Illinois Treasurer Thinks Pension Consolidation Can Save Money
October 15, 2019 1:57PM CDT
Illinois’ treasurer thinks combining the state’s hundreds of local pension plans could save money. Treasurer Mike Frerichs yesterday said combining police and fire pensions for suburban and downstate communities would allow cities and towns to get rid of their pension consultants and local fund managers. He said having just two funds would save on administrative costs, and could get local police and fire departments higher returns on their retirement investments.