The Second District of the Illinois Appellate Court affirmed Kane County Circuit Court Judge Robert Villa’s ruling on the constitutionality of Public Act 101-0610, which created the Firefighters’ Pension Investment Fund (FPIF) and the Police Officers’ Pension Investment Fund. We appreciate the appellate court’s attention to the case.
FPIF closed the Transition Period on June 30, 2022, as required by statute. Approximately 99% of local firefighter pension funds have successfully completed the transition process. FPIF is committed to working with the remaining funds to do the same.
FPIF Chair Brad Cole, who also serves as Executive Director of the Illinois Municipal League, and Vice Chair Chuck Sullivan, who also serves as President of the Associated Fire Fighters of Illinois, have expressed their hope that the case is ended, particularly to avoid unnecessary litigation costs. Although FPIF has been able to manage a cost-effective, efficient transition process, the litigation has resulted in unexpected costs to FPIF, which will ultimately be borne by the local pension funds.
FPIF Executive Director William R. Atwood has emphasized the savings that FPIF has realized since the transition process began. Our research shows that firefighter pension funds are saving over $34 million per year in fee savings alone. We look forward to working with all of those funds to continue this good and important work.
FPIF Statement on the Appellate Court Opinion
