Gov. Pritzker Statement on House Passage of First Responder Pension Consolidation

Statement

Governor JB Pritzker released the following statement after the House passage of legislation to consolidate assets of 650 suburban and downstate police and fire pension plans into two statewide funds.

"The House has taken a huge bipartisan step toward a commonsense solution for alleviating the enormous property tax burden in downstate and suburban communities that are struggling to meet their pension obligations," said Governor JB Pritzker. "Consolidating these small funds means that they could improve their investment returns by as much as $2.5 billion over the next five years. While this effort has been more than a half century the making, today's progress would not have been possible without Rep. Jay Hoffman's guidance in the House, and I look forward to the Senate moving forward on a measure that has earned the support of local municipalities, firefighters and police officers. I urge the Senate to swiftly pass this legislation so we can continue improving our state's fiscal health and secure the retirements of the workers who earned them."

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