Cook County employees contribute 8.5% of their pensionable salary to the Cook County Pension Fund (CCPF). (Sheriff’s Police contribute 9%.) Through their years of employment, they build service credit towards a retirement annuity or pension. An employee’s years of service and total contributions are considered in the calculation of the member’s retirement benefit. The contributions are automatically deducted from each salary distribution and are not considered taxable income in the year the deductions are made.
CCPF has assets of more than $10 billion that are invested by the Retirement Board through an Investment Consultant and 39 Investment Managers. In addition to the income earned from investment activity, CCPF receives employee contributions through payroll deductions and employer contributions derived from an annual tax levy. The Cook County employer contributions have been fixed since 1984 at a rate of 1.54 times the employee contributions made in a fiscal year.
Through the CCPF employees and retirees can:
- manage their pension enrollment
- obtain your current service credit information
- make Life Event changes (such as getting married, having a baby, getting divorced, reporting a death, leaving County employment)
- learn about retiree health benefits
- plan for your retirement
- and much more
To learn more about your employee pension, visit the Cook County Pension Fund website.