Pension News - FABF
Pension News - FABF
Pension News - FABF
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Spring 2013<br />
PENSION NEWS<br />
PUBLICATION OF THE FIREMEN’S ANNUITY & BENEFIT FUND OF CHICAGO<br />
TWENTY SOUTH CLARK STREET- SUITE 1400 CHICAGO, ILLINOIS 60603 TELEPHONE (312) 726-5823<br />
Office Hours - 8:00 a.m. to 4:30 p.m. - Monday through Friday<br />
http://www.fabf.org<br />
RETIREMENT BOARD<br />
Ex-Offi cio Members Elected Members<br />
Charles Stewart III, First Deputy Fire Commissioner Anthony R. Martin, Fund Secretary<br />
Stephanie Neely, City Treasurer, Vice-President Michael Shanahan, President<br />
Amer Ahmad, City Comptroller Dan Fabrizio, Elected Active Member<br />
Susana Mendoza, City Clerk of Chicago Walter Carlson, Annuitant Member<br />
FROM THE SECRETARY ANTHONY R. MARTIN<br />
The underfunded status of the public employee retirement systems in the state of Illinois will continue to command<br />
the forefront of political and journalistic discussion until there is a long term solution concerning the appropriate level of<br />
required employer funding of these systems. The lack of any comprehensive solution to remedy historical underfunding<br />
of the state’s pension systems in a manner that is consistent with Article XIII of the Illinois constitution (the <strong>Pension</strong><br />
Protection Clause) has contributed to the lowering of Illinois’ bond rating to the worst of all fi fty states.<br />
The city of Chicago has its own pension mess which was created by administration policies disastrous to the<br />
well-being of its employees’ retirement systems. Non-public safety employee funds were adversely impacted by early<br />
retirement incentives and employer contribution holidays to free up revenue for other city spending. Public safety funds<br />
on the other hand are facing depletion from decades of chronic underfunding. The Firemen’s Annuity and Benefi t Fund<br />
of Chicago is currently 23-28% funded depending on the measure used. The Policemen’s Annuity and Benefi t Fund of<br />
Chicago is just slightly better at 30-35% funded.<br />
In the four years and three months that Governor Quinn has been in offi ce since the Blagojevich fi asco and the<br />
twenty three months that Mayor Emanuel has been in charge of the city of Chicago, nearly all of the legislative initiatives<br />
put forward in Springfi eld by the state of Illinois and city of Chicago carry a common theme: employees should contribute<br />
more for less in benefi ts. The enactment of PA 96-1495 created a second tier of benefi ciaries comprised of all employees<br />
hired after January 1, 2011. This law essentially shifts a greater portion of the cost of funding future benefi ts to the<br />
employee. Employees hired before the effective date of PA 96-1495 currently pay approximately 50% of the normal cost<br />
of their own benefi ts, while newly hired employees are now required to pay over 60% of the costs necessary to provide for<br />
the new tier II retirement benefi ts.<br />
PA 96-1495 does achieve some reduction in the amounts of the future actuarial liabilities refl ected on the books<br />
of each affected fund. However, this reduction in future liabilities does not signifi cantly improve the overall condition<br />
of the fund because the overwhelming majority of the liabilities are attributable to current retirees, benefi ciaries and<br />
active employees hired before January 1, 2011. For Chicago Police and Fire Funds, PA 96-1495 addresses the historical<br />
underfunding with very strong funding language. This new law requires that the city of Chicago contribute, beginning in<br />
2016, amounts necessary on an actuarial basis, to ensure that these two funds achieve 90% funding by 2040. The law<br />
contains strong enforcement language too. The funds will be required to notify the state Comptroller’s offi ce of any failure<br />
by the city of Chicago to remit the suffi cient payments to the funds. The state Comptroller has the authority to divert funds
FROM THE SECRETARY (cont.)<br />
from state grants that would otherwise go to the city to the Firemen’s Annuity and Benefi t Fund or the Policemen’s Annuity<br />
and Benefi t Fund to remedy any divergence from the 90% funding requirement.<br />
As welcome as the news is that the city is now required to fund their longstanding debt to OUR participants’<br />
retirement system, it remains a tragedy that the city’s current taxpayers will bear the impact of tax increases and revenue<br />
shifting far greater today than what it would have been if legislators seriously considered their obligations to the city<br />
employee’s retirement systems.<br />
The administration and our legislators do not like to be reminded that fi refi ghters, paramedics and police offi cers<br />
are not covered by Social Security and that the city does not make the employer’s contribution to Social Security on their<br />
behalf. Nor do they remember that the city does not pay for Illinois State Workers Compensation for our members other<br />
than for burns to exposed skin. For thirty plus years, the city benefi ted from an antiquated funding mechanism not based<br />
on the actuarially expected future costs of retirement and widow benefi ts. Additional revenue was not provided by the city<br />
for costs associated with duty disability, occupational disability, and duty death widow benefi ts. This shortfall of required<br />
funding occurred with the full knowledge of the city. The fi re fund has advised the city each year that the amount of<br />
funding provided is grossly inadequate to pay for the current and future benefi ts constitutionally required to be paid by our<br />
fund to participants.<br />
Recently we all heard about the proposal the city put forward to the Chicago police sergeants that included a three<br />
percent increase in employee contributions along with a drastic reduction to the amount of funding required under PA 96-<br />
1495. The funding reduction contained in this proposal would be devastating to our fund. The Firemen’s Fund currently<br />
has an annual $130 million dollar net cash outfl ow. This means we are paying $130 million more in annual benefi ts than<br />
the total of both employer and employee contributions. That defi cit has been growing by at least $20 million each year. The<br />
proposal offered to the police sergeants reduced the actuarial funding starting in 2016 to a meager 10% annual ramp to the<br />
city’s current funding amounts for the next seven years. The actuarial funding model would kick in after that seven year<br />
period. Unfortunately, given the existing level of benefi t payouts, our fund could easily be as low as 10% funded before the<br />
city would be required to begin paying down the unfunded obligation. The proposal refl ects the same shortsighted mindset<br />
that is to blame for the current underfunded status. It is frustrating to see these proposals being offered as viable solutions.<br />
The sergeants’ proposal also included a reduction to members’ automatic annual increases or cost of living<br />
adjustments (“COLAs”). The participants of the Police and Firemen’s funds already have one of the lowest COLAs in the<br />
state. Members of these funds born before 1955 are entitled to a 3% simple COLA while members born in or after 1955 are<br />
only eligible for 1.5% simple COLA. Most, if not all other plans in the state and the city have 3% compounded COLAs<br />
for all members. Much discussion concerning the ability of any proposal containing reductions to future benefi ts has been<br />
dedicated to the legislators’ concerns about the <strong>Pension</strong> Protection Clause of the Illinois state constitution. Legislators<br />
want to be certain that any proposal that might ultimately be passed and signed into law will not be undone by future court<br />
challenges. However, given the current proposals, it appears that court is where we are all destined to have these issues<br />
resolved.<br />
Recently, the Chicago Sun-Times, looking to blame employees for the city’s pension mess made numerous requests<br />
for participant information under the Illinois Freedom of Information Act. Fund staff spent many hours responding to<br />
several inquiries submitted by the Chicago Sun-Times concerning our members in receipt of disability benefi ts. Based on<br />
their reporting, it appears that they assumed that our disability recipients were abusing the system and were a contributing<br />
factor to our pension system’s woes. Their published stories focused on two participants receiving duty disability benefi ts.<br />
The fi rst disability recipient the Sun-Times focused on in their story was initially denied benefi ts by the Retirement<br />
Board. That denial was subsequently overturned by the Appellate Court despite compelling videotape surveillance obtained<br />
by the Board in its process of determining eligibility. The Sun-Times even posted this video surveillance on its website as<br />
part of their story. Any questions concerning the duty disability benefi t granted to this member should be referred to the<br />
appropriate court personnel.<br />
The second participant was granted duty disability benefi ts because of a shoulder injury and subsequent surgery.<br />
After several surgeries on the same shoulder and extensive rehabilitation, two Board appointed doctors concurred with<br />
2
FROM THE SECRETARY (cont.)<br />
the member’s treating physicians who clearly indicated that this individual could not return to full duty (remember, full<br />
duty requires very heavy lifting capability per OSHA guidelines). The Sun-Times investigation implicated this disabled<br />
participant as an abuser even though she, with full knowledge of this Board, subsequently obtained new employment in<br />
a less physically demanding career in a neo-natal unit of a hospital. I very much disagree with the Sun-Times. Other<br />
than a few accommodations requested by members under the Americans with Disabilities Act (ADA), the Chicago Fire<br />
Department does not currently have a program that requires members on disability to accept any “light duty” assignment.<br />
There is nothing currently in state statutes that restrict members on disability from obtaining outside employment. The<br />
Board actively reviews the job descriptions and duties of such members to insure that they are not performing tasks that<br />
would refute their testimony about their disabled status. In my opinion, the Sun-Times should have commended this<br />
person for overcoming her limitations and becoming a contributing, productive member of the community.<br />
The very nature of the work of the Fire and Police Departments is hazardous. In spite of these assumed hazards,<br />
the Board has been vigilant to prevent any abuse. The Chicago Fire Department and the Firemen’s Annuity and Benefi t<br />
Fund of Chicago maintains a very favorable disability experience with a lower proportion of members receiving disability<br />
benefi ts than any other large U.S. city fi re department. The Retirement Board revised its own internal disability policy and<br />
procedures manual over ten years ago. We initiated active individual case management where necessary. Working with<br />
Local 2, the fund also had legislation passed to allow us to better assess participants’ disabling conditions and track their<br />
progress while in receipt of disability benefi ts. These efforts have helped not only maintain the integrity of our disability<br />
process but has also been a factor in reducing the number of our participants in receipt of disability benefi ts from 504 to<br />
350 over the past fourteen years.<br />
Thankfully many in the media, as was seen with the media coverage of departed members Herbie Johnson and<br />
Walter Patmon, do know that being a Chicago fi refi ghter, paramedic or police offi cer is a dangerous job. There have been<br />
562 Chicago police offi cers and 566 Chicago fi refi ghters that have died in the line of duty. Both jobs have extraordinary<br />
risks and both departments have extraordinary members who answer the calls without question. In spite of being blamed<br />
for the city’s pension mess and being asked to allow a reduction to their future retirement benefi ts, I still believe that<br />
sworn personnel of both departments love their careers. Most fi refi ghters, paramedics and police offi cers are at peace with<br />
the risks and the pensions they were promised was a factor in accepting those risks.<br />
As a fund trustee for over ten years, I have been honored to serve our participants. I have seen progress on many<br />
issues affecting the administration and management of our pension fund. Trustees and staff have worked to reduce expenses<br />
while maximizing investment returns. These efforts have included the creation of the position of Chief Investment Offi cer,<br />
a thorough revision of our investment policies, reconstructing our investment portfolio, investing in new categories of<br />
investments and negotiating investment fee savings in the process. The results speak for themselves. Over the past ten<br />
years, which has witnessed two major recessions, our investment returns have averaged 9.02%, placing us in the top 11%<br />
of all large public pension funds tracked by Northern Trust and Wilshire and Associates. The fees we pay our investment<br />
managers (approximately a half of one percent on average) are among the lowest in the country and we have also reduced<br />
our active brokerage expenses by over 50% from where they were in 2002. As you also know, we moved our offi ce to<br />
save money and have reduced travel and educational expenses too. We have tried to leave no stone unturned in meeting<br />
our fi duciary duty to the participants of the Firemen’s Annuity and Benefi t Fund. Despite these and other administrative<br />
improvements, the current unfunded status will continue to attract detractors, many with self serving motives.<br />
In conclusion, and contrary to the perceptions painted by some members of the news media, civic leaders and<br />
politicians, this fund has been diligent and has accomplished many good things long before the media and our legislators<br />
began focusing their attention on the retirement system problems that they ignored for so long. When I started on the CFD<br />
nearly twenty fi ve years ago, and for many years before becoming a trustee, many former trustees including Joe Quinn,<br />
Jim Nolan, Norm Holland, George Korda, Bill Wilkinson, Fred Gawryk and Tom Luczak were sounding the alarm with<br />
respect to funding. Since becoming a trustee, the Fund has continued to communicate the need for more funding every<br />
year to the city as well as inform all interested parties through publishing our annual reports on line and via mail to our<br />
participants. This problem is not new but rather is truly getting old. Chicago fi refi ghters and paramedics have nothing to<br />
be ashamed of when it comes to expecting the retirement benefi ts they have contributed toward and deserve nothing less<br />
than an adequately funded, secure retirement system.<br />
3
DECEASED PARTICIPANTS FROM AUGUST 1, 2012 THROUGH MARCH 31, 2013<br />
NAME DATE OF DEATH<br />
*MARIE A. NOVAK 02/04/2012 WIDOW OF EDWARD NOVAK<br />
*MARGARET E. KUCERA 06/21/2012 WIDOW OF WILLIAM J. KUCERA<br />
*ELIZABETH A. KING 07/23/2012 WIDOW OF JOHN P. KING<br />
*LORRAINE NEARY 07/23/2012 WIDOW OF PATRICK J. NEARY<br />
*ROBERT A. KAHN 07/24/2012 FIREFIGHTER<br />
*MARY LONGINO 07/26/2012 WIDOW OF NICKOLAS R. LONGINO<br />
*MARILYN R. KOCH 07/29/2012 WIDOW OF JOHN A. KOCH<br />
*WILLIAM P. FLYNN 07/31/2012 FIREFIGHTER<br />
ROY E. PHILLIPS 08/02/2012 FIREFIGHTER<br />
DANIEL E. REARDON 08/11/2012 FIREFIGHTER<br />
MARILYN PETERSON 08/12/2012 WIDOW OF IVAR B. PETERSON<br />
RICHARD CARROLL 08/13/2012 LIEUTENANT<br />
MARY M. KUSHNER 08/18/2012 WIDOW OF JAKE J. KUSHNER<br />
ROMAN W. MYSLINSKI 08/19/2012 FIREFIGHTER<br />
JOHN VONBERGEN 08/19/2012 BATTALION CHIEF<br />
JASON V. MAYOSKI 08/24/2012 FIRE ENGINEER<br />
ALEXANDER ZMUDA 08/24/2012 FIREFIGHTER<br />
FIDEL G. SERRANO JR. 08/26/2012 FIREFIGHTER/PARAMEDIC<br />
VIRGINIA M. CUMMINGS 08/27/2012 WIDOW OF LAURENCE M. CUMMINGS<br />
JAMES E. GARRITY 08/27/2012 FIREFIGHTER<br />
BONITA L. DOYLE 08/29/2012 WIDOW OF JAMES M. DOYLE<br />
GERALD R. FABER 08/29/2012 LIEUTENANT<br />
KATHLEEN A. NELLIGAN 08/29/2012 WIDOW OF DAVID A. NELLIGAN<br />
CARL W. HARRIS 08/30/2012 DEPUTY DISTRICT CHIEF<br />
RAYMOND E. EVERETT 08/31/2012 FIRE ENGINEER<br />
JOHN K. DUDA 09/02/2012 FIREFIGHTER<br />
WILLIAM LIETZ 09/04/2012 LIEUTENANT<br />
JAMES NOLAN 09/04/2012 FIREFIGHTER<br />
MARY T. RUSSELL 09/07/2012 WIDOW OF JOHN TOTH<br />
APOLONIA MACYAUSKI 09/11/2012 WIDOW OF WILLIAM R. MACYAUSKI<br />
JOHN P. DONOVAN 09/14/2012 BATTALION CHIEF<br />
WILLIAM P. McINTYRE 09/15/2012 FIREFIGHTER<br />
MARION G. KOLOMAY 09/17/2012 FIRE ENGINEER<br />
JOSEPH TOKARZ 09/17/2012 FIRE ENGINEER<br />
ALBERT W. LAMB 09/18/2012 FIREFIGHTER<br />
WILLIAM M. McNAMARA 09/18/2012 LIEUTENANT<br />
JACOB D. WILLENS 09/23/2012 PARAMEDIC<br />
ROBERT A. OLSON 09/27/2012 CAPTAIN<br />
THERESE M. ZOLLNER 09/30/2012 WIDOW OF HAROLD W. ZOLLNER<br />
LYLE J. SCHUM 10/02/2012 FIRE ENGINEER<br />
THOMAS D. FLAHIVE 10/04/2012 LIEUTENANT<br />
JAMES A. WAITKUS 10/06/2012 FIREFIGHTER<br />
LARRY WEBB 10/06/2012 PARAMEDIC FIELD CHIEF<br />
DONALD J. FOX 10/09/2012 PARAMEDIC IN CHARGE<br />
JOHN F. MANNING JR. 10/09/2012 FIREFIGHTER<br />
4
DECEASED PARTICIPANTS FROM AUGUST 1, 2012 THROUGH MARCH 31, 2013 (cont.)<br />
NAME DATE OF DEATH<br />
GLORIA SARTORI 10/13/2012 WIDOW OF NARCISO SARTORI<br />
BERNARD CHESNER 10/16/2012 CAPTAIN<br />
HELEN C. SMITH 10/20/2012 WIDOW OF EDWARD J. SMITH<br />
RUBY PFEIFFER 10/25/2012 WIDOW OF EDMUND G. PFEIFFER<br />
VIRGINIA GRINNAN 10/29/2012 WIDOW OF JOHN F. BERGER<br />
FRANK A. ZARCONE 10/29/2012 FIRE ENGINEER<br />
DANIEL P. ERONCIG 10/31/2012 PARAMEDIC<br />
HERBERT JOHNSON 11/02/2012 EMT CAPTAIN<br />
LORRAINE S. BARTGEN 11/03/2012 WIDOW OF JOHN E. BARTGEN<br />
ELLA A. BENDA 11/03/2012 WIDOW OF ERVIN BENDA<br />
DENNIS C. BUCKEL 11/06/2012 FIRE ENGINEER<br />
IRENE HENDRON 11/06/2012 WIDOW OF LAWRENCE T. HENDRON<br />
WILLIE LEGGS 11/07/2012 FIREFIGHTER<br />
MICHAEL F. BOYD 11/10/2012 FIREFIGHTER<br />
WALTER PATMON 11/11/2012 FIREFIGHTER<br />
JAMES FINNEY 11/13/2012 LIEUTENANT<br />
GEORGE G. MEEK 11/15/2012 BATTALION CHIEF<br />
TIMOTHY M. MIELING 11/15/2012 FIRE ENGINEER<br />
ALBERT H. DOUGHERTY 11/17/2012 LIEUTENANT<br />
EDWARD H. GIANNONI 11/17/2012 FIRE ENGINEER<br />
JAMES F. REILLY 11/17/2012 FIREFIGHTER<br />
EDWARD D. SMITH 11/17/2012 FIRE ENGINEER<br />
JOAN L. TORRENCE 11/18/2012 WIDOW OF ROBERT A. TORRENCE<br />
ANTHONY J. STANIS 11/19/2012 FIREFIGHTER<br />
LEONARD J. KOSOWSKI 11/20/2012 BATTALION CHIEF<br />
WILLIAM A. ROHLEDER 11/21/2012 LIEUTENANT<br />
JAMES A. BELLUOMINI 11/23/2012 FIREFIGHTER<br />
JOHN J. GALLAPO JR. 11/24/2012 CAPTAIN<br />
NORA M. MAHER 11/25/2012 WIDOW OF JAMES D. MAHER<br />
ELEANOR HERKEL 11/26/2012 WIDOW OF ROBERT M. HERKEL<br />
BARBARA S. LAWSON 11/29/2012 PARAMEDIC<br />
OLIVE Y. PLENNERT 11/29/2012 WIDOW OF GEORGE S. PLENNERT<br />
CATHERINE A. HOWSON 12/01/2012 WIDOW OF JOHN J. HOWSON<br />
ANNA PIAROWSKI 12/01/2012 WIDOW OF VALENTINE PIAROWSKI<br />
MARTIN C. WINTERS 12/01/2012 LIEUTENANT<br />
THOMAS E. O'REILLY 12/04/2012 FIRE ENGINEER<br />
ELIZABETH A. MORK 12/14/2012 WIDOW OF JAMES V. MORK<br />
JAMES L. CARR 12/19/2012 FIREFIGHTER<br />
MARY JANE FREYER 12/19/2012 WIDOW OF RICHARD A. FREYER<br />
DANIEL J. COOGAN 12/20/2012 FIRE ENGINEER<br />
STELLA WILSON 12/21/2012 WIDOW OF JOHN H. WILSON<br />
HARRY G. HUGHES 12/22/2012 CAPTAIN<br />
RAY A. REITZ 12/22/2012 FIREFIGHTER<br />
CHARLES FRITZ 12/29/2012 FIREFIGHTER<br />
VIOLET POWLEY 01/02/2013 WIDOW OF WILLIAM J. POWLEY<br />
5
DECEASED PARTICIPANTS FROM AUGUST 1, 2012 THROUGH MARCH 31, 2013 (cont.)<br />
NAME DATE OF DEATH<br />
FRANCIS P. HIGGINS SR. 01/03/2013 FIREFIGHTER<br />
ROSE MARIE LaROCCA 01/03/2013 WIDOW OF LUCAS J. LaROCCA<br />
NANCY ANN MARTIN 01/04/2013 WIDOW OF JOHN J. MARTIN<br />
JEAN G. KOWALSKI 01/08/2013 WIDOW OF LEONARD F. KOWALSKI<br />
DOLORES KILLHAM 01/09/2013 WIDOW OF GEORGE C. KILLHAM<br />
RICHARD A. SCHREINER 01/09/2013 FIREFIGHTER<br />
THOMAS F. ROUNTREE 01/12/2013 FIREFIGHTER<br />
NICHOLAS LUCHYN 01/13/2013 FIREFIGHTER<br />
JOHN A. DOHERTY 01/14/2013 FIREFIGHTER<br />
RENEE V. SMITH 01/14/2013 WIDOW OF CHESTER E. SMITH<br />
CHRISTOPHER ULRICH 01/14/2013 EMT FIREFIGHTER<br />
RICHARD E. GALAS 01/18/2013 PARAMEDIC<br />
GERTRUDE B. RYAN 01/18/2013 WIDOW OF EDMUND S. RYAN<br />
FREDERICK J. CELESTINE 01/21/2013 FIREFIGHTER<br />
THOMAS E. MINTLE 01/21/2013 FIRE ENGINEER<br />
ROSE L. KOWALSKI 01/22/2013 WIDOW OF HARRY J. KOWALSKI<br />
FRANCIS J. FINERON 01/24/2013 LIEUTENANT<br />
LAVERNE MANNS 01/24/2013 WIDOW OF JAMES W. MANNS<br />
MARGARET L. NORDOFF 01/27/2013 WIDOW OF EDWARD W. NORDOFF<br />
DOROTHY M. TIETZ 01/29/2013 WIDOW OF EUGENE F. TIETZ<br />
VICTOR DUCHENE 01/30/2013 FIREFIGHTER<br />
WILLIAM T. KING 02/02/2013 EMT LIEUTENANT<br />
RICHARD H. WILLIAMS 02/06/2013 LIEUTENANT<br />
PATRICIA A. DONAHUE 02/08/2013 WIDOW OF ROBERT J. DONAHUE<br />
NAOMI J. BURKE 02/09/2013 WIDOW OF PATRICK A. BURKE<br />
SHIRLEY M. JOST 02/09/2013 WIDOW OF THOMAS M. JOST<br />
JOHN P. MENCL 02/11/2013 FIREFIGHTER<br />
HERBERT WILLIAMS 02/14/2013 LIEUTENANT<br />
VIRGINIA R. DEDMOND 02/16/2013 WIDOW OF WALTER J. DEDMOND<br />
JOHN M. DWYER 02/17/2013 FIREFIGHTER<br />
MARY BROWN 02/18/2013 WIDOW OF COLLINS E. BROWN<br />
THOMAS S. MELZL 02/18/2013 FIREFIGHTER<br />
HARRY S. BENSON 02/19/2013 LIEUTENANT<br />
H. JEROME CURRAN 02/19/2013 FIREFIGHTER<br />
DONALD C. ZLOTKOWSKI 02/21/2013 FIREFIGHTER<br />
CAROLYN F. HEALY 02/23/2013 WIDOW OF JOSEPH F. HEALY<br />
OLIVER F. SCHLEGEL 02/28/2013 CAPTAIN<br />
SHARON DROBITSCH 03/01/2013 WIDOW OF ROBERT A. DROBITSCH<br />
HARRIETTE PILLON 03/02/2013 WIDOW OF ROBERT L. PILLON<br />
JAMES R. MUNSEN 03/07/2013 FIRE ENGINEER<br />
ANNAMAY OLIVER 03/07/2013 WIDOW OF JAY W. OLIVER<br />
CHARLES F. FINLON 03/09/2013 FIREFIGHTER<br />
LEONARD L. WILSON 03/09/2013 FIREFIGHTER<br />
BRUNO GANZ 03/10/2013 BATTALION CHIEF<br />
ROGER E. McCULLOUGH 03/11/2013 FIREFIGHTER<br />
6
DECEASED PARTICIPANTS FROM AUGUST 1, 2012 THROUGH MARCH 31, 2013 (cont.)<br />
NAME DATE OF DEATH<br />
CHARLES W. FISHER 03/12/2013 BATTALION CHIEF<br />
ISABELLE VARGA 03/13/2013 WIDOW OF JOSEPH A. VARGA<br />
JOY N. DAVIS 03/14/2013 PARAMEDIC<br />
ARMELDA HARRILL 03/14/2013 WIDOW OF WILLIAM A. HARRILL<br />
LOIS COOPER 03/15/2013 WIDOW OF ALBERT COOPER<br />
ELMER W. BAUER JR. 03/17/2013 FIREFIGHTER<br />
RUDY STEIGERWALD 03/22/2013 FIREFIGHTER<br />
JUANITA G. GAGNON 03/23/2013 WIDOW OF ARTHUR R. GAGNON<br />
LILLIAN KELSO 03/25/2013 WIDOW OF VERNON T. KELSO<br />
DONALD J. WALPOLE 03/28/2013 BATTALION CHIEF<br />
LEROY R. FLEMING 03/29/2013 FIREFIGHTER<br />
EDWARD G. ZAUKAS 03/30/2013<br />
JAMES M. DONOVAN 03/31/2013 FIREFIGHTER<br />
AARON L. FINLEY 03/31/2013 FIREFIGHTER<br />
MARIANNE McHALE 03/31/2013 WIDOW OF MEL G. McHALE<br />
* Denotes information received after publication of the last newsletter<br />
Denotes died active<br />
Our Deepest Sympathy To the Families and Friends Who Have Lost Loved Ones<br />
DAN FABRIZIO<br />
Dear Brothers & Sisters,<br />
There was a report in the February 22 nd edition of the Chicago Sun-Times regarding two issues discussed at the February<br />
20, 2013 meeting of the Firemen’s Annuity and Benefi t Fund of Chicago: disabilities and divestment.<br />
The Firemen’s Annuity and Benefi t Fund is the entity responsible for the payment of disability and pension benefi ts<br />
to Chicago fi refi ghters, paramedics and their families. Contributions by both the fi re service employees and the city of<br />
Chicago, as prescribed by state statute, are collected in order to fund the plan. The city does not, however, pay Workmen’s<br />
Compensation for its fi refi ghters and paramedics, except for burns of exposed skin. The city does not pay Social Security for<br />
its fi refi ghters. The city did not remit any Medicare payments for its fi refi ghters prior to 1986. Because of this, fi refi ghters<br />
and paramedics are not eligible for Workmen’s Comp, Social Security or Medicare (pre-1986). The Firemen’s pension<br />
fund is our member’s sole source of disability and retirement security.<br />
It was reported that fi refi ghters and paramedics collected $27 million in taxpayer funded duty disability benefi ts in 2011.<br />
The actual amount of duty disability benefi ts paid by the Fund was $15.3 million, representing approximately 6.7% of<br />
total Fund expenditures during 2011. Also omitted from the report was that since 1999, the number of members in receipt<br />
of disability benefi ts has declined 31% because of revised procedures established years ago by the Fund’s Trustees. Lastly,<br />
an inconvenient truth about disability payments is that the city has not contributed any amount, as required by state statute,<br />
to reimburse the Fund for its disability payments . Such a failure to pay what is owed to the Fund for disabilities is one of<br />
the causes for the severe underfunding suffered by this plan for so many years.<br />
Yes, the Firemen’s plan is seriously underfunded. As of 2011, the Fund’s actuarial report indicates that the pension fund<br />
had only 28 cents in assets for every dollar needed for future benefi t. But why is that? Most pension funds in the country<br />
7
DAN FABRIZIO<br />
receive payments for the full amount of the actuarial required contributions. Unfortunately, since the Fund’s beginning in<br />
1931, according to Mayor Daley’s Commission to Strengthen Chicago <strong>Pension</strong> Funds, the city of Chicago has failed to pay<br />
the actuarial required contribution. It was found that inadequate contributions by the employer accounted for the entire<br />
defi cit. The shame of it is, the taxpayers are being charged 8% interest on the unfunded defi cit, causing the defi cit to grow<br />
and grow. It is this unfunded defi cit that is the primary cause for the pension crisis.<br />
According to the National Institute on Retirement Security (“NIRS”), pension plans are effi cient in their use of capital.<br />
Historically, earnings on investments have made up the bulk of public pension receipts. Nationally, over the past fi fteen<br />
years, about 68% of pension revenues came from investment earnings, 21% from the employer payments and 11% came<br />
from employee contributions. Another way to explain this is the employer contributes approximately 21 cents for every<br />
dollar of total pension fund receipts. NIRS also found that prefunded plans have the advantage that investment earnings<br />
pay for the bulk of all earned benefi ts paid. This means that taxpayers get a better bang for its tax dollar contribution to<br />
a public pension plan if that fund is well funded. Unfortunately, the Firemen’s Plan was never adequately funded on an<br />
actuarial basis, which will cost taxpayers millions.<br />
What if the Firemen’s pension plan had been properly funded? The Firemen’s pension plan’s long-term investment<br />
performance has consistently ranked as one of the nation’s top tier plans, earning an average compounded return of 9.2%<br />
over the last twenty seven years. These investment earnings are what have kept this pension plan still going all these years.<br />
Think of the savings that could have been earned by the Fund had we been provided with better funding. There would be<br />
no pension crisis.<br />
During our February meeting, a proposal to require the Fund to divest (sell) portfolio holdings was made. Given the Fund’s<br />
successful long term track record as a strong, profi table investor, the idea of selling holdings for a reason other than an<br />
investment reason did not seem to be a prudent policy for the Board to adopt, nor did it seem to be in the best fi nancial<br />
interest of the Fund or the City’s taxpayers to establish such a precedent.<br />
Recently, the state of Illinois has been engaged in ongoing discussions to correct its pension underfunding problem.<br />
Unfortunately, it appears that the city does not want to engage in similar, meaningful discussions. It seems as though the<br />
city would rather have fi refi ghters reduce their benefi ts and pay more. You could never increase your contributions and<br />
reduce benefi ts enough to cover the city obligations to pay off the debt racked up on the “pension credit card.”<br />
The Chicago fi refi ghters are always open to fair negotiations and discussing pension funding solutions. We are not opposed<br />
to shared pain; we have no problem with contributing our fair share, in a constitutional manner, to correct the problem<br />
of underfunding that Mayor Emanuel has inherited. But let us also explore new pension revenue sources such as casino<br />
revenues, a fi nancial transaction surcharge or accessing historically low interest rates from the capital markets before<br />
asking fi refi ghters to pay more or proposing unconstitutional cuts to earned benefi ts.<br />
We as fi refi ghters believe everyone, private and public, should have a right to a fair, secure retirement. We do not believe<br />
the individuals or messengers who are trying to blame the entire problem of underfunding on fi refi ghters as the right way<br />
to resolve this issue.<br />
Fraternally,<br />
Dan Fabrizio<br />
REQUIRED DISCLAIMER<br />
The information set forth herein is believed to be reliable but is not guaranteed as to accuracy or completeness by, and is not to be construed<br />
as a representation of the Firemen’s Annuity & Benefi t Fund of Chicago, the Retirement Board (the “Board”) or any member of the Board. The<br />
information and expressions of opinion contained herein are subject to change without notice. All expressions of opinion, whether or not expressly<br />
so stated, are intended merely as such and not as representations of fact. Financial information contained in this newsletter is as of a certain date,<br />
is unaudited and should not be relied on.<br />
8
THE FOLLOWING ANNUITIES AND BENEFITS HAVE BEEN GRANTED<br />
AUGUST 2012<br />
Minimum Formula Annuity<br />
LT ARTERLEE ANDERSON, ENGINE 28<br />
AC CURT W. AUGUSTINE, AMBULANCE 41/SLD<br />
FF MICHAEL J. FLYNN, AIR MASK<br />
FF MARTIN FORMAN, ENGINE 10<br />
PFC PATRICK M. KELLY, 4-5-6<br />
EMT BC MICHAEL C. MILLER, HQ RELIEF<br />
FF THOMAS P. MUSCOLINO, TRUCK 31<br />
EMT LT WILLIAM W. SPEE, ENGINE 54<br />
Duty Disability<br />
None<br />
Occupational Disability<br />
EMT LT ALBERT MICHELON, TRUCK 48<br />
LT PM TIMOTHY L. STOKES, HQ<br />
SEPTEMBER 2012<br />
Minimum Formula Annuity<br />
FFPM STEPHEN AMELIANOVICH, ENGINE 97<br />
FF GEORGE BUCKO, ENGINE 119<br />
LT JAVIER GONZALEZ, FPB<br />
PM JOHN S. LUNZ, AMBULANCE 12<br />
DDC WILLIAM E. MONROE, 6 th DISTRICT<br />
FF GERALD E. ROACH, ENGINE 89<br />
BC JESSE SANCHEZ, 6 th DISTRICT<br />
FF RAYMOND STANSKI, ENGINE 112<br />
PIC ROBERT A. WILLIAMS, AMBULANCE 19<br />
EMT LT JEFFREY E. XENAKIS, ENGINE 9<br />
Duty Disability<br />
FF JOHN G. FERNANDEZ, AIR MASK<br />
EMT CAPT KEVIN M. HICKS, ENGINE 129<br />
AC CYNTHIA M. RODRIGUEZ, AMBULANCE 57<br />
PFC JODI WARRICK, 4-4-1-1<br />
Occupational Disability<br />
None<br />
OCTOBER 2012<br />
Minimum Formula Annuity<br />
LT WILLARD J. BURTON, TRUCK 59<br />
LT PATRICK J. CONNORS, ENGINE 117<br />
EMT LT EUGENE GREEN, TRUCK 60<br />
EMT FF ALAN G. HOOD, ENGINE 2<br />
EMT LT KURT JANUS, TRUCK 11<br />
EMT LT WILLIAM S. KENDRICK, ENGINE 120<br />
PM CHRISTINE V. MARCUS, AMBULANCE 17<br />
DDC DANIEL PAYNE, 2-2-6<br />
LT WARREN ROBINSON, ENGINE 121<br />
Duty Disability<br />
LT ROBERT C. GALLAPO, ENGINE 63<br />
ENG DAVID PRAZUCH, ENGINE 64<br />
9<br />
OCTOBER 2012 (cont.)<br />
Occupational Disability<br />
PIC DONALD J. FOX, AMBULANCE 42<br />
NOVEMBER 2012<br />
LT THOMAS S. BANKS, SQUAD 2<br />
AC GEORGE BUCHANAN, AMBULANCE 7<br />
EMT CAPT RANDY CLAY, ENGINE 69<br />
FF WILLIAM J. COLLINS, TRUCK 35<br />
FF THOMAS W. DOLOUGHTY, ENGINE 56<br />
PFC MICHAEL S. DURAND, 4-5-2<br />
BC JOHN W. EDWARDS, 10 th BATTALION<br />
FF FREEMAN M. GILBERT, ENGINE 50<br />
FF CHRISTOPHER GOMEZ, TRUCK 33<br />
PFC WILLIAM J. HARTE, 4-5-4<br />
AC OWEN E. KELLY, AMBULANCE 54<br />
PIC ROBERT KING, AMBULANCE 5<br />
EMT BC GEORGE M. KORDA, BATTALION 12<br />
PIC THOMAS J. KRAJECKI, AMBULANCE 14<br />
PIC JOSEPH C. LaMONICA, AMBULANCE 28<br />
EMT FF KENNETH LEE, ENGINE 73<br />
FF GEORGE LINK, ENGINE 99<br />
EMT BC THOMAS J. MAGLIANO, BATTALION 22<br />
FF ORAH MAHON, ENGINE 98<br />
EMT LT TERRENCE W. McSHANE, TRUCK 17<br />
PIC PAUL J. MOTISI, AMBULANCE 33<br />
PFC THOMAS D. MURPHY, 4-5-1<br />
EMT LT JAMES R. O'DONNELL, ENGINE 34<br />
FF MICHAEL PHILLIPS, TRUCK 40<br />
EMT LT DANNY H. ROBERTS, FPB SOUTH<br />
AC JOYCE ROBINSON, AMBULANCE 1<br />
EMT LT TIMOTHY H. SCHNEIDER, FPB NORTH<br />
PIC MARY E. SCHWARZ, 2 nd DISTRICT RELIEF<br />
PIC BRIAN E. SOBECK, AMBULANCE 20<br />
FF NICHOLAS SORRENTINO, ENGINE 57<br />
PIC PENNY SULLIVAN, AREA 3<br />
CAPT PM RONI L. THIELSEN, FPB NORTH<br />
FF JOSE C. WILBANKS, ENGINE 89<br />
Duty Disability<br />
None<br />
Occupational Disability<br />
FF PM ARTURO ALVARADO, TRUCK 9<br />
DECEMBER 2012<br />
Minimum Formula Annuity<br />
FF JOSEPH L. AGUILAR, ENGINE 54<br />
ENG JAMES M. AGUINAGA, ENGINE 28<br />
LT LARRY W. ANOMAN, TOWER LADDER 34<br />
EMT BC MICHAEL J. BARRETT, 9 th BATTALION<br />
EMT BC STEVEN C. BATES, BATTALION 7<br />
EMT LT BRIAN J. BAUER, ENGINE 88<br />
FF PAUL J. BEZAZIAN, ENGINE 94<br />
AC RICHARD W. BIEHL, AMBULANCE 4
THE FOLLOWING ANNUITIES AND BENEFITS HAVE BEEN GRANTED (cont.)<br />
DECEMBER 2012 (cont.)<br />
Minimum Formula Annuity<br />
EMT BC PETER E. BIONDO, BATTALION 15<br />
EMT BC LEWIS G. BLEICHER, BATTALION 15<br />
FF ALBERT C. BLISSITT, FPB-WEST<br />
FF RICHARD A. BOIKE, AIR MASK<br />
LT JOSEPH A. BRENNAN JR., TRUCK 2<br />
ENG BERNARD J. CAREY, ENGINE 63<br />
FF ALBERT J. CASANOVA, TOWER LADDER 5<br />
FF MICHAEL CENTRACCHIO, 5-1-1<br />
BC EDWARD A. CERDAN, BATTALION 23<br />
EMT ENG BENJAMIN L. CHIRA, ENGINE 2<br />
FF PM ANDRIJ W. CHYCHULA, ENGINE 11<br />
FF JOHN D. CRANE, ENGINE 80<br />
EMT LT ROBERT C. DALY, AIR MASK<br />
EMT CAPT LaGRANT K. DAVIS, FPB-CENTRAL<br />
LT PM TIMOTHY F. DELANA, ENGINE 11<br />
LT STEPHEN DIETZ, ENGINE 69<br />
EMT BC MICHAEL H. DILL, MANPOWER<br />
EMT ENG PATRICK F. DILLON, ENGINE 2<br />
BC PM RICHARD A. DORY, BATTALION 14<br />
FF MICHAEL L. DOUGLAS, ENGINE 10<br />
EMT LT WILLIAM J. DOWNEY, TRUCK 38<br />
EMT BC KEVIN P. DOYLE, BATTALION 23<br />
EMT BC TEDMUND E. DUBER, 3 rd BATTALION<br />
FF JOSEPH R. DUELLO, TRUCK 62<br />
LT GREGORY G. EDINGBURG, AIR MASK<br />
FF MICHAEL J. EGAN, TRUCK 9<br />
EMT CAPT NICHOLAS FABRIZIO, ENGINE 95<br />
EMT CAPT DANIEL P. FERGUSON, ENGINE 62<br />
FF MARTIN FERGUSON, ENGINE 64<br />
LT PM CLINTON B. FIELDS, ENGINE 80<br />
EMT ENG ROBERT E. FITZGERALD, ENGINE 28<br />
EMT BC PATRICK J. FLAHERTY, BATTALION 22<br />
EMT CAPT JOHN FLEISCHHACKER, HOOK & LADDER 12<br />
EMT CAPT RICHARD J. FOX, ENGINE 88<br />
EMT ENG JAMES M. FRANZEN, ENGINE 13<br />
EMT CAPT DONALD J. FREZA, TRUCK 11<br />
EMT ENG MICHAEL E. GALLAPO, ENGINE 45<br />
LT PM KEITH W. GANSEL, TOWER LADDER 14<br />
EMT CAPT DOMINIC G. GIBSON, TOWER LADDER 21<br />
EMT FF MATTHEW F. GILLEN, TRUCK 17<br />
ENG MICHAEL GONZALEZ, ENGINE 60<br />
FF ROBERT J. GONZALEZ, TRUCK 3<br />
CAPT JOSEPH GRAHAM, TRUCK 40<br />
FF ASKEL J. GRANT, ENGINE 110<br />
FF MAURICE M. GRAYER, ENGINE 1<br />
ENG THOMAS M. GRISIUS, ENGINE 83<br />
LT DANIEL GROSH, TRUCK 29<br />
ENG RICHARD F. GUBALA, ENGINE 18<br />
ENG ELAINE HAMLET, MANPOWER<br />
FF JAMES W. HENRY, ENGINE 64<br />
FF MARK S. HOMA, ENGINE 106<br />
EMT CAPT ROBERT E. HOULIHAN, TRUCK 30<br />
PM JOHN T. HUBLEY, AMBULANCE 26<br />
LT WILLIAM T. HUMPHREY, ENGINE 28<br />
FF JOHN J. HURLEY, TRUCK 30<br />
10<br />
DECEMBER 2012 (cont.)<br />
Minimum Formula Annuity<br />
CAPT STEVEN IVES, ENGINE 28<br />
EMT FF RICHARD L. JACKSON, TRUCK 25<br />
EMT LT RAMON DeJESUS, ENGINE 71<br />
FF LEON V. JOHNSON, TRUCK 61<br />
EMT CAPT JOHN F. KELLY, ENGINE 30<br />
CAPT PATRICK J. KELLY, ENGINE 71<br />
LT PM JOHN G. KENNEDY, TRUCK 31<br />
FF PM GUNTHER KETTENBEIL, ENGINE 79<br />
EMT BC ANTHONY L. KING, BATTALION 21<br />
LT PM STEVEN R. KNOTT, TRUCK 45<br />
EMT BC RICHARD A. KOFFSKI, BATTALION 12<br />
PFC RAYMOND G. KOLASA, 4-5-4<br />
LT PM CHRISTOPHER KOSTER, 2-9-8<br />
EMT LT KENNETH P. KOZLOWSKI, ENGINE 116<br />
FF PM MARK KRICHIVER, ENGINE 108<br />
FF JOSEPH W. KWIECINSKI, ENGINE 94<br />
EMT BC THOMAS P. LALLY, 10 th BATTALION<br />
LT SHARRIEFF L. LANIER, ENGINE 75<br />
FF EDWARD A. LASHLEY, ENGINE 106<br />
FF FRANCIS LEAHY, ENGINE 70<br />
EMT LT JOHN F. LEHNER, ENGINE 129<br />
EMT BC JOHN F. LEONARD, 6 th BATTALION<br />
EMT ENG TODD LEWANDOWSKI, RESCUE 6-5-5<br />
EMT FF ALPHONSO E. LINCOLN, ENGINE 13<br />
ENG ANTHONY E. LONA, ENGINE 7<br />
BC THOMAS LYNCH, BATTALION 7<br />
EMT ENG SCOTT MALITO, MIDWAY<br />
FF THOMAS J. MALLOY, TRUCK 2<br />
FF MICHAEL T. MALONEY, SUPPORTS SERVICES<br />
LT TERRENCE E. MANGAN, ENGINE 86<br />
LT DENNIS MARCINEK, ENGINE 69<br />
EMT LT RICHARD MARTINEZ, FPB-WEST<br />
FF J.D. MASSEY, TOWER LADDER 10<br />
LT DAVID MATY, TRUCK 7<br />
LT JOHN F. McCALLUM JR., TOWER LADDER 10<br />
LT JAMES McCAMBRIDGE, TRUCK 36<br />
EMT BC JAMES N. McCANN, BATTALION 19<br />
EMT CAPT JOHN P. McCANN, TRUCK 33<br />
EMT LT JOHN M. McCLAIN, ENGINE 14<br />
ENG CHARLES McCULLOUGH, ENGINE 121<br />
EMT BC ROBERT L. McKEE, OPERATIONS RELIEF<br />
FF DAVID MELENDEZ, ENGINE 35<br />
EMT FF JULIO A. MENDOZA, ENGINE 32<br />
EMT LT ROBERT G. MICHAELS, TRUCK 33<br />
FF ANTHONY J. MICHI, TRUCK 36<br />
EMT LT ARTHUR R. MILLER, TRUCK 7<br />
PFC CHRISTINE MULLALLY, HQ RELIEF<br />
ENG JOSEPH MURPHY, ENGINE 64<br />
EMT CAPT PATRICK C. MURPHY, TRUCK 51<br />
ENG JAMES J. MUZZILLO, MIDWAY<br />
LT STEVE C. NEIDENBACH, ENGINE 125<br />
ENG MICHAEL A. NINCEVICH, ENGINE 32<br />
EMT LT CLARENCE E. NORWOOD, ENGINE 98<br />
FF GARY P. NOTH, ENGINE 64<br />
EMT BC DANIEL O'CONNELL, HQ
THE FOLLOWING ANNUITIES AND BENEFITS HAVE BEEN GRANTED (cont.)<br />
DECEMBER 2012 (cont.)<br />
Minimum Formula Annuity<br />
BC JOHN J. O'DONNELL, BATTALION 6<br />
EMT ENG JOHN OKON, ENGINE 62<br />
EMT LT MELVIN C. OLIVER, ENGINE 8<br />
EMT BC JOHN W. PARAMORE, 23 rd BATTALION<br />
FF MARC A. PATRICELLI, ENGINE 106<br />
FF JAMES PEDRAZA, TRUCK 28<br />
EMT ENG ERNIE W. PENTEK, ENGINE 101<br />
EMT LT MARTIN J. PEREZ, TRUCK 18<br />
LT ROBERT L. PILLON JR., ENGINE 47<br />
EMT CAPT WILLIAM J. PRENDERGAST, ENGINE 102<br />
EMT BC CARLOS M. RAMOS, OPERATIONS RELIEF<br />
EMT LT EDDIE M. REED, ENGINE 62<br />
LT GREGORY Z. ROBINSON, ENGINE 72<br />
PFC KEVIN J. ROCHE, OPERATIONS RELIEF<br />
FF ANTHONY A. RODRIGUEZ, ENGINE 109/TRUCK 32<br />
FF SIMEON E. ROGERS, FPB-CENTRAL<br />
BC EUGENE D. RYAN, HQ<br />
FF PETER P. RYAN, EQUIP & SUPPLY<br />
EMT LT ARTHUR SANDERS, ENGINE 103<br />
ENG RAYMOND P. SANTOS JR., ENGINE 43<br />
EMT LT THOMAS J. SCHERGEN, ENGINE 62<br />
CAPT SUSAN L. SCHMIDT, ENGINE 103<br />
ENG ROBERT J. SCHROEDER, ENGINE 47<br />
PFC ANTHONY SCIPIONE, 4-5-3<br />
EMT BC JEROME SHELTON, BATTALION 24<br />
EMT BC PATRICK D. SHEPPARD, OPERATION RELIEF<br />
FF MARK SIMMONS, ENGINE 121<br />
EMT LT ROBERT G. SMIEGOWSKI, ENGINE 106<br />
FF ROBERT E. SMITH, SQUAD 5<br />
EMT LT PAUL J. STAMPER, TRUCK 58<br />
EMT CAPT PATRICK E. STEFAN, TRUCK 44<br />
ENG DENNIS M. STENSLAND, ENGINE 125<br />
FF BRUCE R. STRIMEL, TRUCK 41<br />
EMT LT MICHAEL V. TERNES, ENGINE 96<br />
ENG PM JOHN P. TOOMEY, ENGINE 115<br />
FF OSCAR TORRES, ENGINE 65<br />
ENG ALVIN R. TURNER, ENGINE 72<br />
LT KENNETH M. VACLAVIK, ENGINE 74<br />
BC ANTHONY J. VANBUSKIRK, OPERATIONS RELIEF<br />
EMT CAPT CHARLES VAZQUEZ, ENGINE 8<br />
EMT LT ERNESTO S. VELEZ, 3 rd DISTRICT RELIEF<br />
CAPT JUAN VILLA, TRUCK 60<br />
EMT LT JAMES F. WARD, 5-1-1<br />
EMT BC PATRICK WIETLISPACH, TRUCK 13<br />
ENG BRADLEY F. WILSON, ENGINE 112<br />
ENG RAYMOND E. WOODS, ENGINE 5<br />
PFC STEVEN M. ZAMBELLO, 4-5-4<br />
FF EDWIN ZAYAS, ENGINE 86<br />
ENG RONALD J. ZIEMBA, ENGINE 65<br />
Duty Disability<br />
FF WARD L. PEMBERTON, ENGINE 119<br />
Occupational Disability<br />
FF MICHAEL F. BOYD, TRUCK 28<br />
PFC JOYCE D. HOFMANN, HQ RELIEF<br />
11<br />
DECEMBER 2012 (cont.)<br />
Occupational Disability<br />
PIC GLORIA V. MEDINA, AMBULANCE 12<br />
FF RONALD ROACH, TRUCK 27<br />
JANUARY 2013<br />
Minimum Formula Annuity<br />
EMT FF SIDNEY L. BLUSTAIN, ENGINE 55<br />
ENG JAMES F. BRUNO, ENGINE 44<br />
PFC KEVIN P. BYRNE, 4-5-5<br />
EMT LT MICHAEL J. CARASOTTI, TRUCK 26<br />
LT ROBERT F. DUBBERKE, TRUCK 35<br />
EMT LT JAMES E. DUNLOP, ENGINE 34<br />
AC JOHN L. DURKIN, AMBULANCE 12<br />
ENG DAVIS K. ENG, RESCUE 6-5-4/O'HARE<br />
EMT BC GARY T. FINNEKE, BATTALION 10<br />
PFC MICHAEL J. FLAHERTY, 4-5-3<br />
AC JON R. FRIEDMAN, MARK DIVISION<br />
PFC STEPHEN C. FUGAJ, 4-5-8<br />
LT WILLIAM F. GAVIN, 6-5-9<br />
EMT ENG THEODORE GURDAK, ENGINE 69<br />
EMT BC STEVE D. HANSON, BATTALION 21<br />
EMT BC RONALD D. HARVEY, BATTALION 24<br />
EMT LT LEROY HEARON, FPB-CENTRAL<br />
EMT CAPT ANTHONY J. KASPER, MIDWAY<br />
FF BRUCE KATO, TRUCK 7<br />
FF KEITH KOEPKE, TRUCK 58<br />
LT ROBERT J. LANG, TRUCK 13<br />
FF MICHAEL M. LOPEZ, SUPPORT SERVICES<br />
BC SAL MARQUEZ, BATTALION 16<br />
BC PM PAUL R. MARTIN, BATTALION 24<br />
EMT LT WILLIAM McHUGH, ENGINE 129<br />
PFC ELSBETH MILLER, 4-5-3<br />
CAPT RONALD E. O’KEEFE, ENGINE 110<br />
CAPT DAVID M. PRIETO, ENGINE 2<br />
LT DONALD G. RANOS, ENGINE 97<br />
EMT CAPT ANTHONY J. RICHARDS, TRUCK 38<br />
EMT ENG ROBERT A. RICHTER, ENGINE 14<br />
EMT CAPT JOSEPH A. RODER, TRUCK 28<br />
EMT BC JOSEPH SANTUCCI, BATTALION 10<br />
FF MERRIEL SHADLOW, ENGINE 104<br />
FF GEORGE SKRLAC, TOWER LADDER 54<br />
EMT ENG ROBERT SKWAREK, AIR/SEA RESCUE<br />
EMT FF BARBARA L. SMITH, ENGINE 94<br />
FF EDWARD T. STACKS, ENGINE 104<br />
EMT BC JOSEPH F. TROTTA, TRUCK 22<br />
EMT LT WAYNE VARNEY, TOWER LADDER 21<br />
EMT CAPT NOEL U. VASQUEZ, FPB-CENTRAL<br />
LT ANTHONY L. WILLIAMS SR., TRUCK 61<br />
EMT LT MARCELINO P. YBARRA, ENGINE 46<br />
FF DAVID J. ZOUBEK, ENGINE 68<br />
Duty Disability<br />
None<br />
Occupational Disability<br />
FFPM MICHAEL J. McNAMARA, ENGINE 34
THE FOLLOWING ANNUITIES AND BENEFITS HAVE BEEN GRANTED (cont.)<br />
JANUARY 2013 (cont.)<br />
Ordinary Disability<br />
ENG EDWIN VALE, ENGINE 76<br />
FEBRUARY 2013<br />
Minimum Formula Annuity<br />
EMT ENG HECTOR A. ARAMBURU, ENGINE 117<br />
PIC JAMES A. CARUSO, AMBULANCE 42<br />
ENG ROBERT C. GLOPPE, ENGINE 10<br />
ENG JAMES M. PRICE, ENGINE 59<br />
FF CHARLES SWAN, TRUCK 59<br />
Duty Disability<br />
FF STEVEN A. GORE, ENGINE 11<br />
Occupational Disability<br />
None<br />
12<br />
MARCH 2013<br />
Minimum Formula Annuity<br />
EMT CAPT JOSEPH A. GUARASCIO, AERIAL TOWER 1<br />
FF LAWRENCE FRANKLIN, ENGINE 64<br />
ENG MATTHEW J. MOWEN, ENGINE 11<br />
ENG ROBERT RAMOS, ENGINE 15<br />
Duty Disability<br />
FF MARTIN J. MROZEK, ENGINE 112<br />
FF SHAWN W. SPURLIN, ENGINE 97<br />
Occupational Disability<br />
FF BOYCE R. COLEMAN II, ENGINE 122<br />
FROM THE RETIRED TRUSTEE WALTER CARLSON<br />
Hello again to all my old friends. I can’t believe that last year at this time it was 80 degrees in Chicago and this year we’re<br />
closer to 20 degrees. That’s Chicago. I’ve been in the habit of saying, “One of the nicest days last summer was St. Patrick’s<br />
day”. We can only hope for as nice a spring this year.<br />
I can also hope that the Mayor will continue our annuitant health care program too. I want to stress that this is in regards to<br />
retirees and widows in the annuitant health care program and not those who retired after age 60 or under one of the recent<br />
“free health care” incentives. Those members are still covered in the city of Chicago active employees health care plan.<br />
As of April 26, 2013 there has been no offi cial word as to the status of the annuitant health care program beyond June 30,<br />
2013. That is the date that the “Korshak Agreement” which governs the annuitant health care program provided by the city<br />
of Chicago as we know it, offi cially expires. I know for a fact that unless legislation is enacted in Springfi eld, the pension<br />
fund subsidies (paid by each of the four pension funds on behalf of the members enrolled in the annuitant program) cannot<br />
be paid any more. These subsidies pay for about 13% of the total costs of the program.<br />
So what does this mean? Are 32,000 former city of Chicago employees and their families currently enrolled in the program<br />
going to be out of insurance? Is there going to be another program that we can get into? We are all waiting. But I guess<br />
we’re getting used to it.<br />
We all waited while the Mayor’s expert RHBC (Retiree Healthcare Benefi ts Commission) performed its analysis about the<br />
anticipated future costs of the annuitant health care program. Let me tell everyone interested, this panel did a good job.<br />
The report is on-line at the City of Chicago website:<br />
http://www.cityofchicago.org/content/dam/city/depts/fi n/supp_info/Benefi ts/RHBC/ReportToMayor/RHBC_Report_to_<br />
the_Mayor.pdf<br />
It explains the costs of the existing program and the level of cost sharing and savings among the parties when certain<br />
variables are changed. You probably need a math degree to understand it though.<br />
As good as this report was, it did not go far enough. Here’s why:<br />
1. The RHBC analysis ASSUMED the inclusion of the pension fund subsidies. I think they should have<br />
made some sort of argument about continuing them or not. The costs shared among the City and the<br />
annuitants will be increased without these subsidies.
FROM THE RETIRED TRUSTEE WALTER CARLSON<br />
2. I think the RHBC should have also recommended the continuation of a court supervised agreement.<br />
That way, all parties would be covered under some extension of the existing agreement and we would<br />
not have the nonsense, frustration, anxiety (or expense) of going back to court again and again. We<br />
absolutely do not need to re-invent the wheel in this matter.<br />
3. I also think the RHBC should have commented on the continuation of the current program of<br />
administration of the annuitant program. I personally have been very satisfi ed with the operation<br />
of the program. All items affecting all the parties; coverage, cost sharing, reconciliations etc. were<br />
all embodied within the agreement.<br />
However, the report was issued and we continue to wait. It’s been two months since the issuance of the RHBC report and<br />
no formal announcement or decision has been made. Probably the biggest unknown in this entire equation is to what level<br />
the Patient Protection and Affordability Act ("Obamacare") fi ts in and when retirees might be able to switch to plans that<br />
will be available under the Act.<br />
Supposedly, viable insurance exchanges, where retirees can fi nd competitively priced insurance, are to be operational in<br />
the state of Illinois in 2014. These exchanges are supposed to provide alternative options for insurance at lower prices,<br />
thereby relieving the former employer of the costs of maintaining the plan. I haven’t heard much of any progress on those<br />
exchanges.<br />
One of the RHBC panelists even wrote a nice editorial about funneling all the savings the city would reap when all of the<br />
annuitants would be adequately covered under the provisions of this Act ("Obamacare") back to the funds as supplemental<br />
pension funding. The sun was really shining that day.<br />
There have been a few other things in the news about this issue. The Mayor indicated in an interview with Carol Marin a<br />
couple of months back that he thought the program would continue beyond June 30, 2013 and that enough was budgeted<br />
to run the program through the end of 2013.<br />
A few of the Aldermen had a Budget/Audit Committee hearing on the matter and they reviewed all the fi ndings of the<br />
RHBC report. They too recognized that the budget had enough money to fund the anticipated costs for all of 2013’s<br />
Annuitant Health Care Program under the existing structure (no mention of the lack of subsidies) I’m not sure if that<br />
alone is enough authority to continue the plan. I hope it’s OK to keep sending in our bills after June 30, 2013 under such<br />
an informal arrangement.<br />
The Mayor’s “Roadmap” plan for pension reform including reference to continuing retiree health care, was developed as<br />
part of contract negotiations with the police sergeant's union. This was the fi rst time in my career (approx. 50 years worth)<br />
that I have ever seen all of these items considered under the umbrella of contract negotiations. It was resoundingly voted<br />
down.<br />
So here’s the reality. The provisions of retiree health care are not covered under the more ironclad Illinois state constitutional<br />
protection afforded to actual pension benefi ts. They know we’re out here waiting and they know June 30, 2013 is around<br />
the corner. They know how much future retiree health care is going to cost. I think they might want to hold us hostage in<br />
an attempt to bargain for changes to the pension benefi ts for existing city workers and retirees.<br />
They know the cost breakouts at several different levels at which they can squeeze the annuitants to pay more. It is likely<br />
that current workers and retirees might be asked to choose between future COLA increases in exchange for continued<br />
retiree health care. The State is considering that now in various forms of legislative amendment and discussion.<br />
I know these are diffi cult issues. I know that the uncertainty of health care is causing a great deal of anxiety, sleepless<br />
nights and heartburn, I promise to keep retiree issues at the forefront of all pension business.<br />
13
GIFT FUND DONATIONS AUGUST 2012-FEBRUARY 2013<br />
August 2012 Gift Fund Donations<br />
The Beemster Family Trust Kathleen Rowan<br />
Daniel Menard James & Janice Lynch<br />
Nora Mulchrone Elmwood Chapel Ltd.<br />
Michael & Bridget McCabe Joan Conroy<br />
Carol & James Meehan Marilyn Sloyan<br />
James V. Inendino William & Frances Alletto<br />
Lang Ice Company John G. Meade<br />
Thomas & Pauline Linane Edward & Shirley Duffi n<br />
Daniel & Keri Kelly Michael J. Kelly<br />
Donna L. Johnson Richard & Barbara Paulus<br />
James & Mariann Lynch James & Nancy Freeman<br />
Mary M. Doody Brian & Lisa O'Leary<br />
John & Karen O'Keefe Anthony H. Schulz<br />
Bruce M. Bozich Joseph & Barbara Lenzen<br />
Thomas & Karen Cumbee Ernest & Mary Schrodt<br />
Joan Carroll Thomas Rochford<br />
Erin K. Lynch James Kuhn<br />
September 2012 Gift Fund Donations<br />
Richard Bouse Edward Freemon<br />
Andres Medical Billing, Ltd. Haleema H. Brady<br />
Lockport Township High School Richard Bouse<br />
Dolores Furlong Andres Medical Billing, Ltd.<br />
David & Nadia Stevens Lockport Township High School<br />
Ottosen Britz Kelly Cooper Gilbert & DiNolfo, Ltd Dolores Furlong<br />
Engine 76, Truck 35, Ambulance 52 Chicago Fellowship of Christian Firefi ghters<br />
October 2012 Gift Fund Donations<br />
Paramedic Services of Illinois, Inc. CFD Engine 35<br />
Beverly Bank Jeffrey P. Blaksley<br />
Brian O'Toole Alexis Fire Equipment<br />
Jim Stedman James Rivera<br />
James J. Regan CFD Engine 109, Truck 32, Ambulance 34<br />
Richard Olson Heather Woodall<br />
CFFU Charity Fund, Inc. Chicago Fire Offi cers' Association Credit Union<br />
Richard Bouse<br />
November 2012 Gift Fund Donations<br />
Mark & Margaret Harper Kenneth G. Wagner<br />
Cornerstone Financial Advisors Joseph A. Cordero Sr.<br />
Teri & Larry Amidei Thomas C. Harts<br />
Beverly Bank Donald W. Mergler<br />
Virginia S. Connors James Kuknyo<br />
Karen Turk Thomas R. Carmody<br />
Joseph U. Bottalla Richard A. Wagner<br />
Carl & Patricia Patek Michael J. Walsh<br />
Carol A. Branagan-Rich Michael K. Barry<br />
Michael & Bernice Bachta Gerald K. Power<br />
James & Barbara Turk Michael J. Shanahan<br />
Richard & Jeanne Snyder James Stedman<br />
Robert & Mary Walsh Richard W. Diver<br />
The Burns Family Gaelic Fire Brigade<br />
Leslie M. Stern Design, Ltd. James E. McNally<br />
Kyle & Bridget Lawlor Daniel T. Sheehan<br />
Amanda Rennis Cortez Holland<br />
Steffan's Jewelers Inc. Robert & Nina Lesch<br />
14
GIFT FUND DONATIONS AUGUST 2012-FEBRUARY 2013 (cont).<br />
November 2012 Gift Fund Donations (cont)<br />
Luann M. Gavula Chicago Fellowship of Christian Firefi ghters<br />
Robert J. Brown Scott General Contracting Co.<br />
Dennis F. Smith Richard Graf<br />
Robert A. Popjoy Jr. Bernice Turner<br />
George Buckner Anthony H. Schulz<br />
William C. Alletto Samuel Rapinchuk<br />
December 2012 Gift Fund Donations<br />
Engine 46, Truck 17 & Ambulance 9 Timothy & Eileen Gainer<br />
Hazel T. Deacy Gerald K. Power<br />
Downers Grove Professional Lillian M. Wittner<br />
Robert W. Neylon Margaret L. Collins<br />
Acapulco Boys Richard & Margaret Bouse<br />
Michael J. Walsh Douglas & Karen Edwards<br />
John & Caroline Connors Allen & Peggy Greenquist<br />
Gloria A. Sears Bonnie Mae Anderson<br />
Thomas & Patricia Murphy Janice L. Radloff<br />
Eileen G. Werner Mark & Cynthia DeTrempe<br />
Robert J. Brown Lee Renis<br />
Donald & Margaret Bowman Dorothea T. Bidinger<br />
James A. Mowen Irene Bidinger<br />
Hugh F. Lynch Carol Patzin<br />
Robert & Mary Devens Dolores Furlong<br />
Michael Lopez Dorothy Manzie<br />
William & Shirley Melvin Beverly Bank<br />
Jeff Wessler Kenneth & Deborah Tyrrell<br />
John & Joan Finn Grace Stefan<br />
John Knight Richard & Janet Kotlarz<br />
Janet M. Garrett Jose Moreno<br />
Pamela J. Deiters James B. Fuller<br />
Anne C. Mate Engine 89/Truck 56<br />
Martin & Margaret Ranstead Gerald & Kathleen Benigni<br />
William & Frances Alletto Walter Schuberth<br />
Gerry Lichterman<br />
January 2013 Gift Fund Donations<br />
Hugh F. Lynch Margaret Ranstead<br />
Virginia S. Conners Gloria A. Sears<br />
Hazel Deacy James & Barbara Turk<br />
Pamela J. Deiters Jeff Wessler<br />
John & Joan Finn Cornerstone Financial Advisors, LLC<br />
Joan Knight William & Shirley Melvin<br />
Anne C. Mate Acapulco Boys<br />
Patricia Patek Lawrence & Therese Amidei<br />
Bonnie Mae Anderson Gerald & Kathleen Benigni<br />
Robert & Mary Devens John & Caroline Connors<br />
Allen & Peggy Greenquist Downers Grove Professional Firefi ghters<br />
Richard & Janet Kotlarz CFD Engine 89 / Truck 56<br />
Michael Lopez Dolores Furlong<br />
Janice L. Radloff Timothy & Eileen Gainer<br />
Lee Renis Gerry Lichterman<br />
Michael J. Walsh Dorothy Manzie<br />
Eileen G. Werner James A. Mowen<br />
Beverly Bank Thomas & Patricia Murphy<br />
Dorothy Bidinger Carol Patzin<br />
Irene C. Bidinger Gerald K. Power<br />
15
GIFT FUND DONATIONS AUGUST 2012-FEBRUARY 2013 (cont).<br />
January 2013 Gift Fund Donations (cont)<br />
Joseph U. Bottalla Leslie M. Stern Design, Ltd.<br />
Richard & Margaret Bouse Kenneth & Deborah Tyrrell<br />
Donald & Margaret Bowman Karen Turk<br />
Robert J. Brown Lillian M. Wittner<br />
Margaret L. Collins William & Frances Alletto<br />
Hazel Deacy James B. Fuller<br />
Cynthia C. DeTrempe Jose J. Moreno<br />
Janet M. Garrett CFD Engine 46, Truck 17 & Ambulance 9<br />
Robert W. Neylon Grace Stefan<br />
February 2013 Gift Fund Donations<br />
Geraldine M. Doherty Thomas & Patricia Nugent<br />
Michael & Annette Sass Jerome Trojanowski<br />
Judee A. Gurgone James & Ruth Wojciechowski<br />
Daryl J. McNabb Gaelic Fire Brigade<br />
Betty Lou Weiss Robert & Mary Devens<br />
Nicholas LaPorta The Women's Group of Northwestern<br />
Susan L. Schumer CFFU Charity Fund<br />
Terrence & Roseann LeFevour Philip H. Corboy Foundation<br />
William Alletto<br />
Anonymous<br />
Raymond Antonucci<br />
John Bahwell<br />
Joseph Baldacci<br />
Art Banach<br />
John Bangs<br />
Thomas Barder<br />
Kevin Barrett<br />
Peter Barrientos Jr.<br />
Mariano Barron Sr.<br />
Thomas Barry<br />
Richard Bastian<br />
Lawrence Berg<br />
Paul J. Bezazian<br />
Primo Biasi<br />
Gerald Bingham<br />
John L Biniak<br />
Rick & Maureen Biskup<br />
Joe & Leemon Boatner<br />
Lewis Bottando<br />
Daniel J. Bracken<br />
George Brackin<br />
Joseph Branigan<br />
John Brennan<br />
Jack Bronke<br />
Raymond J. Bronke<br />
Alicia Brown<br />
Robert J. Brown Jr.<br />
David R. Cachares<br />
Michael Cahill<br />
William F. Calkins<br />
William Campbell<br />
Annuitant, Widow and Disability Monthly Contributions<br />
Walter M. Carlson<br />
Patrick Carolan<br />
Helen C. Carroll<br />
Doreen Chambers<br />
Francis Chambers<br />
Chris Christian El<br />
John A. Clancy<br />
Michael Clatch Jr.<br />
Eileen Coglianese<br />
Gary C. Conaway Sr.<br />
Michael E. Concannon<br />
Martin L. Connolly<br />
James & Darlene Corbett<br />
Louis Cosco<br />
Leo J. Cox<br />
Francis Craven<br />
Catherine Cronin<br />
Eugene Cronin<br />
James Cross<br />
Daniel Cullen<br />
Thomas Cunnane<br />
Gerald Cunningham<br />
Peter Cunningham<br />
Shiela Cunningham<br />
Joseph T. Curran<br />
Ronald J. Dawczak<br />
Mike Deckelmann<br />
Robert Dehler<br />
Sidney Dembowski<br />
Lyn Deneen<br />
Robert Devens<br />
Charles Dineen<br />
Pauline Dini<br />
16<br />
Richard W. Diver<br />
Sean Dolan<br />
Richard E. Donati<br />
Thomas Donnellan<br />
Catherine Doody<br />
Francis T. Dorgan<br />
Carla Douros<br />
Lawrence Doyle<br />
Edward Duffy<br />
Michael Egan<br />
Clarence Ellison<br />
Raymond M. Ellitch<br />
Paul Enhelder<br />
Sharon B. Fineron<br />
James Fitzgibbon<br />
Kevin Fitzpatrick<br />
Thomas R. Flamm<br />
Gilbert W. Fleischhacker<br />
Malachy R. Flisk<br />
Michael R. Flisk<br />
Michael J. Flynn<br />
Alfred Franco<br />
Joseph Furlong<br />
Arnold C. Gacki<br />
Louis Galante<br />
David Garcia<br />
Francisco Garcia<br />
John W. Gariti<br />
Diane Gatz<br />
Martin Gaughan<br />
Norbert Gierut<br />
Brian Gilhooly<br />
Nancy T. Gill<br />
Frank Gillie Jr.<br />
Edward Glugla<br />
Mike & Sue Godsel<br />
Mike & Sue Goewey<br />
John A. Gollogly<br />
Joseph C. Graber<br />
Kevin Grand<br />
William F. Graves<br />
Joseph Gruszka<br />
William Guilfoyle<br />
James Guswiler<br />
Marvin R. Hagele Jr.<br />
Laraine Hansen<br />
William J. Harte<br />
Thomas C. Harts<br />
Terrence Harty<br />
June A. Haus<br />
Timothy Hayes<br />
William Hayes<br />
George Heim<br />
Michael E. Hein<br />
Norman S. Holland<br />
Raymond Holland<br />
Carl Hopkins<br />
Thomas Hosty<br />
Jolynn Huels<br />
Daniel K. Hughes<br />
Michael Hundrieser<br />
Tom L. Hunter<br />
Timothy Hynes<br />
Margaret Irwin<br />
Jacquenette L. Jackson<br />
Thomas Jacques
GIFT FUND DONATIONS AUGUST 2012-FEBRUARY 2013 (cont).<br />
Anthony Jaslowski<br />
Jack P. Jaslowski<br />
William Jones<br />
James T. Joyce<br />
Patrick Joyce<br />
Michael Juliano<br />
Michael Jurkash<br />
Michael J. Kammerer<br />
Steven Keating<br />
James E. Kehoe<br />
Rita Kehoe<br />
John Keller<br />
Kathleen Paolini-Kennington<br />
Michael King<br />
Thomas King<br />
Edwin Klinger<br />
Terry Knight<br />
George Korda<br />
Lawrence T. Koscianski<br />
Stanley T. Kotlarz<br />
Ronald S. Kovacs<br />
Kenneth P. Kozlowski<br />
Georgina Kroll<br />
James LaFaire<br />
James LaGreca<br />
James Lahey Jr.<br />
Peter D. LaManna<br />
Robert LaSpina<br />
LePear<br />
Edward LeTourneau<br />
Elizabeth M. Liesz<br />
Justine Lietz<br />
Michael Ligue<br />
Thomas Linane<br />
Lawrence J. Lonergan<br />
James J. Loughney<br />
Richard Luby<br />
Thomas L. Luczak<br />
Judith Lux<br />
Lawrence Mahler<br />
Joseph Mahoney<br />
August Malatia<br />
George Marek<br />
Nick Marino<br />
Thomas Markham<br />
James Abbatemarco<br />
Patrick Ahern<br />
Richard Alberts<br />
Eliasard Alcauter<br />
Jim Aldworth<br />
Robin Alvarez<br />
Kevin Angus<br />
William Marx<br />
Lawrence Matkaitis<br />
Richard Matkovich<br />
Lorraine McCarthy<br />
Edward McClung<br />
Jerry McCormack<br />
James & Patricia McCormick<br />
James McDermott<br />
Bernard McDevitt<br />
Michael McDevitt<br />
James McDonough<br />
Patrick R. McFarland<br />
Bob McGee<br />
Kevin McGinley<br />
Gerald McKee<br />
John H. McKee<br />
Helen McManus<br />
William McNamara<br />
John McPolin<br />
Jim & Joan McVady<br />
Michael Michon<br />
Robert Mierendorf<br />
Michael C. Miller<br />
James F. Mindak<br />
Rose A. Mohr<br />
Francis Moran<br />
Patrick J. Moran<br />
Thomas F. Moran<br />
John Moriarty<br />
Dennis Morrissey<br />
Robert Mrozek<br />
Joseph Mueller<br />
Timothy Mulcahy<br />
Richard Munson<br />
John Murray<br />
Tina Muscare<br />
Lawrence Myers<br />
Robert North<br />
Sven Oak<br />
James Oboikovitz<br />
Lawrence Oboikovitz<br />
John O'Brien<br />
Jamie L. O'Callaghan<br />
Joseph W. O'Connor<br />
Andrew J O'Donnell<br />
17<br />
Daniel O'Farrell<br />
John O'Hare<br />
John Ollry<br />
William G. Olson<br />
Patrick O'Malley<br />
Philip J. O'Neill<br />
Dorothy M. Ormond<br />
Robert Parise<br />
Bruce D. Parker<br />
Edwin & Joan Paulsen<br />
Richard V. Paulus<br />
Ronald Payne<br />
Mark Pecor<br />
Patricia K. Pemberton<br />
George Philbin<br />
Chester Piech<br />
Sam Pipitone<br />
Marian Pospisil<br />
Maureen E. Prendergast<br />
Stanley Prysok<br />
Geraldine Punjak<br />
George Radka<br />
Anthony J. Richards<br />
Howard Rimm<br />
Rudolph H. Rinas Jr.<br />
Anthony Romano<br />
Arthur Rosenquist<br />
Kenneth Rutka<br />
Patrick M. Ryan<br />
Donald B. Salzman<br />
John Schaefer<br />
Patricia A. Schaudenecker<br />
George Schlomas<br />
Michael Schoenecker<br />
Anthony Schulz<br />
Herman Seef<br />
Jack Seguin<br />
Daniel Sheehan<br />
William Sheridan<br />
Michael T. Shrader<br />
Wayne Sieck<br />
Jeffrey C. Silhan<br />
Vanesse Simmons<br />
Thomas Smith<br />
Jack & Lee Smithers<br />
Active Members Contributing via Payroll Deduction *<br />
Robert Arens<br />
Richard Aseves<br />
Joseph Atkins<br />
Jerry Augustine<br />
Lorenzo Ayala<br />
Wesley Bailey<br />
Robert Bansley<br />
Fredi Barroso<br />
Lee Basile<br />
Bradley Batka Jr.<br />
Richard Bauknecht<br />
Daniel Baumgartner<br />
Shelby Beckley<br />
David Benz<br />
James Snyder<br />
Peter Soto<br />
Stanley Span<br />
Richard O. Sterling<br />
Terrence Stewart<br />
Roger Stillman<br />
Dennis Stuart<br />
Richard J. Sturm<br />
Joseph Sudar<br />
Cornelius Sullivan<br />
Dennis Sullivan<br />
John P. Surane<br />
James Sutera<br />
Donald Svachula<br />
Jean Swierczynski<br />
Thomas M. Tafel<br />
Richard J. Ternes<br />
Robert Terzich<br />
Anthony P. Thomas<br />
William Thomsen<br />
Elizabeth A. Tinaglia<br />
Daniel Toth<br />
Michael Town<br />
Robert Trench<br />
Eleanor Tripam<br />
John Tumpich<br />
Robert Valentinas<br />
Joyce VanDorp<br />
John Vidinich<br />
Edgar Wagner Jr.<br />
George Walsh<br />
Peter Walsh<br />
Robert C. Walsh<br />
John G. Wassinger<br />
David White<br />
Jean White<br />
Frank J. Williams<br />
Winston Williams<br />
Thomas J. Wiltzius<br />
James Winbush<br />
Thomas Wisniewski<br />
Edward Witowski<br />
Raymond Wittekind<br />
Richard Zordan<br />
Josephine Zuccarello<br />
Thomas Bierwirth<br />
Daniel Biniak<br />
Scott Birmingham<br />
Charles Bliss<br />
Charles Bober<br />
James Bonnett<br />
Stephan Bosniack Jr.
GIFT FUND DONATIONS AUGUST 2012-FEBRUARY 2013 (cont).<br />
Maureen Bracken<br />
Steven Brazel<br />
Richard Brenn<br />
Kenneth Bruno<br />
Frank Burens<br />
Brian Burke<br />
Robert Burke<br />
Michael Butkus<br />
Brendan Byrne<br />
William Cader<br />
Dennis Cahill<br />
Jerry Cambria<br />
Brian Campbell<br />
Danny Carbol<br />
Frank Carone<br />
Patrick Carr<br />
Gerald Carter<br />
Patrick Casey<br />
Patrick Chambers<br />
Anthony Chavarria<br />
Michael Chesack<br />
Scott Chibe<br />
Richard Clemens<br />
Kyle Cloud<br />
Stephen Coachman<br />
Thomas Cody<br />
Richard Colby<br />
Ronald Coley<br />
Steven Collazo<br />
Gary Coney<br />
Brian Conrad<br />
Patrick Coogan<br />
Tim Corcoran<br />
Brian Corley<br />
Michael Cronin<br />
Frank Crossin<br />
Monyett Crump<br />
Alberto Cruz<br />
Raymond Cullen<br />
John Cullina<br />
Michael Cummings<br />
Peter Cunningham<br />
Thomas Czerniak<br />
Michael Daly<br />
Marlon Dampier<br />
Eric Davis<br />
Scott Davis<br />
Michael DeBella<br />
Daniel DeGryse<br />
Frank DeMarco<br />
Sean Devine<br />
Fernando Diaz<br />
Tyron Dickens<br />
Active Members Contributing via Payroll Deduction (cont) *<br />
Myron Dillow<br />
Robert Dodovich<br />
Martin F. Doherty<br />
Martin J. Doherty<br />
Donald Don<br />
William Doody<br />
Daniel Draper<br />
Michael Dudak<br />
Patrick Duddleston<br />
Alan Dudek<br />
Justin Dukes<br />
Charles Duncan<br />
Cory Eason<br />
Peter Eck<br />
Kevin Edgeworth<br />
Daniel Ennesser<br />
Ryan Enright<br />
Dan Fabrizio<br />
Cynthia Fagiano<br />
Patrick Fahrenbach<br />
Patrick J. Farrell<br />
Vincent Farris<br />
Matthew J. Fasan<br />
Michael Feyerer<br />
John Figliuolo<br />
Raymond Fineron<br />
Brian Finn<br />
Patrick Finn<br />
Sean Finn<br />
Ryan Finnerty<br />
Roger Fisher<br />
James Fitzgerald<br />
Patrick Fitzgibbons<br />
Garrett Flavin<br />
Lawrence Flynn<br />
Robert Fornaciari Jr.<br />
Thomas Furlong<br />
Michael Gacki<br />
Robert Gacki<br />
Ernest Gaichas<br />
Keith Gajeski<br />
William Gallapo<br />
Jose Garcia<br />
Ben Garrett<br />
William Gathling<br />
Timothy Geers<br />
Robert Gembala<br />
John Gleason<br />
John Glennon<br />
Joseph Gloude<br />
Drewone Goldsmith<br />
Eugene Gomez<br />
Gregory Gontarek<br />
18<br />
Matthew Graber<br />
Robert Graham<br />
Kevin Graves<br />
David Griggs<br />
Wayne Grooms<br />
Lawrence Grose<br />
Mark Grunauer<br />
Michael Guerin<br />
Gustavo Guerra<br />
Anthony Guerrieri<br />
Eric Guiden<br />
Hank Hamadeh<br />
Jameel Hamilton<br />
Kenneth Hanik<br />
William Heenan<br />
Michael Hein<br />
Brian Helmold<br />
Johnny Hendricks<br />
Paul Henneman<br />
Zachary Henry<br />
Edward Herrera<br />
Joseph Hoefl ing<br />
Samuel A. Holloway<br />
Philip Holzman<br />
Lee Hooper<br />
Peter Houlihan<br />
Gregory Hovanec<br />
Timothy Hunt<br />
Jerald Hunter<br />
Michael Imparato<br />
Russell Inniss<br />
John Jakubec<br />
Timothy James<br />
Dorian Johnson<br />
James Johnson<br />
John Joyce<br />
William Joyce<br />
Lawrence Kaczmarek<br />
Ed Keating<br />
Brian Kehoe<br />
Joseph Kerzich<br />
Glen Keys<br />
Neil Kinahan<br />
Brian Kinnear<br />
Michael Kirkpatrick<br />
Chuck Klomfar<br />
Garry Konchar<br />
Anthony Konieczka<br />
Jeff Koranda<br />
Robert Korn<br />
George Korzen<br />
Kyle Kostelny<br />
Ronald Kovacs<br />
William Kowal<br />
Andrew Kowaluk<br />
Joseph Kozmin<br />
Eric Kracinski<br />
Kevin F. Krahn<br />
Richard Kramer<br />
Brian Krawczyk<br />
Christopher Kreski<br />
Richard Krey<br />
James Krzeczowski<br />
Darin Lamb<br />
Mark Lanham<br />
Frank LaScola<br />
Frank Lehner<br />
Michael Lenihan<br />
Andrew Lewandowski<br />
John Leyden<br />
John Limberopoulos<br />
Richard Lona<br />
Roberto Lopez<br />
James Lopresti<br />
Neil Lubomski<br />
Mitchell Ludwig<br />
Jeffrey Lyle<br />
James Lyons<br />
Daniel Mainczyk<br />
Michael Malloy<br />
John Manchester<br />
Bernard Marasa<br />
Timothy Markham<br />
Anthony Martin<br />
Barbara Martin<br />
Bob Martin<br />
Kevin Martin<br />
Terence Martin<br />
Alan Martinez<br />
Seth Martinez<br />
Phil Marx<br />
David Matuszak<br />
Daniel McAuliffe<br />
Austin McCarthy<br />
Maureen McCarthy<br />
Robert McCrea<br />
Marc McDermott<br />
John McGill<br />
John McGinn<br />
Stephen McGinnis<br />
Mike McGrath<br />
Tom McGrath<br />
Geoffrey McIntosh<br />
Lee Ann McKay<br />
Brain McKermitt<br />
Sean McLean
GIFT FUND DONATIONS AUGUST 2012-FEBRUARY 2013 (cont).<br />
Mark McMillen<br />
Stephen McMillin<br />
Sean McMullin<br />
James McNally<br />
Daniel McVicker<br />
Julio Mendoza<br />
Thomas Meziere<br />
Brent Michalek<br />
William Monaco<br />
Jeffery Moore<br />
Patrick Moran<br />
Jose Moreno<br />
Jared Morris<br />
Anthony Moss<br />
James Mullaghy<br />
Joseph Murphy<br />
Kevin Murphy<br />
Patrick Murphy<br />
William Murphy<br />
Anton Muth<br />
Daniel Myers<br />
Robert Natale<br />
Christopher Nechvatal<br />
Robert Nelson<br />
Jeff Neumann<br />
Robert Neylon<br />
Thomas Niego<br />
Kevin Nitsche<br />
Patrick Nixon<br />
Clarence Norwood III<br />
Robert Nowicki<br />
John Nudo<br />
Mark Obog<br />
Michael O'Boyle<br />
Robert O'Boyle<br />
Gary O'Brien<br />
Timothy O'Brien<br />
Walter Obrochta<br />
Kevin J. O'Connor<br />
Paul O'Connor<br />
James O'Donnell<br />
Active Members Contributing via Payroll Deduction (cont) *<br />
Terry O'Donnell<br />
James O'Donovan<br />
Christopher O'Hara<br />
Kevin O'Hara<br />
Andrew Okon<br />
Sherry Olszewski<br />
William Oswald<br />
Luis Otero<br />
Joseph T. Owens<br />
Michael Palomo<br />
James Parisi<br />
Thomas Paston<br />
Jason Peace<br />
Isaac Pena<br />
Lori Perez<br />
Roger Perez<br />
Jeff Perovic<br />
Eric Peterson<br />
Charles Petruzzi<br />
Frank Phee<br />
Frank Plescia<br />
Daniel Polli<br />
John Popp<br />
Jeffrey Porter<br />
Daniel Power<br />
Frank Pressel<br />
Phillip Prestia<br />
Mark Prestigiacomo<br />
Scott Przystal<br />
Anthony Pulido<br />
Kenneth Purcell<br />
David Quintavalle<br />
Elias Quintero<br />
Brian Rafferty<br />
Joseph Ramirez<br />
Richard Ranos<br />
Scott Regnier<br />
Daniel Reidy<br />
Terrence Reilly<br />
Jerome Rickert<br />
Alfredo Rios<br />
19<br />
Abel Rivera<br />
Michael Roche<br />
Thomas Roche<br />
Harry Rolston<br />
Thomas P. Ruane<br />
Thomas E. Ryan<br />
Timothy Ryan<br />
George Ryback<br />
Martin Sarhage<br />
Christina Sarnowsky<br />
Charles Scarberry<br />
Richard Schofi eld<br />
Steven Schulz<br />
Thomas Scully<br />
Daniel Sedory<br />
Timothy Serbin<br />
Anthony Serritelia<br />
Michael J. Shanahan<br />
Daniel Sheahan<br />
Dennis Sheahan<br />
Terrence Sheppard<br />
Eugene Shim<br />
Steven Shimkus<br />
Michael Shrader<br />
John Siil<br />
David Sircher<br />
Leah Siwinski<br />
John Skudnig<br />
Frank Smagacz<br />
Michael Smandra<br />
Kevin Smith<br />
Matthew Smith<br />
Anthony Spangelo<br />
Steven Spreitzer<br />
John Stalzer<br />
Joseph Stanislawksi<br />
Joseph Stefansko<br />
Frank Stephens<br />
Charles Stewart lll<br />
David Stoeck<br />
James Stoll<br />
Daniel Sullivan<br />
Devin Sullivan<br />
Terrence Sullivan<br />
Theodore Sullivan<br />
Dennis Szczepaniak<br />
Paul Szczygiel<br />
David Szymczyk<br />
Michael Tagler<br />
Steven Tanguay<br />
Gregory Taylor<br />
Todd Taylor<br />
Scott Telkamp<br />
Bridgette Tertell<br />
Michael Tobar<br />
Christopher Tolbert<br />
John Tonne<br />
Thomas Torrence<br />
Timothy Trench<br />
Daniel Truesdale<br />
Angelo Tsokolas<br />
Bryan Tymick<br />
Thomas Ulanski<br />
Michael VanArkel<br />
DeShawn Vance<br />
Michael Vojtas<br />
Edward Waliczek<br />
Francis Walsh<br />
James Walsh<br />
Kevin Ward<br />
Lawrence Wells<br />
Steven Whiters<br />
Robert Whittle<br />
Michael Wilson<br />
Kevin Wirtz<br />
Lawrence Wooden<br />
Jeffrey Zarobsky<br />
Angelo Zeritis<br />
Donald Ziemba<br />
Thomas Znavor<br />
Matthew Zwolfer<br />
Thank you to all for your generosity<br />
* The above listing may not include all members who have graciously signed up for the Active Payroll Deduction program. This<br />
listing represents members that have enrolled through the assistance of Local 2, through the stewards or at the Fund offi ce. It<br />
does not include members who signed up directly through the City. Our appreciation goes out to all members who have chosen<br />
to support the Widows’ and Children’s Assistance Fund.
FROM THE ACTIVE TRUSTEE MICHAEL J. SHANAHAN<br />
In this edition of the <strong>Pension</strong> <strong>News</strong>, my fellow trustees have expounded on issues that our annuitants and active<br />
members are forced to consider each day due to the constant media attention focusing on the “pension crisis”<br />
in the state of Illinois.<br />
Trustee Martin discusses at length the current underfunded status of our fund and some of the reasons we are<br />
in this precarious situation. Trustee Carlson answers some of the questions regarding the Retiree Healthcare<br />
Benefi ts Commission and the current status of retiree healthcare. Lastly, Trustee Fabrizio points out<br />
misconceptions, errors and omissions in the media’s reporting of our benefi ts, disabilities and contributions.<br />
I would like to take this opportunity to review our investment returns and to illustrate why investment returns<br />
alone cannot provide a healthy fund.<br />
The year 2012 has seen continued upward movement. As of this writing, your fund is up 6.86% through<br />
March 31, 2013 which places our fund in the 3rd percentile within the Northern Trust universe of public funds.<br />
The chart below shows that as of March 31, 2013 we consistently outperform most other pension funds, as<br />
measured by the Northern Trust.<br />
Time Period Annualized Return Percentile Rank<br />
Year-to-Date 6.86% 3 rd<br />
1 Year 12.01% 8 th<br />
3 Year 11.03% 9 th<br />
5 Year 4.77% 57 th<br />
10 Year 9.94% 6 th<br />
Over the last ten years, our annual return is nearly 10%, which is almost 2% above our actuarial assumed<br />
expected rate of return of 8%. These investment returns are directly attributable to our prudent diversifi cation<br />
across most asset classes, including large and small, domestic and international stocks, bonds, private equity<br />
and commodities.<br />
Even with these strong, positive, best in class returns, your fund continues to struggle with signifi cant<br />
underfunding. As much as we would like, and as hard as we might try, we cannot invest our way out of our<br />
underfunded status.<br />
While no one can predict the course of future investment returns, either positive or negative, your Trustees will<br />
continue to be prudent, vigilant and diligent in the management and oversight of our investable assets.<br />
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ENDE MENZER WALSH & QUINN WIDOWS' AND CHILDREN'S ASSISTANCE FUND<br />
Through the Ende Menzer Walsh and Quinn Retiree’s Widow’s and Children’s assistance Fund (IRS authorized 501(C)<br />
(3)charitable organization) Active and Retired members, many businesses, and many of our friends across the city have<br />
contributed generously to help us raise and distribute money to the neediest of our participants. In 2012, we disbursed<br />
over $750,000 last year to 628 widows and 83 children. These gifts made possible by active and retired fi refi ghters,<br />
paramedics and our generous benefactors have helped many who are truly just barely making ends meet. Nearly as<br />
important, the people we help are remembered as extended members of our Chicago Fire Department. It has always<br />
been our goal to help ease the burdens that come with the loss of a father or mother or husband. What we have<br />
accomplished over more than 25 years has been no small task. There are so many people who are truly deserving of<br />
our gratitude to help make the support we provide others possible.<br />
Having been involved with this Gift Fund has really been a rewarding experience. Every year we get hundreds of phone<br />
calls and thank you cards from widows and children in gratitude for the support that you provide. Some of the calls<br />
really put things in perspective. In 2012, one elderly widow called shortly before Christmas and told us the story of how<br />
she was boiling water for nearly three months because she couldn’t afford to get her hot water heater fi xed. The check<br />
we sent her enabled her to get it fi xed and she called to say thank you to everyone that helped that made it possible.<br />
Many others write in fond remembrance of their departed husband and tell of how much the Chicago Fire Department<br />
has meant to them and their families.<br />
Many people and organizations throughout the City have taken note and have volunteered their support for which we are<br />
extremely grateful. Jack O’Callahan, former 1980 US Olympic Hockey Gold Medal winner and Chicago Blackhawk<br />
along with Judy Rice, former City Treasurer and current Harris Bank Vice President were instrumental in initiating<br />
our annual Blackhawks Vs. Police and Fire Charity Softball Games. Jack and Judy along with the entire Chicago<br />
Blackhawks and Harris Bank organizations jumped in and helped us greatly expand a Chicago corporate outreach<br />
allowing us to do even more than we have in the past. The Chicago Blackhawk Alumni, The Harris Bank, The Chicago<br />
Firefi ghter’s Local 2, Sal Ferrara of Ferrara Pan Candies, Larry Wirtz now with WGN and Carol Cooling and Jodi<br />
Bajor of NBC, the Blackhawks Ice Girls, Pepsi, Saint Xavier University, CBOE and CME, The Battle of the Badges<br />
committee, The Chicago Police Memorial and our MC Mike Adamlee are just a few who have been instrumental in<br />
our growth as a charity. They all have a piece in that new water heater for one of our neediest widows. They all helped<br />
many elderly widows purchase and wrap Christmas presents for grandkids.<br />
I would also like to personally thank a few of our own Chicago Fire Department members who are always willing to<br />
commit their time and services. Local 2’s director of Public Relations Tim O’Brien, Lt. Mike Neeham and Lt. Dave<br />
Leno were very instrumental in building stands and preparing the fi eld for this year’s event at SXU. I would also like to<br />
thank my fellow trustees and staff for their support and attendance at the event.<br />
On April 23rd, while fi nishing the newsletter and planning for this year’s event, I opened a letter for the Gift Fund and<br />
was pleasantly surprised to receive a check from our former mayor, Richard M. Daley for our Ende Menzer Walsh &<br />
Quinn Retiree’s Widow’s and Children’s Assistance Fund. While I was preparing the formal IRS required contribution<br />
receipt, Mayor Daley called to let us know that support that we provide to our neediest participants is special, unique and<br />
helps a lot of deserving people. On behalf of all involved, I expressed our thanks for his generous support.<br />
In conclusion, given our neediest participants needs and the fact that they receive no cost of living increases. We are<br />
committed to always increasing our efforts. We are beginning our efforts for this year’s event. We’ll gladly accept<br />
anyone’s offer to help in any capacity. We are all committed to an even better year. To all of you that contributed, thank<br />
you. For those that want to contribute, call the Fund offi ce at (312) 726-5823 and we can assist with payroll deduction<br />
for active and retired members.<br />
21
SOFTBALL<br />
22
SOFTBALL<br />
23
FIREMEN’S ANNUITY & BENEFIT FUND<br />
Twenty South Clark Street<br />
Suite 1400<br />
Chicago, Illinois 60603<br />
PENSION FUND OFFICE OBSERVED HOLIDAYS<br />
The <strong>Pension</strong> Fund Office is open Monday through Friday 8:00 a.m. until 4:30 p.m.<br />
The Fund Office is closed on the following holidays:<br />
New Year's Day<br />
Martin Luther King Jr. Day<br />
Lincoln's Birthday<br />
Washington's Birthday<br />
Pulaski Day<br />
Memorial Day<br />
July 4th<br />
Labor Day<br />
Columbus Day<br />
Veterans' Day<br />
Thanksgiving<br />
Christmas<br />
PRESORTED<br />
STANDARD<br />
US POSTAGE PAID<br />
CHICAGO, ILLINOIS<br />
PERMIT NO. 1174