Illinois Police Association Patch

ILLINOIS POLICE ASSOCIATION, INC.
7508 NORTH AVENUE, ELMWOOD PARK, ILLINOIS 60707
Phone: (708) 452-8332 - FAX (708) 452-1618
Office Hours: Monday-Friday 9:00am to 3:00pm
"An Organization For The Professional Law Enforcement Officer"

 
 

       
 
 
>>  Home
>>  About Us
>>  IPA Store
>>  Contact Us
>>  IPA By-Laws
>>  Memberships
>>  Favorite Links
>>  Local Divisions
>>  Event Calendar
>>  Member Benefits
>>  Savings Network
>>  Legislation Update
>>  Annual Conference
>>  IPA Credit Card
>>  IPA License Plates
>>  IPA Official Journal
>>  Cop Shop Program
>>  Member Information
>>  IPA Member Insurance
 
              



              



 
 
Illinois Police Association LEGISLATION UPDATE...
 
LEGISLATION UPDATE:                                                  11/15/2019
 

POLICE & FIRE PENSION LEGISLATION

 
Police/Fire Consolidation Update

On Thursday, 11/14/2019, the Governor, legislators, along with the support of the FOP and Illinois Chiefs Association held a meeting in the Capitol in the House Personnel & Pensions Committee to discuss the plan to consolidate over 600 local pension funds for both suburban and downstate law enforcement officers
and firefighters.

SB1300 passed both the House and Senate with an overwhelmingly vote in favor of consolidating all of the local pension funds.

One key change in the bill that changed over the FOP and Chief’s Association to support the bill was that the bill gives active and retired police and firefighter’s majority representation on the board that will oversee the funds.

The plan would to gather the monies into two statewide funds, one for the police and the other for the firefighters, for investment purposes but would maintain separate accounts within the funds. By collecting the funds together, the funds would theoretically increase investment returns and the liabilities and assets would not be shifted from one municipality’s plan to another.

Go to www.ilga.gov and look up SB1300 for more information.

Let’s see what happens now.

 

 

 
 

Copyright © 2003-2024 Illinois Police Association and Piraino Enterprises all rights reserved. Reproduction in whole or in part in any form
 or medium without the expressed written permission of the Illinois Police Association and Piraino Enterprises is prohibited.