On Monday, December 14th, the Elgin Police Pension Fund held a special meeting to discuss if the board should join a lawsuit to be filed against the Police Officers Pension Investment Fund and the newly created 40 ILCS 56/322B-101 Consolidation Investment Statute. The proposed lltigation will attempt to stop the State from consolidating all the downstate police pension funds into one state managed investment fund.
The Elgin Police Pension Fund voted “yes” to join the lawsuit which is to be filed by the attorneys of Konicek & Dillon, PC in Geneva, IL.
IPPAC is closely monitoring the situation and will provide update.
Watch the video of a portion of the meeting led by Attorney Cary J. Collins: