laborers'and retirement board employees' Annuity and Benefit Fund of Chicago
June 19,2019
The Honorable Scott Waguespack
Chairman, Committee on Finance _ SS
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Re: Funding Resolution '^9-
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Dear Chairman Waguespack:
There is enclosed herewith, for transmittal to the City Council of Chicago, a copy of the Resolution adopted by the Retirement Board of the Laborers' and Retirement Board Employees' Annuity and Benefit Fund of Chicago (the "Fund") certifying the City of Chicago's required contribution to the Fund for the tax levy year 2020 (payment year 2021).
Please feel free to contact me if you have any questions or need additional information.
Michael Walsh Executive Director & Chief Investment Officer
Enclosure
cc: Ms. Jennie Huang Bennett, Chief Financial Officer, City of Chicago Ms. Erin Keane, City Comptroller, City of Chicago Ms. Susie Park, Budget Director, City of Chicago Hon. Anna Valencia, City Clerk, City of Chicago
321 North Clark Street, Suite 1300, Chicago, fL 60654-4739 ¦ LABFChicago.org
¦ Phone (312)236-2065 ¦ Fax (312) 236-0574
LABORERS' AND RETIREMENT BOARD EMPLOYEES' ANNUITY AND BENEFIT FUND OF CHICAGO
FUNDING RESOLUTION FOR THE YEAR 2020
WHEREAS, in accordance with the Illinois Pension Code, and specifically 40 ILCS 5/11-169(b), as amended, the Retirement Board (the "Board") of the Laborers' and Retirement Board Employees' Annuity and Benefit Fund of Chicago (the "Fund") is required to certify the amount of City of Chicago (the "City) contributions required under Article 11 for which the City shall levy a property tax in the following year; and
WHEREAS, 65 ILCS 5/8-2-3, as amended, provides that the City's budget shall include appropriations for "the taxes levied for the purposes of the reserves provided for in the Illinois Pension Code" ...
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