It's a new year, which means new opportunities to engage members in fresh and impactful ways, and build upon what we’ve done thus far as we continue in our work administering pension, disability, and other benefits to employees of Cook County and the Forest Preserve District.
Through key initiatives and improvements including the implementation of a prescription drug cost savings program, and the late-fall relocation of the Cook County Pension Fund (CCPF) office, we continued to enhance our services to members in 2017. We’re already continuing in that spirit for 2018.
Last year, in an effort to provide greater value to Medicare-eligible retirees while confronting rising medication costs, we implemented a prescription drug savings program administered by SilverScript, a member of the CVS Health family. Since last January, more than 8,500 retirees have been enrolled in the program.
In December, we moved to a new office a short distance from its previous location in downtown Chicago. Members have embraced the change as we are now able to offer greater privacy and security in one-on-one meetings with staff for retirement plan and benefits needs.
In 2017, the $353.8 million in supplemental Employer contributions made to the Cook County Fund were instrumental in helping the fund meet pension obligations on an annual basis. The added contributions made it possible for assets to remain fully intact in the fund’s investment strategy, which experienced another favorable year.
For 2018, we are continuing to explore ways to further strengthen and expand our services to you while containing costs. Initiatives include enhancements to our retiree health benefits education offerings, more in-person opportunities for active members to learn about their pension benefits, and the extension of PensionNotes to an e-newsletter format to reach members who prefer email.
Also in the new year, CCPF welcomes, the newly-elected Employee Trustee, Kevin Ochalla, to the Retirement Board.
We are pleased to share what’s in store for 2018 and look forward to serving you.
Read more about what's happening at CCPF in the Winter 2018 edition of PensionNotes, CCPF's newsletter for retiree and active members.