Page 24 - March 2021

Attorneys’ fees
Why the difference in retirement subsidies?
Greetings, retirees and soon-to-be retirees.
I recently received a question that warrants an explanation in reference to the Underwood court litigation: Why do some retirees receive a $55 subsidy while others only receive a $21 sub-
sidy?
Subsidy eligibility after 12/31/2019
Under current law, in order to be eligible for the subsidy beginning Jan. 1, 2020, you
will have to satisfy Requirement 3.a., meaning you have
to participate in a group health insurance plan for which the Fund offers to deduct premiums from your annuity, in accor- dance with the 1983 and 1985 amendments to the Illinois Pen- sion Code statutes.
call 312-744-3891. The Circuit Court also directed us to notify you that you may contact counsel for the named plaintiffs in the Underwood litigation, Krislov Law, at help@krislovlaw.com
or 312-606-0500.
Note that this is a court decision. The Fund is mandat-
ed to comply with the court’s order. (Keep in mind that at one time, all annuitants received a $55 subsidy until counsel for the Underwood plaintiffs rallied for an in- crease, which was adjusted [reduced] by the courts).
Lastly, please log into the Fund’s website at www.chi- pabf.org and take note that the site has been redesigned and is more user-friendly. If your personal information has changed, such as marriage, divorce, birth certificate of a new- born or a death benefit directive, it’s up to you to take the time to complete and return the new or corrected information to the
Fund.
Mike Lappe retired from CPD on a service pension after more than 37 years of experience. He served as an elected retirement board trustee for officers below the rank of sergeant. He is an ac- tive participant in educational programs for the Illinois Public Pension Fund Association (IPPFA) and currently serves as the vice president of The Retirement Board Policemen’s Annuity and Benefit Fund, City of Chicago.
MIKE LAPPE
Pension
REPORT
Please note that plaintiffs’ counsel Krislov Law has asked the Circuit Court to award attorneys’ fees from 2017-2019 subsi- dies, so the actual amounts paid to eligible annuitants may be reduced by attorneys’ fees, if approved by the Circuit Court.
Questions
If you have any questions about the contents of this article, please contact the Fund’s office at hcsubsidy@chipabf.org or
Lifelong Chicagoan representing those who serve and protect since 2008.
JONATHAN SCHATZ, JD/LLM
Law Office of Jonathan N. Schatz
33 North Dearborn, Suite 1930 • Chicago, Illinois 60602
(312) 343-2800 SCHATZFAMILYLAW@GMAIL.COM
Divorce • Parenting Issues • Pension Division • Child Support MATRIMONIAL & FAMILY LAWYER
24 CHICAGO LODGE 7 ■ MARCH 2021