SPRINGFIELD, Ill. (AP) – Illinois lawmakers are considering combining police and firefighter pensions into one fund to save local governments’ money.
The State Journal-Register reports that Republican Rep. Ryan Spain has proposed creating a single board and fund for all downstate communities. The bill is still in committee.
Mark Fowler is the executive director of the nonprofit Northwest Municipal Conference. He says having each pension board employ separate local trustees and employees is expensive.
Fowler says the larger combined fund could also lead to more lucrative investment opportunities.
Associated Fire Fighters of Illinois President Pat Devaney says local boards are more personal and efficient when reviewing applications.
Andrew Bodewes is with the Fraternal Order of Police. He says legislators could remove some regulations and bureaucratic hurdles to make the process more efficient.
