Illinois Police Association Patch

ILLINOIS POLICE ASSOCIATION, INC.
7508 NORTH AVENUE, ELMWOOD PARK, ILLINOIS 60707
Phone: (708) 452-8332 - FAX (708) 452-1618
"An Organization For The Professional Law Enforcement Officer"

 
 

       
 
 
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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 Chiefís Association to support the bill was that the bill gives active and retired police and firefighterís 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 municipalityís plan to another.

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

Letís see what happens now.

 

 

 
 

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