ILLINOIS (RFD) — Supporters call it a big step forward to help pension funds across Illinois. On Wednesday, the Governor signs legislation that will consolidate pension funds from downstate police and fire firefighters into two. The thought is that having a pair of funds instead of more than 600 will allow them to improve returns and save money on administrative fees. Pritzker says this should help alleviate pressure on local property taxes, because those taxes often pay for first responder pensions.
The measure got wide spread support from Republicans and Democrats and police and fire groups around the state.