September 22, 2017
A stress test utilizing various economic events was presented to the Board of Trustees at the September 2017 Regular Meeting. The Board and staff utilize tests like this to develop the most fiscally prudent investment strategy.
A copy of the presented Stress Test can be reviewed here.
The Trustees of the Retirement Board of the Municipal Employees' Annuity and Benefit Fund of Chicago are accepting proposals for Fund Medical Provider. The requirements and RFP document can be found on the Fund's Procurement page or by clicking here.
The deadline for responses to this Request for Proposal has been changed to 4:00 p.m., Tuesday, October 31, 2017.
August 22, 2017
Information regarding the next election for Trustee of the MEABF Retirement Board can be found here.
Currently, the phones for the MEABF are not working. Our IT Department is working on the issue.
June 12, 2017
Currently, the Fund is experiencing an outage with our phone provider. We will post notification when service has been restored.
Thank you for your patience.
THE MEABF is currently searching for qualified candidates for the position of Accountant I. If you are interested in applying for this position, please see our Careers page for the job description.
May 26, 2017
MEABF offices will be closed Monday, May 29, 2017, in observance of Memorial Day.
Please note, the Regular Meeting of the Board of Trustees for October, 2017 has been changed to Wednesday, October 25, 2017.
Annual Pension Verification Forms have been mailed to all annuitants who receive a pension from the MEABF. Please complete the form, have it notorized and return it to the MEABF no later than September 30, 2017.
If you have any questions, please do not hesitate to contact the the Fund's Annuitant Services group.
March 2, 2017
The Regular Board Meeting originally scheduled for Thursday, April 20 has been changed.
The new meeting date is Tuesday, April 25. You can see all of the scheduled Board Meeting dates here.
MEABF Offices will be closed Monday, March 6 in observance of Pulaski Day.
December 6, 2016
MEABF Offices will be closed the following days in December:
- Friday, December 23 (in lieu of Lincoln's Birthday)
- Monday, December 26 (Christmas Day observed)
- Friday, December 30 (in lieu of Casimir Pulaski Day)
MEABF Offices will be closed Monday, January 2, 2017 in observance of New Year's Day.
For the 2017 MEABF Office Calendar, please click here.
November 18, 2016
If you are a City Retiree who has purchased a 2017 group insurance product from BlueCross/Blue Shield of Illinois, please click here for very important requirements.
October 31, 2016
The winner of Friday's election for the term December 1, 2016 - November 20, 2019 is Thomas J. McMahon.
Thank you to all members who came out to vote.
The 2017 Trustee Election is scheduled for Friday, October 28 at 321 North Clark Street. You can see the Notice of Election here.
***Please note that a picture ID is required to enter the building to vote.***
Please click here for information regarding City of Chicago retiree healthcare information.
September 23, 2016
Recently, the Fund's Executive Director and Segal Consulting, the Fund's Actuaries, presented to the Illinois House regarding proposed HB 705. You can see the presentation materials and link to the live version of the presentation here.
The MEABF is currently soliciting resumes for individuals interested in the position of Benefits Counselor. If you are interested in applying for this role in the MEABF organization, please review the job qualifications on the Fund's Career page by clicking here.
August 24, 2016
The next election for Trustee of the Retirement Board of the Municipal Employees' Annuity and Benefit Fund of Chicago will occur on Friday, October 28, 2016 between the hours of 6:00 a.m. and 6:00 p.m. at 321 North Clark Street, 24th Floor.
Election Notification and the Rules of Election can be found on the Fund's Election page and by clicking here.
July 8, 2016
The Board of Trustees adopted a Policy regarding the protection of our Membership Data. To see how we protect your data, click here.
The Fund's most recent newsletter, Pension Matters v46 and the 2015 Abridged Annual Report are available for your review. You can find these publications by clicking here.
June 8, 2016
The Fund's accounting firm, Bansley and Kiener, LLP, completed the 2015 Audit Report and will present their findings to the Retirement Board on Tuesday, June 28 at the regularly scheduled meeting of the Board. Their final report has been added to our website. You can access the report here.
May 23, 2016
The Fund's actuarial accounting firm, Segal and Company presented the 2015 Actuarial Report to the Retirement Board on Thursday, May 19 at the regularly scheduled meeting of the Board. Their presentation has been added to our website. You can access the report here.
Please note that the next, regularly scheduled meeting of the Retirement Board will occur on Tuesday, June 28 at 9:00 a.m.
The 2015 Actuarial Report is now available on the Fund's website for review. You can access the the report by clicking here.
April 28, 2016
The Retirement Board is actively searching for Securities Litigation Firms. The RFP can be found on the Fund's Procurement page here.
February 22, 2016
The Municipal Employees’ Annuity and Benefit Fund of Chicago (“Fund”) has informed the City of Chicago, the State of Illinois, and the bargaining units that represent the majority of the employees covered by the Fund that the Fund faces the risk of insolvency unless it receives proper funding. Public Act 98-0641, which in part included a schedule to move the Fund to actuarially based funding, was ruled unconstitutional by the Circuit Court of Cook County because certain provisions of Public Act 98-0641 were held to improperly diminish or impair existing pension benefits. As a result of the court’s ruling, the Fund returns to a funding formula based on a multiplier of employee contributions, which is insufficient to adequately fund the Fund. The Circuit Court’s ruling currently is on appeal to the Illinois Supreme Court but the Fund has no idea when a decision will be released or what the decision will be.
Click here to read the letter recently sent to the elected officials of the City of Chicago, State of Illinois, and the bargaining units. As you will note, the letter also includes a report showing the current funding situation of the Fund as well as the Laborers’ Fund, including comparisons to other pension funds within the State of Illinois.
January 4, 2016
December 29, 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.
November 19, 2015
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.
October 26, 2015
Please see the Fund's Election Notice for qualifications to vote and candidate information.
All voters must bring a picture I.D.
September 21, 2015
For eligible employee annuitants, a special one-time payment will be made to you the week of September 21st by our benefit service provider, The Northern Trust. You will receive, in the mail, either an electronic fund transfer advice or physical check, if you do not have your monthly annuity payment made by direct deposit. The message printed on the advice or check is as follows:
The 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.
August 20, 2015
July 30, 2015
We ask for your patience during the historical time and we will make every attempt to complete these requirements in a timely manner.
May 26, 2015
You can read the Illinois Supreme Court's ruling here.
April 10, 2015
March 16, 2015
February 3, 2015
Please note that relocation expenses are not provided.
Thank you for your interest.
December 18, 2014
As administrators of the Fund, we are responsible for administrating the Fund in accordance with the Illinois Pension Code, which includes the changes made by Public Act 98-0641. Until the Fund is told otherwise, either by a court of jurisdiction or the General Assembly, we must administer the Illinois Pension Code as written.
To the best of our ability, we will attempt to keep you posted on the status of this lawsuit and any effect that it will have on you.
Please click here to see an example of how a monthly annuity was calculated for 2015 in accordance with PA 98-0641.
2015 9.0 %
2016 9.5 %
2017 10.0 %
2019 and beyond 11.0%
November 12, 2014
Eligible annuitants who receive under $22,000 annually, will receive a 1% increase based on their 2014 gross annuity.
Eligible annuitants who receive $22,000 or more annually, will receive a 0.85% increase based on their 2014 gross annuity.
Click here for a summary of the Act.
Click here to be taken to examples of the Act's effects on annuities.
October 30, 2014
ANNUITY AND BENEFIT FUND OF CHICAGO
A Pension Trust Fund of the City of Chicago
321 North Clark Street, Room 700
Chicago, Illinois 60654
NOTICE OF RESULTS
SPECIAL ELECTION HELD ON OCTOBER 24, 2014
THOMAS J. MCMAHON, ELECTED TRUSTEE
Term: December 1, 2014 – November 30, 2016
Notice is hereby given that a Special Election for one Trustee of the Municipal Employees’, Officers’ and Officials’ Annuity and Benefit Fund of Chicago (the Fund), was held on Friday, October 24, 2014.
In accordance with the Election Rule 12(b), Thomas J. McMahon is declared winner of the 2014 Special Election.
The Committee on Election hereby certifies that Mr. McMahon is declared winner of the election scheduled on October 24, 2014.
The Retirement Board
MUNICIPAL EMPLOYEES’, OFFICERS’ AND OFFICIALS’ ANNUITY AND BENEFIT FUND OF CHICAGO
By: Anthony C. Clancy, Recording Secretary
A Special Election for Trustee will be held on Friday, October 24, 2014 from 6:00 a.m. to 6:00 p.m. at 321 North Clark Street on the 4th Floor. The Notice of Special Election can be accessed here.
September 25, 2014
*The Fund would like to clarify that home addresses are not required for individuals who sign petitions for the Regular and/or Special Elections for Trustees. The Rules of Election, specifically Rule #5, have been amended to delete the home address requirement. An updated version of the 2014 Rules of Election is available on the Fund's Election page. The nominating petitions that have been distributed in connection with the 2014 Regular and Special Elections remain unchanged.
Should you have any questions, please do not hesitate to contact the Fund.
August 4, 2014
July 31, 2014
June 10, 2014
An overview of Public Act 98-0641 can be found here.
Inquiries can be directed to the Fund’s Benefits staff at 312-236-4700, x7391.
An overview of Public Act 98-0641 can be found here.
Inquiries can be directed to the Fund’s Annuitant Services staff at 312-236-4700, x7394.
If you are receiving an annuity from the Fund, correspondence regarding annual increases in annuity can be found here.
If you are contributing to the Fund, correspondence regarding changes in contributions can be found here.
An overview of the legislation can be found here.
May 28, 2014
You may update personal information, including updated beneficiary information, by visiting the FORMS section of the website, downloading the appropriate forms and mailing them to the Fund with updated information.
April 23, 2014
- This form is to ensure the benefits are still being paid to the intended recipients
- The form must be SIGNED and NOTARIZED by the individuals whose name appears on the top of the form
- If you are the representative or agent for our member and your name is not on the form, please contact our office during business hours (8 a.m. – 4:30 p.m.)
- You are welcome to come to the office to fill out the form, but please be aware the building is a secured building and you MUST HAVE AN APPOINTMENT. Please call the front desk at (312) 236-4700 to schedule a visit.
- The forms cannot be faxed or emailed; the original must be received in the office.
March 28, 2014
February 24, 2014
January 23, 2014
The MEABF has issued an RFP from qualified institutions capable of providing actively managed global ex-U.S. fixed income investment management services. MEABF is currently targeting one or more mandates totaling approximately $250 million. Interested investment managers may click here for a complete set of RFP documents. Responses are due to the Fund’s consultant by 3:00 PM CST on February 7, 2014.
November 21, 2013
The MEABF has been informed by the CPS that it will not offer retiree healthcare to employees who retire after August 31, 2013. Should you have any questions regarding this policy, please contact the CPS's Human Capital Office at 773-553-4748.
You can read their letter to us here.
October 11, 2013
Any questions you may have regarding the City of Chicago Retiree Healthcare plan should be directed to their Benefits Service Center at (877) 299-5111.
September 20, 2013
August 12, 2013
These successes are tempered by a significant operating deficit, as employee and employer contributions are well below the amount of benefits paid out per year. The deficit level is unsustainable and will continue to deplete MEABF assets if there is not an agreed upon solution.
We once again encourage all stakeholders to come together to address the structural problems that cause these deficits.
July 24, 2013
Marty Durkan, Board President
June 28, 2013
May 23, 2013
April 26, 2013
February 8, 2013
January 16, 2013
December 17, 2012
November 9, 2012
October 30, 2012
You may have heard that HJRCA 49 will have an effect on the “pension clause” in the Illinois Constitution. The pension clause provides that benefits for active members cannot be reduced. We don’t believe HJRCA 49 will have any impact on the current constitutional protection......Read more
September 28, 2012
August 31, 2012
If you have NOT filled out your Pension Verification Form yet please contact our office IMMEDIATELY at (312) 236-4700, press 2 to be connected to the Annuitant Services Department. Checks/Deposits have been SUSPENDED for those who have failed to complete the form.
City of Chicago v. Marshall Korshak
Please note that the Fund does not honor "walk-in" appointments. We regret any inconvenience this may cause.
Thank you for your patience.
June 29, 2012
- Members retiring from the Chicago Board of Education can download complete retirement packets here .
- Members retiring from the City of Chicago can download complete retirement packet here .
Please carefully read which required documents are necessary in order to successfully complete your application.
Please mail in your completed packet. You will receive a notice that your application has been received.
May 25, 2012
Please call (312) 236-4700 and press 2 to speak with an Annuitant Services Representative if you have not received your form. Forms are due by June 30, 2012. Failure to return these forms will result in a suspension of your pension.
Please click here to obtain the FAQ’s regarding this mailing.
December 2, 2011
November 10, 2011
September 27, 2011
August 7, 2011
June 13, 2011
January 1, 2011
November 30, 2010
September 9, 2010
PUBLISH LEGAL NOTICE IN THE CHICAGO TRIBUNE.