Board of Trustees
Effective January 1, 1922, The Illinois State Legislature created the Retirement Board of the Policemen’s Annuity and Benefit Fund for the benefit of the police officers servicing the City of Chicago, their surviving spouses and children. The Board is comprised of four appointed members and four elected members, three of whom are elected from the ranks of active members of the Chicago Police Department and one elected annuitant.
The Board appoints an Executive Director who is charged with ensuring that all Board decisions and policies are implemented and properly executed. The Board also approves of all hiring's requested by the Executive Director.
The Board elects one of its own members as President, one as Vice President, and one as Recording Secretary, and is by law required to hold regular meetings each month. The Board, among its many other duties, is required by law to: (a) consider and pass upon all applications for annuity and benefits; (b) invest the monies of the Fund pursuant to statutory regulations; (c) make rules and regulations for the proper conduct of the affairs of the Fund; (d) have an audit of the accounts of the Fund made at least once each year by a certified public accountant; and (e) submit a detailed report of the affairs of the Fund to the State and to the City Council of Chicago each year.
Representing the Public
Juan Carlos Avila
Chief Financial Officer, City of Chicago
Kurt A. Summers, Jr
Representing the Officers
Kenneth A. Hauser
James P. Maloney
Brian E. Wright
Michael K. Lappe
The Fund came into being in the year 1922 by virtue of an Act of the Illinois legislature. The Fund was created by the State of Illinois for the expressed purpose of providing retirement, survivors and disability benefits to the City of Chicago Police officers.
The Pension Code to which this Fund is subject applies to employees in cities of more than 500,000 inhabitants, which means that at the present time, it is applicable only to the City of Chicago.
The Fund is administered in accordance with Chapter 40 ILCS 5/5 101 et. sq. and The Fund’s powers, duties and responsibility are derived from the statutory language thereof.