FABF Website Admin / Friday, July 19, 2024 / Categories: News & Events Employer Funding Resolution At its July 17, 2024, regular meeting, the Retirement Board ("Board") of the Firemen's Annuity and Benefit Fund of Chicago (the "Fund") passed a funding resolution setting forth the statutorily required employer contribution from the City of Chicago (the "City) for the City's budget year 2025 with payment to be made to the Fund in 2026. Under Article 6 of the Illinois Pension Code, the statutory employer contribution owed to the Fund in 2025 is $445,321,101 and contains the following elements: The actuarially calculated required statutory contribution of $442,733,000 [ILCS 40, Act 5, Article 6-165(a)], the Retiree Healthcare (OPEB) Subsidy of $780,000 [40 ILCS 5/6-164.2], the Exempt Rank Contribution of $1,666,101 [ILCS 40, Act 5, Section 6-211(g)], and the Death Benefit Contribution of $142,000 [ILCS 40, Act 5, Section 6-168]. Annual Audit New Legislation - COVID Disability Benefits Print 108