How do I update my beneficiary?
You can download the Death Benefit Directive form and return to the Fund through email to retirement@chipabf.com, regular mail or by dropping it off at the office. If you are unsure of your listed beneficiaries or need assistance please contact the Fund.
How do I get another copy of my annual contribution statement?
The contribution statements are printed and mailed by Northern Trust Bank and cannot be re-issued. The Fund can provide you with an alternative form of payment verification upon request.
How do I address the Board?
In accordance with the Open Meetings Act, 5 ILCS 120/2.06(g), the policy of the PABF Board allows any person to present comments before the Board. The public comment section is limited to 30 minutes overall, with each individual offered a maximum of 3 minutes to speak. It is recommended that any individual who wants to […]
Are audits ever performed on the Fund?
In compliance with state statue, the Fund’s records are audited every year by an independent auditor. Mitchel Titus is the Fund’s current auditor, and more than 10 years of Audited Financial Statements can be found in the Fund Records section on the Fund’s website.
Who manages investments for the Fund?
NEPC is the current investment consultant for the Fund. According to the pension code, an RFP (Request For Proposal) for an investment consultant shall be conducted every three years. A list of individual firms, hired by the Board of Trustees to manage investments for the Fund can be found in the Investment Section of the […]
How is the plan funded?
The plan is funded through three sources: employer contributions, employee contributions, and investment returns. Every sworn police officer (Tier 1 & Tier 2) contributes 9% of their salary, including duty availability, to the pension fund. The employee contribution is divided as follows: According to the pension code, beginning in tax levy year 2020 the City […]
What type of retirement plan is this?
The PABF is a single employer, defined benefit pension plan. A defined benefit pension plan guarantees a specific retirement benefit amount for each participant predetermined by a formula based on the employee’s earnings history, tenure of service, and age. The Fund is a qualified 401(a) plan under the Internal Revenue Code.
How do I contact the Fund?
The Fund is located at 221 N LaSalle St, Suite 1626, Chicago, IL 60601. The main phone number is 312-744-3891. The phone numbers and email address of staff can be found on the Fund Directory.