New Law Consolidates 649 Downstate and Suburban Police and Fire Pension Plans into Two Statewide Funds
State Rep. Darren Bailey (R-Xenia) voted against Senate Bill 1300 signed into law last week by Governor Pritzker. The plan to consolidate nearly 650 fire and police pension funds around the state was opposed by the legislators from this region of the state.
Gov. Pritzker issued the following statement on Senate Bill 616:
“Consolidating downstate and suburban police and fire pensions is vital for relieving some of the burden of local property taxes while meeting our obligations to first responders,” said Governor JB Pritzker. “I’m pleased that President Cullerton has taken the important step of introducing this bill, and I look forward to continuing to work with stakeholders in the General Assembly to finish this important effort for thousands of residents and first responders around the state.