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Aug 11, 2016 03:49 PM

2016 Trustee Election

NOTICE is hereby given that, under the terms of the Illinois Pension Code, the Board of Trustees of the Laborers’ and Retirement Board Employees’ Annuity and Benefit Fund of Chicago (“Board”) is empowered and instructed to call for and hold an election for one active employee member to serve as trustee on the Board for a term beginning December 2, 2016 and ending December 1, 2019. Any employee participant who holds or will have held a position by virtue of certification and appointment as a

 

IMPORTANT! Suspension of Annuity Payments

The 2016 Annual Signature Verification Forms were mailed April 15th. The deadline to return the completed forms was May 13, 2016. 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, 2016. Your payments will resume when your completed notarized form has been received and validated.

 

2015 Trustee Election Results

An election for active employee trustee was held at the Fund’s offices on Thursday, October 15th. Trustees Roa and Hamburger, comprising the Election Committee, declared James “Jim” Joiner (Department of Water Management) the winner. Mr. Joiner’s 3-year term will begin December 1, 2015. The vote totals were as follows: James M. Joiner – 168 votes Frank Earullo – 64 votes Joseph Rinella – 19 votes David Torres – 18 votes Shawn McCormick-Mahon – 8 votes Michael E. Sullivan – 6 votes

 
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2016 Retiree Healthcare Open Enrollment

The City of Chicago is offering open enrollment for retirees to change their healthcare plan effective January 1, 2016. Please review your packet in addition to the website www.chicagoretireebenefits.org for researching your healthcare options. The deadline for enrolling in a different health care plan has been extended to October 20th.

 

What the Public Act 98-0641 Ruling Means For You

On June 9, 2014, the Illinois Governor signed Senate Bill 1922 into law. Senate Bill 1922, which became Public Act 98-0641, made several changes to pension benefits beginning January 1, 2015. Namely, the Act called for reductions in future automatic annual increases in annuity (commonly referred to as the “COLA”) and required increased pension contributions from active employees in exchange for additional funding from the City of Chicago and other safeguards that would have put the LABF on a

 
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Court Finds Public Act 98-0641 Unconstitutional

On July 24, 2015, the Circuit Court of Cook County issued a ruling regarding Public Act 98-0641, the statute which provided for actuarially-based funding and modified pension benefits for participants and retirees of the LABF. The Act was declared unconstitutional and void in its entirety. The Court held the statute unconstitutional because it violated the Pension Benefits Clause in the Constitution of the State of Illinois. Click here to view the Court's opinion.

 
 
Results: 26 Articles found.
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