Welcome to MEABF.org
We take care of the people who take care of Chicago.
MEABF is a defined benefit, single employer benefit plan that was established in 1921 by an act of the Illinois General Assembly to provide disability and retirement benefits to qualified employees of the City of Chicago and the Chicago Board of Education. Our sole purpose is to pay earned benefits to our members, which is funded by a combination of member contributions, taxes levied by the City of Chicago, and investment earnings from Plan reserves. MEABF is a component unit of the City of Chicago, and as such, is included in the City of Chicago's financial statements as a pension trust fund.
Thet Cook County Circuit Court overturned Public Act 98-0641. The effect on your benefit is that the 3% compounded annual increase is restored. Back on January 1, your monthly annuity was increased by an amount less than the 3%. This payment represents the adjustment in your annual increase retroactive to January 1, 2015. The benefit due October 1, 2015 will represent your new, monthly, gross annuity with the 3% annual increase.
The MEABF of Chicago welcomes Mr. Jeffrey Johnson to the Retirement Board as it's newest member. Mr. Johnson's term begins December 1, 2015.
Effective January 1, 2016 the City of Chicago insurance rates for the annuitant health care plan will be changing. Please use the following link for additional information available to annuitants: http://chicagoretireebenefits.org.
Our mission is to provide benefits for our members, and our goals are to provide excellent service and preserve the fiscal integrity and financial stability of the Fund.