Firemen's Annuity and Benefit Fund of Chicago
 


A RETIREMENT FUND  DEDICATED TO THOSE WHO ARE THERE FOR OTHERS

  


Welcome to the Firemen's Annuity and Benefit Fund of Chicago's website. We hope you find this site informative, enjoyable and easy to use.    This website was designed with our member's needs in mind. Please feel free to offer any comments, questions or suggestions so that we can improve your website.

         

 

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The election results for the Active Trustee Special election are as follows:

Active
Thomas Cody (565)
Michael O’Neil (363)
Daniel Cusack (112)
Rodney Shelton (111)

The Final Summary Tally Sheet is also available.


 

The following document briefly outlines information regarding P.A. 100-0544 which allows for the transfer of creditable service to the Firemen’s Annuity and Benefit Fund of Chicago from any pension fund established under Article 4 of the Pension Code.

Service Credit Letter

If you are interested in transferring creditable service, please fill out the following form.

Transfer of Creditable Service P.A. 100-0544


 

The Firemen's Annuity and Benefit Fund of Chicago will be holding an election to fill the office of Active Member Trustee of the Retirement Board which becomes vacant on November 16, 2017 by reason of the resignation of a present incumbent.

Special Active Firefighter Member Election

 


 

Healthcare Inquiries:

For those who attended the FABF Retirement Seminar on Saturday, October 28, 2017 and all those with any questions regarding healthcare, you may contact Jack Byrnes by phone at (312) 454-6023 or email at jbyrnes@source1b.com for more information.


 

As requested at the pre-retirement seminar, below are the three recently enacted public acts...

PA 099-0506

PA 099-0905

PA 100-0023 Article 6 Portion


 

The ELECTION RESULTS for the Active and Annuitant Trustee elections are as follows:

 
Active Annuitant
Martin (673) Fortuna (1,186)
McPhillips (625)Stelnicki (230)
Cusack (208)Fogell (214)
Spreitzer (104)Westbrook (171)
Rokita (129)
Vaclavik (61)

The Pension Funding Seminar was held on Saturday, September 16, 2017 at 115 Bourbon Street. Below is a recording of the Funding Seminar in its entirety, with speakers from the Fund’s legal, actuarial, and investment consultants.




 

 


To learn more about what was discussed at the seminar, please see the following links:

 

Funding Seminar PowerPoint Slides

Chapter 9 Municipal Bankruptcy - A Case Study (Description Below)

This paper focuses on the allowance of US municipalities suffering financial hardship to file for Chapter 9 bankruptcy. The article provides case studies that show how the current laws surrounding Chapter 9 are more in favor of those in higher positions of power, proving that reforms to Chapter 9 are necessary to enhance its fairness and efficiency.

Harvey Firefighter's Pension Fund Lawsuit (Description Below)

This paper represents the lawsuit the Harvey Pension Fund issued against the City of Harvey on the premise that Harvey underfunded the Pension Fund and violated a 1996 settlement agreement where Harvey promised to make certain contributions to the Pension Fund. The Harvey Pension Fund filed a notice of appeal on the trial court’s findings that Harvey violated the pension statute but not that the Fund was on the verge of bankruptcy. The appeal agreed with the court’s ruling regarding Harvey’s violation of the Pension Fund statute, but found that the Pension Fund was, in fact on the brink of default because of Harvey’s blatant disregard of the Fund and lack of financial responsibility.

The Firemen's Annuity and Benefit Fund of Chicago is currently looking to fill the position of Defined Benefit Analyst at the Fund Office. Please click on the link below for information:

Defined Benefit Analyst

   

PUBLIC ACT 100-0023 BECAME LAW ON JULY 6, 2017
At the July 19, 2017 Board meeting, the Trustees of the Firemen’s Annuity & Benefit Fund of Chicago passed the following motion:

Motion to direct Fund staff and Fund counsel to take the steps to make the necessary calculations required to fully implement Public Act 100-0023 as of the annuitant August payments.

The Retirement Board is expected to formally approve the increases required by PA100-0023, as well as any retroactive payments due to retirees as a result of the passage of the Act, at the August 16, 2017 Board meeting, which would then be reflected in the effected members August 31, 2017 benefit payment.

Please CLICK HERE for copy of PA 100-0023, Article 6.

Click Here to read the July 25, 2017 PRESS RELEASE regarding the Fund's New Asset Allocation Strategy

UPDATE ON RETIREE HEALTH CARE
The Fund is providing a copy of an Illinois Supreme Court decision in a case entitled "KANERVA v. WEEMS. This case and the Court's decision has an impact on the City of Chicago's ultimate responsibility concerning retiree health care. The Fund will provide further updates on this matter as they develop.
         Click here for Kanerva v. Weems

 

The Retirement Board of the Firemen's Annuity and Benefit Fund of Chicago is actively pursuing the additional funding required from the City of Chicago pursuant to the existing laws governing the Fund.

Click here to read the letters sent to elected officials of the City of Chicago, State of Illinois, and Local 2 regarding proper funding of the Firemen's Annuity and Benefit Fund of Chicago.

The Fund will keep all members apprised of all developments concerning this matter  

The Ende, Menzer, Walsh & Quinn Retirees', Widows' and Children's Assistance Fund 's sole purpose is to provide financial assistance to the neediest widows and orphans of Chicago firefighters and paramedics. Please click the following link for more information.

     Ende Menzer Walsh and Quinn Retirees' Widows' and Children's Assistance Fund

Firemen's Annuity and Benefit Fund of Chicago has prepared general estimates for members that currently have 29 years and 1 day of service and will be at least age 55 prior to December 31, 2016 and for members that currently have 29 years and 1 day of service and will be at least age 55 prior to December 31, 2017. Please click the following links to see the information. You can contact the Pension Fund Office with any questions.

click here for 2016
click here for 2017


 

 

Firemen's Annuity and Benefit Fund of Chicago
20 South Clark Street, Suite 1400
Chicago, IL 60603

Phone: (312) 726-5823
Fax: (312) 726-2316