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.
Funding issues related to the MEABF were recently discussed in The Bond Buyer Magazine.
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At the Board of Trustee's Regular Meeting on Thursday, May 17, 2018, the Fund's Actuarial Consultants, Segal Consultants, presented the 2017 Actuarial Report. You can find a copy of the full report here. An abridged presentation of the Actuarial Report can be accessed here.
Public Act 100-0023, effective July 6, 2017, creates a third tier of participants in the MEABF of Chicago. Further information can be found here.
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.