process of sending Continuing Eligibility Affidavits to all Retired Members and Surviving Spouse Members.

The Fund sends these out every few years to ensure that recipients of annuity benefits are valid.

The ORIGINAL form must be completed in its entirety, must be notarized and returned to the Fund’s office (221 N. LaSalle Street, Suite 1626, Chicago, IL 60601) by June 30, 2024.

Failure to return the completed ORIGINAL form by June 30, 2024 will result in suspension of your benefits.

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.

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

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.