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

◊ SPECIAL NOTICE ◊

Pension Fund
Trustee Election

PolicemensPer Illinois Statutes, the terms of two members of the Retirement Board of the Policemen’s Annuity and Benefit Fund will be expiring November 30, 2015. One (1) member who represents the Annuitants & One (1) Member who represents the active members of the Police Department of the rank of Patrolman, Investigator, or equivalent rank will be subject to election. On Thursday, October 22, 2015, an election will be held for these positions. Only ballots received in the post office lock box by 9:00am, Thursday, October 22nd will be counted. • Please follow this link for more information. •

Pension Advisor

Executive Director Icon Spring Issue Number 55
On-Line News Letter Available For Download
[Download Link]

Policemens

Sufficiency Hearing

Board Sufficiency Hearing to be held on Thursday, October 1st, 2015, at 9 a.m. to approve the candidates and ballots for the two upcoming Trustee Positions. Terms expire November 20, 2015.

Retro Pay

As the Fund enters 2015, the most significant project at the top of the “to-do” list for staff is the retroactive pension adjustments that will be paid to any retired and disabled members with active service after July 1, 2012. The Fund has well over 1,000 calculations that need to be completed. Each calculation is done individually and independently. Unfortunately, there is NOT a one-step “go” button to prepare and complete these calculations. While the Fund’s staff will work with utmost urgency to get all retroactive adjustments calculated as soon as possible, the estimated timeframe to complete all calculations is approximately one year. Please note that in an effort to keep administrative costs very low, the benefit analyst group is a very lean group of hard working professional staff. This group will be calculating the retroactive adjustments, but they also will continue to process current retirements, disability applications, widow applications and resignation refunds. Your patience during this process is greatly appreciated!

2015 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 2014 the direct deposit dates are:

January 30, February 27, March 31 April 30, May 29, June 30, July 31, August 31, September 30, October 30, November 30, December 31.

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.

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.

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 7th
  • 2015 Holiday Schedule

    Upcoming Meeting Dates

    Sufficiency Hearing
    Thursday, October 1st, 2015, at 9 a.m.

    Investment Committee Meeting
    Monday, September 21st, at 9:00 am

    Retirement Board Meeting of
    Thursday, September 24th 9:00 am

    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 August 27th (Pending)

      Duty Claims
    • 10:00am Frank Ranieri
    • 10:20am Minerva DelRivero
    • 10:40am Richard Sanabria
      (Total & Permanent)
    • 11:00am Shannon Spaulding
    • Credit For Other Service
    • 11:20am George Newell
    • 11:40am Robin Cooper
    • Lunch
      Status Reviews
    • 12:30pm Melissa Aguliera
    • 12:50pm Neal Ivers
    • 1:10pm Nancy Moreno
    • 1:30pm Daniel O’Connor
    • 1:50pm Timothy O’Brien
    • 2:10pm Perry Whiteside

    Site Links

    Investment Meeting Web Estimate News Letter

    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

  • March 24 Tuesday
  • May 20, Wednesday
  • July 24, Friday
  • October 20, Tuesday
  • 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...