Firemen's Annuity and Benefit Fund of Chicago
 


A RETIREMENT FUND  DEDICATED TO THOSE WHO ARE THERE FOR OTHERS

  


 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

TIER 1: ANNUITIES FOR PARTICIPANTS HIRED BEFORE JANUARY 1, 2011

WIDOW’S ANNUITIES
Eligibility for widow’s annuities requires that the spouse be married to the Active/Retired  participant at the date of his death.

Widow’s Compensation Annuity (Duty Death)
When a participant is killed in the performance of duty, the compensation widow shall receive 75% of the current annual salary attached to his rank and grade, this benefit is increased proportionately with all future department increases to salary.

Widows of Members That Die After Retirement
A widow of a participant  that dies after retirement is entitled to receive 50% of the participant’s annuity at the time of his death or the minimum widow’s annuity allowed by the Statute.  The current minimum widow’s annuity at December 2009 is $1,000.00 per month for her lifetime.  These annuities cease upon the widow’s death.  There are no annual increases provided for the widows of participants that enters service prior to January 1, 2011.

Widows of Participants Who Die While in Active Service (Non-Duty)
If death occurs after 1 ½ years of service, the widow’s annuity shall be the greater of; (1) 30% of the salary attached to the rank of first class firefighter (minimum of step 6), but does not exceed the final step of the first class firefighter pay scale or (2) 50% of the retirement annuity the deceased participant would have been eligible to receive if he had retired from service on the day before his death and qualified for the minimum formula annuity (age 50 with at least 20 years of service) for her lifetime.

Effective January 16, 2004, the widow’s annuity payable to the widow of a participant who dies on or after July 1, 1997 while an active participant  with at least 10 years credible service shall be no less than 50% of the retirement annuity that the deceased participant would have been eligible to receive if he had attained age 50 and 20 years of service on the day before his death and retired on that day.

Widows of Participants Withdrawn From Service and Death Occurs Prior to Age 50
If a participant who has resigned from service prior to age 50, with at least 10 years of service dies, his widow would be entitled to either an earned annuity or the minimum widow’s annuity allowed by the Statute.  The current minimum widow’s annuity at December 2009 is $1,000.00 per month for her lifetime.  These annuities cease upon the widow’s death.

Eligibility for Widow’s Annuity: Marriage on Disability or Retirement
Beginning on January 16, 2004, the limitation on marriage after retirement and the limitation on marriage during disability no longer apply to a widow who was married to the deceased participant for at least one year immediately preceding the date of death.

The widow of a participant who received a refund of contributions for widow’s annuity at the time of his retirement is not eligible for widows benefits unless the refund is repaid to the Fund, with interest at a rate of 4% per year compounded annually, from the date of the refund to the date of repayment.  Benefits commence upon the receipt of the repayment

Widow’s Remarriage – and Resumption of Benefits
Effective January 16, 2004, a widow’s annuity shall no longer be subject to termination or suspension due to remarriage.

Any widow’s annuity that was previously suspended by reason of remarriage prior to January 16, 2004 shall, upon application, be resumed, as of the date of the application.  This resumption shall not be retroactive.

CHILD’S ANNUITY
Minor children of participants  who die while in active service, on disability or while receiving an annuity are eligible for children’s annuity benefits.  The amount equal to 10% of the current annual maximum salary attached to the position of first class firefighter, for each child.  If there is no surviving parent, full orphan benefits amount to 15% of the same.

The benefit terminates upon the attainment of age 18, prior marriage or death.  Total benefits paid to all members of a family cannot exceed 60% of the maximum current first class firefighter salary.  This maximum benefit is increased to 100% for the family of a participant killed in the line of duty.

If the child is handicapped, upon proper application and documentation, benefits are available in the same manner as child’s annuity benefits and are payable until the earlier of death, the handicap ceases or until marriage.

PARENT’S ANNUITY
Natural parent(s) of a participant who dies while in active service, on disability or while receiving a minimum formula annuity are eligible for parent’s annuity benefits provided, that at the time of the participant’s death; 1) no widow or unmarried child under the age of 18 years of age are entitled to an annuity under other provision of the Code; 2) and that satisfactory proof shall be presented to the Board that the participant was contributing to the support of his parent or parents.

The benefit is equal to 18% of the participant’s current annual salary at the time of death or his retirement per living dependent parent.

TIER 2: ANNUITIES FOR ELIGIBLE PARTICIPANTS HIRED ON OR AFTER JANUARY 1, 2011

WIDOW’S ANNUITIES
Eligibility for widow’s annuities requires that the spouse be married to the Active/Retired participant at the date of his death.  When a participant marries while in receipt of disability benefits or after retirement, the marriage must exist for at least one year prior to the participant’s death for a widow to become eligible for benefits.  Any refund of spousal contributions paid to the participant at the time of retirement must be repaid prior to any otherwise eligible widow commencing benefits.

Spouses of a person who first become a participant under this Article on or after January 1, 2011, the annuity to which the surviving spouse, children, or parents are entitled under this provision shall be in the amount of 66 2/3% of the participant’s annuity at the date of death.

Eligibility for Widow’s Annuity
The widow of a participant who received a refund of contributions for widow’s annuity at the time of his retirement is not eligible for widow’s benefits unless the refund is repaid to the Fund, with interest at the rate of 4% per year compounded annually, from the date of the refund to the date of repayment.


CHILD’S ANNUITY

Minor children of participants that die while in active service, on disability or while receiving an annuity are eligible for children’s annuity benefits.

Children of a person who first become a participant under this Article on or after January 1, 2011, the annuity to which the surviving spouse, children, or parents are entitled under this provision shall be in the amount of 66 2/3% of the participant’s annuity at the date of death.

The benefit terminates upon the attainment of age 18, marriage or death.

If a child is handicapped, upon proper application and documentation, benefits are available in the same manner as child’s annuity benefits are payable until the earlier of death, the handicap ceases or until marriage.


PARENT’S ANNUITY

Natural parent(s) of a participant who dies while in active service, on disability or while receiving a minimum formula annuity are eligible for parent’s annuity benefits provided, that at the time of the participant’s  death; 1) no widow or unmarried child under the age of 18 years of age are entitled to an annuity under other provision of the Code; 2) and that satisfactory proof shall be presented to the Board that the participant was contributing to the support of his parent or parents.

Eligible parent dependents of a person who first become a participant under this Article on or after January 1, 2011, the annuity to which the surviving spouse, children, or parents are entitled under this provision shall be in the amount of 66 2/3% of the participant’s annuity at the date of death.


AUTOMATIC ANNUAL INCREASES FOR SUFVIVORS OF TIER 2 PARTICIPANTS
The monthly annuity of a survivor of a participant shall be increased on the January 1st after the attainment of age 60 by the recipient of the survivor’s pension and each January 1st thereafter.

Each annual increase shall be calculated at 3% or one-half of the annual unadjusted percentage increase (but not less than zero) in the consumer price index-u for the 12 months ending with the September preceding each November 1, whichever is less, of the originally granted retirement annuity. If the annual unadjusted percentage change in the consumer price index-u for a 12-month period ending in September is zero or, when compared with the preceding period, decreases, then the annuity shall not be increased.             
                

   
   
       
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