Welcome to the Policemen's Annuity and Benefit Fund of Chicago
IMPORTANT NOTICE – PLEASE READ CAREFULLY
May 15, 2013,
The City of Chicago has sent the following letter to annuitants regarding their retiree health care plan. Please read this letter if you participate in this plan. Please also note that the information in this letter does NOT pertain to dental or vision benefits. The staff of the Fund has no further information at this time, but updates to the website will be provided as further information is made known to the Fund's staff.
Letter from the Mayor
Dated June 21, 2013
NEW BOARD MEMBERS
The Retirement Board of the Policemen’s Annuity and Benefit Fund of Chicago congratulates and welcomes Police Officer Michael Lappe to the Retirement Board. Trustee Elect Lappe represents the rank of Patrolman and he began to serve as Trustee for a three year term effective December 1, 2012. . .
Effective January 2013, the mayor appointed Juan C. Avila as a Board member, replacing outgoing Michael Conway. Thank you Mr. Conway for your numerous contributions to the Fund, we will miss you. Juan Avila comes to the Fund with 22 years of financial service industry experience. Prior to joining Toroso, he spent 3 years as a Senior Vice President with Mesirow Financial where he co-led an investment advisory practice. . .
RETIREMENT BOARD OFFICERS
At its regular February meeting the Trustees voted the officer positions on the Retirement Board. Kenneth A. Hauser was re-elected as Board President; Stephanie Neely was elected as Board Vice President; Lieutenant James P. Maloney was re-elected Recording Secretary. The trustees serve in their officer positions on the Retirement Board until the December meeting of the Board.
Effective January 1, 2013, the Fraternal Order of Police Lodge #7 contracted with a new provider for retiree group dental/vision coverage. The new provider is Delta Dental of Illinois. The Fund does not contract with any agencies to provide insurance coverage for retirees, this service is performed by the Fraternal Order of Police or the City of Chicago (in the case of group medical coverage). However, upon approval by the Board of Trustees at the January 31, 2013, meeting, the Fund is now forwarding all pension deductions for dental and vision benefits to Delta Dental. The Fund does not administer this benefit. The administrator of all dental and vision benefits is now Delta Dental and any changes desired to coverage levels must be made through Delta Dental. Their phone number is 1-800-323-1743. Any changes made with Delta Dental are then communicated to the Fund in a monthly data file, so that the appropriate deductions are made from each retiree's pension payments. Should there be any questions on dental or vision coverages, premiums, explanation of benefits, etc., please contact Delta Dental, the administrator of the plan.
Sworn Police members are eligible to purchase up to 2 years pension credit for prior Active Military service. The application is on our website which 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.
Pension AdvisorThe Spring 2013
News Letter is Now Available For Download
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The Office will Be Closed
Upcoming Meeting Dates
Monthly Investment Meeting
Board of Directors Meeting
Friday, December 20th, at 9:00am
Contacting the Office
Directions to Our Office [More]
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]
Active MembersWhen making plans for retirement we suggest attending a Pre-Retirement Seminar. The seminar is one-day which offers information on a variety of topics to assist in your future planning. Enrollment is conducted by contacting CPD Employee Resource Services Division at 312- 745-5342. There are certain qualifications required before enrolling.
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 50,000 or more.