Lawsuit Challenges Pension Asset Consolidation
by John E. Motylinski In 2019, the Illinois General Assembly passed Public Act 101-0610, which required downstate police and firefighter local pension funds’ assets to be consolidated into statewide funds for investment purposes. Since then, the Firefighters Pension Investment Fund (FPIF) and the Illinois Police Officers’ Pension Investment Fund (IPOPIF) have geared up to receive those investment funds and go …