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Member Update
Pension Consolidation

The Police Benevolent and Protective Association of Illinois, along with other police groups and stakeholders, has been meeting throughout this week with legislative leaders and members of Governor J.B. Pritzker's staff to discuss the proposed consolidation of downstate Illinois police and fire pension systems. We expressed our opposition to the initial legislation and its potential impact on police officers’ retirement security.  Thanks in large part to our members calls and letters to the editor, we have been successful in convincing legislators to amend the bill (originally agreed to by the AFFI) to address several major concerns. We have agreed in principle with these proposed amendments and will ensure they make it into the final language of the bill.

The revised legislation gives active and retired municipal police officers a majority on the board that controls the consolidated investments.  The bill includes provisions that keep police pension monies in a separate fund WHICH CANNOT BE ACCESSED, SWEPT, or USED AS COLLATERAL by the state.  It also provides that this new board is limited to investment decisions, NOT decisions about benefits. The revised bill also removes outdated and damaging restrictions on pension investments so that police officer funds can be invested more appropriately under the guidance of the new police majority board.

The amended legislation also makes crucially needed corrections to the unfair and flawed tiered system of pension benefits.  Finally, the proposed amendments ensure that the local pension boards remain in place to administer benefits and that their decisions will not be subject to interference by third parties

We are cautiously reviewing proposed language to protect our members’ interests as much as possible. 

We will update members regarding ongoing developments as they occur. 

November 8, 2019

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