Illinois Supreme Court Unanimously Upholds Consolidation of Police and Firefighter Pension Funds, Rejecting Dilution Arguments
SPRINGFIELD, Ill. — The Illinois Supreme Court recently ruled in favor of upholding a 2019 law that consolidated nearly 650 municipal police and firefighter pension funds, dismissing claims that the voting power of pension fund members was unconstitutionally diluted. The law, signed by Gov. JB Pritzker, brought together 649 individual pension funds into just two in order to streamline management and increase investment opportunities. This move was aimed at maximizing returns and reducing administrative costs …