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Senate Bill 440 - COLA
Tuesday, 15 June 2021
Originally Posted on February 24, 2017
We wish to take a moment to thank the elected members of the Policeman's Annuity and Benefit Fund of Chicago (Pension Board) for standing up for those they were elected to represent, by voting for full compliance of the language of Senate Bill 440 which increased the Cost of Loving Adjustment (COLA) for all annuitants who were born before January 1, 1966.
By a vote of 4-3, the full 3% increase awarded to the affected annuitants. Thank you to Patrolman Trustee Mike Lappe, Sergeant Trustee Brian Wright, Lieutenant Trustee Jim Maloney and Retiree Trustee Ken Hauser for their understanding, determination and focus of "what doing the right thing" truly means.
We pledge ourselves to promote the health and welfare of all Chicago Law Enforcement Officers and their immediate families; to raise and maintain the professional standards of the Chicago Law Enforcement Officer; and to represent Chicago Police Officers in affairs relative to the administration of the department.