Illinois Supreme Court Affirms Pension Asset Consolidation Is Constitutional
by Hayley Loufek On January 19, 2024, the Illinois Supreme Court issued its decision declaring constitutional Public Act 101-610 (the “Act”), which consolidated the assets of downstate local police and firefighter pension funds into two statewide investment funds. The purpose of the Act is “to streamline investments and eliminate unnecessary and redundant administrative costs, thereby ensuring more money is available …
