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.
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.
The 2017 Abridged CAFR Report is scheduled to be mailed by July 31, 2018. An electronic version of the report can be accessed here.
The 2017 Comprehensive Annual Financial Report ("CAFR") is now available on the Fund's website. Click here to review the CAFR.
The 2017 Audit of Fund Financials was presented to the Board of Trustees on Thursday, June 21. To review the report, please click here.
Funding issues related to the MEABF were recently discussed in The Bond Buyer Magazine.
You may be required to register to view the article.
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.
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."
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.
We are excited to provide Pension Matters for our membership! Click here to be taken to our most recent publication.
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.
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.
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.