Page 22 - April 2017 Newsletter

Managing retirement and other life changes
Please remember that the Illinois Pension
etc.), you must notify the Pension Fund and bring into thisofficetheoriginalsupportingdocuments.Anad- ministrative clerk will electronically scan the doc- uments into the pension system and then return the documents to you before you exit the pension office. Before you leave, however, check to see who is on your death benefit as the beneficiary. Chances are, it’s still the same person you listed during your first week in the academy, when you filled
out your pension documents.
Lastly, this office has been swamped with officers
who are planning to retire. The fact is, as I write this ar- ticle and within the next few months, an unprecedented number of officers in the history of the Chicago Police Department are waiting in the wings to retire. I can only suggest that the mayor double the amount of new hires per month. Over the term of my position as your trustee, I have butted heads with those in the mayor’s office to stop double-counting officers who are detailed out of a district to a unit to inflate a bogus number that makes it seem as if we’re fully staffed in the CPD. I could go on and on, but I’m running out of space. The FOP can fill you in as well.
So on that note, be safe, my brothers and sisters. Stay smart. Don’t allow yourself to be “thrown under the bus” by those who hate us or some lazy political hack.d
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credit require approval from the board of trustees, and all purchases must be completed and paid in full prior to retirement. In addition, some service purchases require an interest charge to the member. This charge increases as time passes, so the sooner a member purchases the service credit, the less expensive the payment will be, in general. There is no charge to the member for making a service purchase inquiry or application. It is to your ad- vantage to contemplate these matters sooner rather than later. Failure to obtain approval from the board of trustees and failure to pay for a service purchase prior to retire- ment will result in no service credit.
Having mentioned the purchase of service time, I must also remind you again that as you experience changes in your life, or if you may have some changes in the near future (e.g., marriage, divorce, newborn child, adoption,
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service time with the Pension Fund in a variety of situations. If you are contem- plating retirement in the near or not- so-near future, please make sure that youcontactthePensionFundassoonas possible and make an application to pur- chase service credit. All purchases of service
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es provide for the purchase of
Pension News
UPDATE
MIKE LAPPE
22 CHICAGO LODGE 7 ■ APRIL 2017