Frequently Asked Questions

Print this Page Email a Friend

Home About The Fund Frequently Asked Questions

Frequently Asked Questions

General

Q: Where can I get information regarding my retirement plan choices?
A: You may request a copy of the Pension Booklet from the Pension Fund office or from your department’s Human Resources department.

Q: What type of plan is the pension plan?
A: Your pension plan is a 401(a) plan. The mandatory 8.5% employee contribution is made on a pre-tax basis – meaning that you do not pay income tax on your contribution.

Q: Can members borrow from their pension plan?
A: No. By law you are not allowed to borrow from or against your pension plan. Once you become an active contributing member of the pension plan, the only two actions that can be taken are a full refund (applicable provision apply) or annuity payments (provided that you have retired and fulfill the annuity eligibility requirements).

Q: Can members withdraw from their pension plan while working?
A: Only members that have separated from service are allowed to withdraw their money, and if they elect to do so, the entire amount must be refunded or rolled into an IRA. Pursuant to Pension Code, withdrawals are permitted only to those who qualify after they have ended their service with Cook County.

Q: How do I submit a change of address?
A: The Fund can only permanently change the address of annuitants. If you are still an active employee, the Fund can store a temporary address. Please call the Fund and request a change of address form to be mailed to your address or you can request the form in person at our office. You may submit the completed change of address form in person, by mail or fax to the Fund.

Q: How do I find out if my current or previous employer is/was part of the reciprocal system?
A: The Reciprocal Funds are listed below:

Chicago Teachers’ Pension Fund
Illinois Municipal Retirement Fund
Judges’ Retirement System of Illinois
General Assembly Retirement System
Laborers’ Annuity & Benefit Fund of Chicago
Metropolitan Water Reclamation District Retirement Fund
Municipal Employees’ Annuity & Benefit Fund of Chicago
Park Employees’ Annuity and Benefit Fund of Chicago
State Employees’ Retirement System
State Universities Retirement System
Teachers’ Retirement System

Annuity

Q: What is Optional? Can I pay for it?
A: The "Optional Plan", when active, provided the member with the "option" to have an additional 3% withdrawn from their paycheck to provide an additional 1% annuity benefit for every year they contributed to the Pension fund. The provision closed on June 30, 2005. Payments for any additional optional ended at that time.

Q: My late spouse was a member, to what benefits am I entitled?
A: Provided that your spouse was either an actively employed member or a retired member at the date of their death, you may be entitled to a monthly annuity as well as health insurance benefits through the Pension Fund. Please contact the Fund for further information.

Q: I just filed for retirement, how can I find out how much money I can expect?
A: You are encouraged to contact the Fund prior to terminating your employment. Our retirement counselors can walk you through your options and provide an estimate. Please contact us for further information.

Q: I haven’t received a pension check this month, why?
A: If you are to receive a paper check; We can initiate a "stop payment" on your check after 10 business. Please contact us for further assistance. If you are set up with a direct deposit: Please contact your bank for further assistance.

Health Benefit

Q: How do I cancel or make changes to my retiree Health Benefit?
A: You can make changes to your health benefit during the annual open enrollment period OR at any time during the year, if you experience a qualified change. If you do experience a qualified change, please contact the Fund to request a suspension of coverage form. You may refer to the Health Benefit Handbook for more information.

Q: When is Open Enrollment?
A: Open Enrollment is held every year during the Fall. For the 2010 plan year, the open enrollment period will be November 2 through Nov 25 2009

Q: Will my Health & Group Benefits change now that I’ve retired?
A: Upon retirement, you can elect COBRA (continuation of your active health benefits) OR, if eligible, elect to enroll into the retiree health and group benefit. Please contact us for further information.

Disability

Q: I’m on disability – how is my pension benefit affected?
A: While you are on disability contributions are made for you as though you are working, and you receive all pension credit as though you were working.

Planning To Retire

Q: How do I enroll into the pension plan?
A: Pursuant to Illinois Pension Code, you are automatically enrolled in the pension program with an 8.5% payroll deduction. This is managed through coordination with your payroll department and the Fund.

Q: How long does it take to process an annuity request?
A: Annuity applications take 10-12 weeks from date of retirement to process.

Q: How long do I have before I’m eligible to receive an annuity?
A: In general, if you meet minimum criteria of having 10 years of service and at least 50 years of age, you are eligible for a monthly annuity.

Q: What documents do I need to apply for retirement?
A: We will need the following:

your birth certificate
your spouse’s birth certificate and marriage certificate (if married)
any death certificates (if widowed)
any divorce decrees (if divorced)
birth certificates of any dependents you would like to cover for health insurance (if applicable)

In addition, anyone over 65 that you wish to cover under health insurance needs proof of Medicare Part A and B or written certification from the Social Security Administration that you are ineligible for Medicare Part A.