By Rob Kozlowski
Source: Pensions & Investments
The Illinois Supreme Court has affirmed the constitutionality of two new consolidated investment funds combining the assets of the state’s municipal police and firefighters’ pension funds.
The court released its opinion on Jan. 19, and the decision appears likely to end a multiyear battle that followed Illinois Gov. J.B. Pritzker’s signing of legislation in 2019 that consolidated the state’s municipal police and fire pension plans based outside the city of Chicago into the $10 billion Illinois Police Officers’ Pension Investment Fund, Peoria, and the $7.7 billion Illinois Firefighters’ Pension Investment Fund, Lombard.