According to a press release last week, the Illinois Fraternal Order of Police has come to the table with the Pritzker Administration about consolidating police pensions. According to statements released by Illinois Fraternal Order of Police (FOP) State Lodge President Chris Southwood and Illinois FOP Labor Council Executive Director Shawn Roselieb on Friday, they had come to an agreement to amend the legislation.
The revised legislation would give active and retired municipal police officers a majority on the board that will control the consolidated investments. The revised bill would allow pension funds to provide the best rate of investment return for police officers. The amended legislation would also make corrections to the tiered system of pension benefits.
According to other information in the press release the fraternal order had lobbied for these changes and are trying to ensure they make it into the final language of the bill. Locally, most police and fire departments have opposed the state’s control of these pension funds due to past state mismanagement. The final bill is expected to be brought to a vote during this week’s final veto session.