News

September 3, 2020
Abridged 2019 CAFR

MEABF's 2019 Abridged CAFR has been completed and is being mailed to all active and retired members of the Fund. You can also see this document online by clicking here.

August 18, 2020
NOTIFICATION REGARDING THE AUGUST 20, 2020 BOARD MEETING

DUE TO THE FACT THAT THE UNITED STATES SECRETARY OF HEALTH AND HUMAN SERVICES DECLARED THAT COVID-19 PRESENTS A PUBLIC HEALTH EMERGENCY AND GOVERNOR PRITZKER ISSUED A DISASTER PROCLAMATION IN RESPONSE TO COVID-19, THE REGULAR MONTHLY MEETING OF THE RETIREMENT BOARD OF THE MUNICIPAL EMPLOYEES’ ANNUITY AND BENEFIT FUND OF CHICAGO, SCHEDULED FOR THURSDAY, AUGUST 20, 2020 AT 9:00 A.M. WILL BE CONDUCTED BY AUDIO CONFERENCE. 

 

A QUORUM OF THE BOARD OF TRUSTEES OF THE FUND WILL PARTICIPATE IN THE MEETING VIA AUDIO CONFERENCE.  THE AGENDA OF THE AUGUST 20, 2020 MEETING WILL BE LIMITED TO FUND MATTERS THAT REQUIRE IMMEDIATE APPROVAL.  A VERBATIM RECORDING OF THE MEETING WILL BE MAINTAINED BY THE FUND.  

 

MEMBERS OF THE PUBLIC ARE ENCOURAGED TO PARTICIPATE IN THE AUGUST 20, 2020 MEETING VIA AUDIO CONFERENCE.  TO PARTICIPATE, PLEASE UTILIZE THE FOLLOWING TELEPHONE NUMBER: (888) 788-0099.  USE THE FOLLOWING MEETING ID NUMBER: 880 9949 5540 AND PASSWORD 733105 IN ORDER TO BE ACCEPTED INTO THE AUDIO CONFERENCE.

June 26, 2020
2019 Financial Reports

The Retirement Board of MEABF recently accepted the following reports:

 

 

Click each link to review these documents.

March 31, 2020
MEABF OFFICE COVID-19 OPERATIONS UPDATE

In light of Governor Pritzker's extension of the State of Illinois Shelter in Place order through April 30, the MEABF will continue its remote work operations. Our members will not see any disruption in any annuity or disability payments during this time.

 

Staffing on site will be at a minimum, so walk-in appointments and/or document drop-offs will not be given access to the suite. 

 

Thank you for your patience and please continue to look for updates on this website or our Facebook

March 25, 2020
COVID-19 UPDATE - PENSION VERIFICATION FORMS

Due to the continuing efforts of MEABF staff to adhere to Governor Pritzker's "Shelter in Place" order, the Pension Verification project, scheduled to begin April 1, has been delayed. Further information regarding this project will be provided after Fund Offices open in mid-April.

 

Thank you for your patience and continued support of MEABF staff.

March 17, 2020
COVID-19 UPDATE - MEABF OFFICES

In light of the COVID-19 pandemic, and the Center for Disease Control’s recommendation regarding limiting gatherings, the MEABF has adopted a remote work policy similar to the City of Chicago. The MEABF is rescheduling counseling appointments to conference calls through at least April 13.

 

Our members will not see any disruption in any annuity or disability payments during this time period.

 

Staffing on site at the MEABF Offices will be at a minimum, so walk-in appointments and/or document drop-offs will not be given access to the suite.

 

Thank you for your patience and please continue to look for updates on this website or our Facebook page.

March 13, 2020
COVID-19 Update

As you may know, the World Health Organization (WHO) and the Center for Disease Control and Prevention (CDC) is responding to an outbreak of respiratory disease caused by a coronavirus known as COVID-19. The virus has been detected in numerous locations internationally, including in the United States, including Cook County, Illinois.

 

At MEABF, the safety, health and wellbeing of our members and employees remains our top priority.

 

We have taken steps to ensure the welfare of our members and employees.  This includes instructing employees who feel ill to stay home and consult their healthcare providers.  We are also urging all employees to be vigilant about frequent hand washing and the use of hand sanitizer. Cleaning and sanitizing of areas of frequent contact, such as door handles and other surfaces has been elevated. Hand sanitizers are available throughout our offices. We also ask that if any of our members experience flu-like symptoms before their scheduled meeting, to please contact us.  We will be happy to reschedule you for a phone consultation.

 

There have been no reported cases of the virus in our staff. We are closely monitoring WHO and CDC statements regarding COVID-19 cases and following the guidelines from these agencies and the local health departments.

 

Some ways to protect you from cold, flu and coronavirus include:

  • Avoiding close physical contact (handshake, hug, kiss, etc.) with people, especially those who may be sick.
  • Covering your cough or sneeze with a tissue, then throwing the tissue in the trash
  • Avoid touching your eyes, nose, and mouth
  • Cleaning and disinfecting frequently touched objects and surfaces
  • Washing your hands often with soap and water for at least 20 seconds
  • Staying home when you are sick, except to get medical care

 

For more information on protecting yourself from COVID-19, please review the information provided by the Center for Disease Control and Prevention: https://www.cdc.gov/coronavirus/index.html

 

The MEABF will continue to monitor the situation and adapt as it develops.

 

February 19, 2020
City of Chicago Retirees - 2019 Healthcare Subsidy Reimbursement

The Circuit Court of Cook County has ordered that all eligible City of Chicago employee annuitants (both current and future employee annuitants, but not spousal or child annuitants) of the MEABF are entitled to receive a health insurance premium subsidy of $25 per month from the MEABF, representing a partial reimbursement for healthcare costs, for each month after December 31, 2016, in which they qualify.

 

Notices for members who qualify for a partial healthcare subsidy reimbursement for 2019, but have no record of participating in the current City of Chicago group healthcare plans or Labor group healthcare plan are being sent beginning Friday, February 7, 2019. 

 

Be on the lookout for notices in your mail and be sure to complete the enclosed form with all pertinent information, in order to get your 2019 reimbursement.

 

Per the Circuit Court's finding, City of Chicago retirees must participate in the current City-sponsored or Labor-sponsored healthcare plans and have deductions taken from their annuities in order to qualify for the reimbursement, effective January 1, 2020, and going forward.

February 18, 2020
The MEABF Is Installing A New Phone System

We are excited to announce that the MEABF is installing a new phone system. This new system will allow the Fund to track calls, follow up quickly to inquiries and enhance our current member services.

 

While this transition is underway, we ask for a bit of patience should there be any interruption to our phone service.

Phishing Emails - Beware!

The Fund has received calls regarding emails being sent from the exchange @parabuilds.com, marketing services for members. These emails include imbedded links asking members to follow the link for more information.

 

These are phishing emails. Please do not click on any embedded links and delete these emails. 

 

The Fund does not market its services in this way and does not send emails from an exchange other than meabf.org.

 

December 2, 2019
MEABF 2020 Calendar

The Fund's 2020 calendar is now available on the Fund's Calendar Page. Click here to see the Fund Office Holidays, the Board Meeting Calendar and Direct Deposit dates.

November 5, 2019
City of Chicago Retirees - Annuitant Group Health Insurane Information is Being Sent Your Way

City of Chicago Annuitants! Be on the lookout for group healthcare insurance information!

 

Information regarding the two, current healthcare options is being mailed to your most current address on file from Blue Cross/Blue Shield of Illinois and Aetna.

 

Please contact these organizations directly for benefit information and costs.
 

October 8, 2019
2018 Abridged CAFR

The Board of Trustees has published the 2018 Abridged Comprehensive Annual Financial Report (the "CAFR"). This document is being mailed to all active and retired members of the MEABF.

 

Please read this document carefully as it contains crucial information regarding your pension's current funding status.

 

You can find the 2018 Abridged CAFR here.

October 7, 2019
2019 Trustee Election

Notice is hereby given that the results of the Regular Election for one Trustee of the Municipal Employees’, Officers’ and Officials’ Annuity and Benefit Fund of Chicago (the Fund), which was to be held October 21 – 6:00 p.m., October 25 will be certified since the candidate, Mr. Thomas J. McMahon, is unopposed.

 

Notice is also given that voting opportunities listed in the original Notice of Election will not occur for the Regular Election October 21 – 6:00 p.m., October 25, 2019, due to the certification.

 

In accordance with the Rules of Election, individuals meeting all the requirements for candidacy must have filed their petitions for candidacy along with all the necessary documentation by 4:30 p.m., Friday, October 4, 2019.

 

Mr. Thomas J. McMahon was the only petitioner to file for candidacy.

September 30, 2019
The Fund Has Hired a New Executive Director

Following a competitive search, the Municipal Employees’, Officers’ and Officials’ Annuity and Benefit Fund of Chicago (referred to as the “Fund”) has hired Dennis White as its new Executive Director effective as of November 1, 2019.

 

Mr. White will transition into his new role at the Fund with significant public pension fund experience from his years of service as an elected trustee of the County Employees and Officers Annuity and Benefit Fund and the Forest Preserve District Employees and Officers Annuity and Benefit Fund of Cook County (the “County Fund”) and his brief tenure in 2018 as the Interim Executive Director of the County Fund.

 

In addition to his leadership experience with the County Fund, Dennis has a strong background in law and financial management in the public sphere. Prior to becoming Executive Director, he served for over twelve years as the Chief Attorney for the Forest Preserve District of Cook County.  

 

“We look forward to working with a leader of Mr. White’s caliber as our Executive Director,” said Thomas McMahon, the Fund’s current president.

 

Added White: “I am honored to lead the Fund as Executive Director and look forward to working with the Board and the Fund’s staff to address the Fund’s mission of providing benefits and safeguarding the assets of the Fund on behalf of the Fund’s participants and beneficiaries.”

September 20, 2019
City of Chicago Retirees Health Insurance Subsidy Reimbursement Notification

City of Chicago annuitants who are members of the MEABF and meet all of the following criteria:

 

  1. Annuitant must have retired on or after August 23, 1989;
  2. Annuitant must have been hired prior to April 4, 2003;
  3. Annuitant must have at least 15 years of City of Chicago service;
  4. Annuitant must be 65 years old or older; and 

 

Annuitant must have:

 

a. participated in a group healthcare plan for which the Fund offers to deduct health insurance premiums from monthly annuities in accordance with the 1983 and 1985 amendments to the Illinois Pension Code Statutes (currently either the Blue Cross/Blue Shield plans sponsored by the City of Chicago or the Aetna plans sponsored by the Labor Benefits Association);

 

OR

 

b. for the period between January 1, 2017, and December 31, 2019, participated in any health insurance plan and paid their healthcare insurance coverage themselves, either through an account on which the annuitant is named or an account established for the benefit of the annuitant.

 

The MEABF will begin mailing notices regarding the lump-sum refund to which they may be entitled, as well as a notice with instructions on receiving the partial subsidy reimbursement for the months they did not participate in either the Blue Cross/Blue Shield plans sponsored by the City of Chicago or the Aetna plans sponsored by the Labor Benefits Association.

 

August 13, 2019
City of Chicago Retirees Health Insurance Subsidy Reimbursement Notification

The Circuit Court of Cook County has ordered that all eligible City of Chicago employee annuitants (both current and future employee annuitants, but not spousal or child annuitants) of the MEABF are entitled to receive a health insurance premium subsidy of $25 per month from the MEABF, representing a partial reimbursement for healthcare costs, for each month after December 31, 2016 in which they qualify.

 

Notices for members who qualify, and have a record of participating in the current Blue Cross Blue Shield or AETNA group healthcare plans are being sent notices regarding the healthcare subsidy reimbursement beginning Wednesday, August 14, 2019. 

 

If you receive a notice and have any questions, please call the Fund at 312-236-4700 and a representative will assist you.

August 2, 2019
City of Chicago Retirees Health Insurance Subsidy Reimbursement Notification

The Circuit Court of Cook County has ordered that all eligible City of Chicago employee annuitants (both current and future employee annuitants, but not spousal or child annuitants) of the MEABF are entitled to receive a health insurance premium subsidy of $25 per month from the MEABF, representing a partial reimbursement for healthcare costs, for each month after December 31, 2016 in which they qualify.

 

Notices for members who qualify, but have no record of participating in the current City of Chicago group healthcare plans are being sent beginning Friday, August 2, 2019. 

 

Additional notifications to qualified City of Chicago employee annuitants who participated in the current City of Chicago group healthcare plans will be mailed no later than August 15, 2019.

 

If you receive a notice and have any questions, please call the Fund at 312-236-4700 and a representative will assist you.
 

July 23, 2019
Unclaimed Property

The MEABF is attempting to locate individuals aged 70½ years and older who have money remaining in the Fund. IRS Rules dictate that individuals who reach age 70½ must begin taking minimum distributions from retirement benefits.

 

A list of these individuals is located here.

 

If you or someone you know is on this list, call the Fund at 312-236-4700 and dial extension 7391 to speak with a Benefits Counselor.

June 21, 2019
2018 Audit Report

At the Fund's most recent Board Meeting, held on June 20, 2019, the Fund's Auditors, Bansley & Kiener presented the most recent audit report. You can find the report here.

May 29, 2019
2018 Actuarial Report

At the Board of Trustee's Regular Meeting on Thursday, May 23, 2019, the Fund's Actuarial Consultants, Segal Consultants, presented the 2018 Actuarial Report. You can find a copy of the full report here. An abridged report can be seen here.

December 21, 2018
City of Chicago Retirees Participating in the City Sponsored Healthcare - ALERT

Some Retirees Have Not Cashed Their Healthcare Premium Refund Checks.

 

Retirees or their Legal Representatives may request that the City reissue their refund Checks.

 

Here’s How:


To search by name to determine whether a City retiree has an uncashed healthcare premium refund check for the period of 2003 to 2013, please go to the City’s website by clicking here.

 

If you cannot access the website through the link provided, copy and paste the following web address to your search bar: 

 

https://www.chicago.gov/city/en/depts/dol/supp_info/uncashed-healthcare-premium-refund-checks.html 

 

If a City retiree finds or sees that he/she has an uncashed healthcare premium refund check, he/she should then follow the instructions provided for requesting the check be reissued.

 

**Please note that the Municipal Employees’ Annuity and Benefit Fund of Chicago has no information relating to refund checks and any such inquiry should be directed to the City of Chicago consistent with the instructions on the City’s website.

November 9, 2018
2018 Trustee Election Results

The results of the 2018 Trustee Election have been determined. Uncontested results are as follows:

 

Jeffrey Johnson  990

Timothy G. Guest 499

Spoiled 114

 

27,520 participants were mailed voting instructions.

 

565 votes were recorded online, 929 eligible ballots were mailed in, for total participation of 1,494 members, or 5.4% total participation.

 

Election results will be certified at the next Regular Board Meeting on November 15, 2018.

 

On behalf of the staff, we’d like to congratulate Jeff Johnson on his victory!

 

October 10, 2018
IT Risk Functional Assessment Request for Information ("RFI")

The Retirement Board of the Municipal Employees' Annuity and Benefit Fund of Chicago is requesting information from qualified firms interested in providing an assessment of the Fund's current IT system. Please review and complete the following documents. Necessary guidelines, requirements and contacts can be found in the RFI document. This RFI will remain open until further notice.

 

You can see the RFI here.

October 1, 2018
Unclaimed Property - Inactive Members Over 70.5 Years Old

The MEABF is attempting to locate individuals aged 70½ years and older who have money remaining in the Fund. IRS Rules dictate that individuals who reach age 70½ must begin taking minimum distributions from retirement benefits.

 

A list of these individuals is located here.

 

If you or someone you know is on this list, call the Fund at 312-236-4700 and dial extension 7391 to speak with a Benefits Counselor.

July 19, 2018
2017 Abridged CAFR Report

The 2017 Abridged CAFR Report is scheduled to be mailed by July 31, 2018. An electronic version of the report can be accessed here.

July 3, 2018
2017 CAFR

The 2017 Comprehensive Annual Financial Report ("CAFR") is now available on the Fund's website. Click here to review the CAFR.

June 21, 2018
MEABF Audit Report

The 2017 Audit of Fund Financials was presented to the Board of Trustees on Thursday, June 21. To review the report, please click here.

June 7, 2018
MEABF In The News - Bond Buyer

Funding issues related to the MEABF were recently discussed in The Bond Buyer Magazine.

 

You may be required to register to view the article.

May 18, 2018
2017 Actuarial Report

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.

May 9, 2018
MEABF Sexual Harassment Policy

The Retirement Board of the Municipal Employees' Annuity and Benefit Fund of Chicago regularly adopts policies consistent with applicable State and Federal Laws. Most recently, the Fund updated and adopted its Sexual Harassment Policy consistent with Illinois Public Act 100-0554, which reads in part:

 

"a) Each officer, member, and employee must complete, at least annually beginning in 2018, a sexual harassment training program. A person who fills a vacancy in an elective or appointed position that requires training under this Section must complete his or her initial sexual harassment training program within 30 days after commencement of his or her office or employment. The training shall include, at a minimum, the following: (i) the definition, and a description, of sexual harassment utilizing examples; (ii) details on how an individual can report an allegation of sexual harassment, including options for making a confidential report to a supervisor, ethics officer, Inspector General, or the Department of Human Rights; (iii) the definition, and description of, retaliation for reporting sexual harassment allegations utilizing examples, including availability of whistleblower protections under this Act, the Whistleblower Act, and the Illinois Human Rights Act; and (iv) the consequences of a violation of the prohibition on sexual harassment and the consequences for knowingly making a false report. Proof of completion must be submitted to the applicable ethics officer. Sexual harassment training programs shall be overseen by the appropriate Ethics Commission and Inspector General appointed under this Act."

March 19, 2018
Pension Matters Correction

The MEABF became aware of a typographic error made in the transcription of the most recent Pension Matters (v47).

 

The Investment Account Summary Total Contributions is $288 million, making the Ending asset value, December 31, 2017 $4,288 million.

 

We regret the error and have corrected the online version of Pension Matters.

March 5, 2018
Pension Matters Is Back!

We are excited to provide Pension Matters for our membership! Click here to be taken to our most recent publication.

October 2, 2017
Connect With the MEABF

We're on Facebook! Look us up and follow us for the most recent information about the Fund. Use @chimunipension to connect with our Facebook page and please share with any other members who would like to be in touch with what is happening with the Fund.

September 26, 2017
Public Act 100-0023

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.

March 19, 2016
Illinois Freedom of Information Act Disclaimer

It has come to our attention that information obtained legally from the Fund through the Illinois Freedom of Information Act, is being utilized in solicitation of services by private, third party vendors. These vendors may be representing that personal information was provided by the Fund and that the Fund is aware of and condones their business practices.  Although Illinois Law requires disclosure of information regarding our members which includes names, age, retirement date, annuity amount, final employer, title at retirement, credited service, current title, current reported salary and current employer, the Fund never discloses personal, private information including addresses, phone numbers, email addresses or beneficiary information.
 

Please note that the Fund does not endorse any products or authorize outside entities to contact members on its behalf.
 

Should you have any questions regarding this policy, please contact the Fund at 312-236-4700.