Welcome to the Policemen's Annuity and Benefit Fund of Chicago
The Fund has hired a new Chief Investment Officer, Ms. Aoifinn Devitt, effective April 5, 2016. Ms. Devitt has worked with institutional clients for her entire investment career, which has spanned the US, Europe and Asia. Her prior experience includes work as a specialist consultant at Cambridge Associates Limited (London and Boston), establishment of Clontarf Capital, a research and consulting firm with focus on assisting public pension funds, work in the investment banking division of Goldman Sachs in London, and experience as a corporate attorney at Debevoise & Plimpton (New York and Hong Kong).
Aoifinn graduated from Trinity College Dublin with a first class degree in law and received a BCL (Oxon) and an MBA (INSEAD, Dean’s list). Please welcome Aoifinn to the Fund.
Prior to Aoifinn joining the Fund, Trustee and Lieutenant James Maloney served as the Fund’s Acting Chief Investment Officer, for approximately sixteen months.The Fund sincerely thanks him for his dedication and commitment to the Fund in this important role. Trustee Maloney will continue his role as Investment Committee Chair and Recording Secretary to the Retirement Board.
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.
Mandatory Signature Verification for Annuitants
The Fund sent a mandatory signature verification form to all annuitants in early March. All responses received have been recorded into the Fund’s system and signature verification continues. For those who have not yet responded, a second and final verification form was recently sent. Please respond ASAP to avoid any disruption in payment.
As staff reviewed the many signature verification forms received, many changes were noted, including address modifications, new phone numbers and power of attorney requests. Please make sure that you keep the Fund’s staff updated on these important changes, so that all communication sent to each annuitant is received.
2016 BENEFIT PAY DATES
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 2016 the direct deposit dates are:
January 29, February 29, March 31 April 29, May 31, June 30, July 29, August 31, September 30, October 31, November 30, December 30.
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.
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.
The Office will Be Closed
Thanksgiving - Day After
Upcoming Meeting Dates
Investment Committee Meeting
TBD - 2017
Retirement Board Meeting of
Tuesday, December 20th at 9:00am
As a reminder, the meetings of the Retirement Board trustees are always open to the public. We appreciate the interest and welcome all attendees.
Hearing Schedule for December
Tuesday, December 20th at 9:00am
2016 Pre-Retirement Seminars
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
Directions to Our Office [More]
A HISTORY OF THE FUND
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.