News

News

ELECTION POLICY-Illinois Police Officers’ Pension Investment Fund
Source: POPIF

ELECTION POLICY-Illinois Police Officers’ Pension Investment Fund

The Board Election Policy, Candidate Petition forms, and Statement of Candidacy forms for the Illinois Police Officers’ Pension Investment Fund are now available for review and completion. Please click on the link below to review the following documents:

Read more

IPPFA Press Release: Pension Obligation Bonds Study
Source: IPPFA

Illinois Public Pension Fund Association urges communities to examine Pension Obligation Bonds as possible solution to unfunded liabilities

 

The Illinois Public Pension Fund Association (IPPFA) urges communities to examine Pension Obligation Bonds as a possible solution to unfunded pension liability issues. The IPPFA is offering a free informational bulletin on the benefits and risks of these bonds to assist police and fire pension funds and their local governments in any decision-making process.

 

“Pension Obligation Bonds are not a risky financing bet,” said IPPFA President James McNamee. “These bonds are a well thought-out technique in which the possibility exists to substantially lower the taxes needed to meet pension obligations.”

 

While the IPPFA neither endorses nor opposes the use of Pension Obligation Bonds, the organization encourages all pension funds and their mayors and treasurers to discuss the option with their bond and legal advisors.

 

Communities and fire districts can issue government bonds and place the bond sale proceeds into their pension funds to attain full funding. This technique can work if the investment return in the local pension fund over several decades exceeds the interest rate that must be paid on the bonds, as it typically would in many municipalities. If the Pension Obligation Bond approach is successful, local residents and businesses would pay less in taxes to retire the municipality’s unfunded pension liability.

 

The IPPFA bulletin notes that the local tax savings comes both from the low interest rate on the bonds and the elimination of the so-called “ramp” financing, in which higher pension fund payments are made in later years. The bulletin notes, however, that the Pension Obligation Bond approach is not for everyone, particularly local pension funds with a lower rate of investment return.

 

“The Center for Retirement Research at Boston College found that the best chance for success is when bonds are issued by financially sound and well run governments who understand the risk and have a pension reform or financing strategy,” McNamee said. “Bonds issued by fiscally stressed cities seeking budgetary relief are riskier.”

The IPPFA was founded in 1985 as a not-for-profit organization whose mandate was to educate public pension fund trustees. In 2009 the IPPFA became the primary education provider for public pension fund trustees in the state of Illinois, and its members manage more than $18 billion in pension assets.

 

# # #

To view IPPFA’s study on Pension Obligation Bonds, please click here.

Read more

Registration is Now Open for the 2020 MidAmerican Pension Conference
Source: IPPFA

This year’s MidAmerican Pension Conference will be held from September 30th through October 2, 2020
at the:
Embassy Suites Hotel
1823 Abriter Ct.
Naperville, IL 60563

Register Today

 

For this year’s MidAmerican Pension Conference, we will be offering you the option to attend in-person or virtually.

Please be aware that in order for us to stay in accordance with social distancing guidelines, in-person attendance will be limited and will be on a first come, first serve basis.

This conference will include all 8-hours of continuing education training for annual renewal, as well as 4-hours of required consolidation transition training. This specialized consolidation training will be offered on the last day of the conference, October 2nd. The mandatory, 4-hour consolidation transition training will be brought to you with the cooperation of the Brookfield Fire Pension Fund and Northern Illinois University.

We will also be offering 8-hours of Public Safety Benefits training, including topics such as: Social Security Survivor’s Benefits, GPO, WEP, Medicare, Benefits Overview, Taxation of Benefits, Illinois Insurance Continuation Privilege, PEDA, PSEBA, Supplemental Retirement Benefits, and IMRF.

Read more

A Meeting of the Illinois Police Officers’ Pension Investment Fund – July 10, 2020
Source: POPIF

NOTICE: A MEETING OF THE ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND – Election Committee

To be held on Wednesday, July 10, 2020 at 9:00am.

You can view the agenda by clicking IPOPIF Meeting Agenda

Zoom Digital Platform

ZOOM Invite: Public invited through telephone, see agenda for details.

Read more

Fed aid helps Illinois cut unpaid bills to lowest in five years
Source: Crain’s Chicago Business

(Bloomberg)—Illinois, the first U.S. state to tap into Federal Reserve aid for pandemic-battered governments, has reduced its unpaid bills to the lowest level since 2015.

The backlog shrank to $4.8 billion on June 12, down from $6.9 billion at the start of the month, according to data from Illinois Comptroller Susana Mendoza’s office. The number, which stood at about $5.5 billion on Wednesday, had swelled to more than $8 billion in April after shelter-in-place policies were enacted.

Full Article

 

Read more

A Meeting of the Illinois Police Officers’ Pension Investment Fund – July 7, 2020
Source: POPIF

NOTICE: A MEETING OF THE ILLINOIS POLICE OFFICERS’ PENSION INVESTMENT FUND – Election Committee

To be held on Wednesday, July 7, 2020 at 3:00pm.

You can view the agenda by clicking IPOPIF Election Committee Agenda

Zoom Digital Platform

ZOOM Invite: Public invited through telephone, see agenda for details.

Read more
Top