IL HR0942

Congratulates the Transition Board of Trustees of the Illinois Police Officers' Pension Investment Fund (IPOPIF) for their work establishing the new consolidated pension fund.

Public Act 101-0610 mandated consolidation of investment assets from 353 Illinois police pension funds into IPOPIF, representing approximately $8.5 billion in pension assets.

Governor JB Pritzker appointed a nine-member Transition Board on January 30, 2020, consisting of three municipal representatives, three active police officer participants, two retired police officer beneficiaries, and one Illinois Municipal League representative.

The Transition Board has met monthly since its initial February 24, 2020 meeting in Peoria to adopt bylaws, governance policies, and establish fiduciary responsibilities and organizational procedures.

Directs that a suitable copy of the resolution be presented to the IPOPIF Board of Trustees as a symbol of respect and esteem for their efforts in implementing the pension consolidation.