Welcome to MEABF.org
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.
We take care of the people who take care of Chicago.
February 3, 2015
CIO Search UpdateMEABF of Chicago is seeking applications for a Chief Investment Officer. Please see the job description, along with where to submit a resume and cover letter. Please note the application deadline is Monday, February 23, 2015 at 4:30 p.m.
Please note that relocation expenses are not provided.
Thank you for your interest.
December 18, 2014
ATTENTION: EMPLOYEE ANNUITANTS (RETIREES)The Municipal Employees’ Annuity and Benefit Fund of Chicago (the “Fund”) was served regarding the lawsuit Mary J. Jones, et al. v. Municipal Employees’ Annuity and Benefit Fund of Chicago. The lawsuit requests a Temporary Restraining Order and Preliminary Injunction regarding the implementation of Public Act 98-0641.
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.
December 10, 2014
Increase in Employee ContributionIn accordance with PA 98-0641, the employee contribution rate for members of this Fund will increase from 8.5% to 9% beginning in the payroll covering service from January 1, 2015 to January 15, 2015. Employee contribution rates will continue to increase annually as follows:
2015 9.0 %
2016 9.5 %
2017 10.0 %
2019 and beyond 11.0%
November 12, 2014
Annual Annuity Increase - 2015In accordance with PA 98-0641, the annual annuity increase in 2015 for eligible annuitants of the Municipal Employees' Annuity and Benefit Fund of Chicago has been calculated and provided to the Fund by the Illinois Department of Insurance. You can read the announcement here.
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.
December 10, 2014
New Trustee - Kurt A. Summers, Jr.The Retirement Board would like to introduce Kurt A. Summers, Jr. as a newly appointed Trustee to the Retirement Board of the MEABF of Chicago. As Treasurer of the City of Chicago, Mr. Summers becomes an ex-officio trustee of the Fund. We welcome Mr. Summers and look forward to his input. To learn more about Mr. Summers, please visit the Treasurer of the City of Chicago website at www.chicagocitytreasurer.com.
November 12, 2014
Public Act 98-0641On June 9, 2014, Governor Quinn signed Public Act 98-0641 into law. This Act of the General Assembly effects the annual contibutions of active Fund members, annual contributions of the Plan Sponsor and annual increases in annuity for annuitants.
Click here for a summary of the Act.
Click here to be taken to examples of the Act's effects on annuities.