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Oct 13, 2017 03:05 PM

2017 Trustee Election Winner

Trustee Election 2017 In accordance with State law, an election was held to select the Retirement Board Trustee representing the LABF’s annuitants for a three-year term that begins December 2, 2017. The candidates in the LABF 2017 Trustee Election were: JAMES CAPASSO (retired December 2012) DANIEL SHEEHAN (retired August 2014)

 
Sep 28, 2017 02:18 PM

Tier 2 Members Must Take Action by November 15, 2017

On July 6, 2017, Senate Bill 42 was enacted into law, becoming Public Act 100-0023 (“Act”). The Act provides additional funding to the Laborers’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago (“LABF”) and creates a new “tier” of pension benefits. Furthermore, the Act allows any person who first became a member of the LABF or another Designated Reciprocal Fund on or after January 1, 2011, but prior to July 6, 2017 (commonly referred to a “Tier 2 Member”), to irrevocably

 

2017 Trustee Election

In accordance with State law, an election is scheduled to be held to select the Retirement Board Trustee representing the LABF’s annuitants for a three-year term that begins December 2, 2017. Portions of the rules governing the election are summarized below. For a complete list of election rules, visit our website at LABFChicago.org/2017-trustee-election/

 
Jul 28, 2017 12:00 PM

Public Act 100-0023

Public Act 100-0023 On July 6, 2017, Senate Bill 42 was enacted into law, becoming Public Act 100-0023. The new law provides additional funding to LABF and creates a new tier of pension benefits. More detailed information regarding the new law and how it impacts LABF’s members will soon be made available on our website.

 
Jun 05, 2017 11:46 AM

IMPORTANT!!! Pension Benefits Suspensions

The 2017 Annual Signature Verification Forms were mailed April 12th. The deadline to return the completed forms was May 12, 2017. Please be advised, if you currently receive a monthly annuity payment and have not submitted your completed notarized form to the Fund, your payments will be suspended effective July 1, 2017. Your payments will resume when your completed notarized form has been received and validated.

 
Apr 28, 2017 02:59 PM

Senate Bill 14 Passes Both Houses

On April 27, 2017, Senate Bill 14 was called to a vote in the Illinois House and passed on a roll call vote of 63-45-2. This bill, very similar to Senate Bill 2437 which was vetoed by Governor Rauner on March 24, 2017, has now passed in both Houses. Mr. Rauner has 60 days from the date it is delivered to him to either sign or veto the bill. The LABF will continue to update you as things progress.​

 
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Apr 12, 2017 09:12 AM

Annuitant Signature Verification Forms Mailed - Return By 5/12/17

The Annual Annuitant Signature Verification Forms have been mailed and are to be returned to the Fund by 5/12/2017

 
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Apr 12, 2017 09:10 AM

Participant Statements

The 2016 annual Statement of Participant's Accumulated Contributions has been mailed to active members. If you have not received your statement or need to update your personal information, please contact the LABF.

 
Apr 07, 2017 03:57 PM

Legislative Reform Update-Senate Bill 14

On January 25, 2017, Senate Bill 14 was called to a vote in the Illinois Senate and passed. This bill, very similar to Senate Bill 2437 which was vetoed by Governor Rauner on March 24, 2017, passed out of Committee on Friday, April 7, 2017. It is unclear when Senate Bill 14 will be called on the floor of the House. The LABF will continue to update you as things progress.

 
Mar 27, 2017 01:09 PM

Governor Rauner Vetoes Senate Bill 2437

In an effort to address concerns regarding the long-term solvency of the Laborers’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago (LABF), House Amendment 3 to Senate Bill 2437 was filed on November 14, 2016 by Representative Barbara Flynn Currie. On December 1, 2016, the Illinois House of Representatives passed House Amendment 6 to Senate Bill 2437. The Illinois Senate passed the amended Bill on January 9, 2017 and it was sent to the governor on January 24, 2017.

 
 
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