Ken Sarni

Ken Sarni

General Anthony Zinni to Speak at the IPPFA Illinois Pension Conference
Source: IPPFA

General Zinni joined the Marine Corps’ Platoon Leader Class program in 1961 and was commissioned an infantry second lieutenant in 1965 upon graduation from Villanova University. He held numerous command and staff assignments that included platoon, company, battalion, regimental, Marine Expeditionary Unit, and Marine Expeditionary Force command. His staff assignments included service in operations, training, special operations, counter-terrorism, and manpower billets. He has been a tactics and operations instructor at several Marine Corps schools and was selected as a fellow on the Chief of Naval Operations Strategic Studies Group.

Come join the IPPFA for its 2017 IPPFA Illinois Pension Conference, held May 2nd through May 5th, 2017 at the Eaglewood Resort & Spa in Itasca, IL.

 

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Illinois Senate to try again on pension reform
Source: The State Journal-Register

Illinois lawmakers will be asked to again tackle cost-saving pension reforms as part of the “grand bargain” package of bills being negotiated in the Senate.

The new version takes a different approach to pension reform that advocates believe will allow it to withstand an inevitable court challenge.

However, an analysis of the bill prepared by a coalition of public employee unions disputes that idea and says the most recent reform plan is just as unconstitutional as a plan struck down by the Illinois Supreme Court in 2015.

The analysis was distributed to state lawmakers.

Gov. Bruce Rauner has pushed for lawmakers to enact pension reforms even as payments to the five state-funded pension systems eat up more tax revenue each year. Required payments to the pensions systems will increase by $1 billion in next year’s budget to about $8.8 billion. The state’s pension debt has now climbed to $130 billion.

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Welcome Byron Fire Protection District Pension Fund to IPPFA
Source: IPPFA

Welcome Byron Fire Protection District Pension Fund to IPPFA.

 

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Public Pension Resource Guide
Source: National Institute on Retirement Security

The Role Public Pensions on the Economy and for Employers, Taxpayers, Employees & Retirees.

Why Do Pensions Matter?

Public Pension Basics

Strong Public Pensions for Today & Tomorrow

2017-01-20_final_public_pension_resource_guide

 

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Bloomingdale officer remembered for his dedication, smile
Source: Daily Herald

Officer Raymond Murrell appeared destined to have a bright future with the Bloomingdale Police Department.

After less than a year on the force, the 27-year-old already had distinguished himself by earning honors at the police academy, helping save a man’s life during his field training and having positive interactions with the public once he officially was on the job.

But Murrell’s career was cut tragically short late Thursday when he was killed in a one-car crash while responding to a call.

“This is what he wanted to do. He loved being a police officer,” Chief Frank Giammarese said. “We were so lucky to have him. To lose him so tragically, it’s a hard thing.”

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Illinois Senate files backup bill for city worker pensions
Source: Chicago Sun Times

SPRINGFIELD — The Illinois Senate has filed a backup plan for a bill to help save two city worker pension funds — just days after Gov. Bruce Rauner vowed not to sign a measure without a statewide pension reform fix.

A bill already passed the Illinois House and Senate during the 99th General Assembly, which ended Wednesday. But Rauner won’t support the bill without wider pension reform. And his administration questioned the bill’s use of revenue — which they contend would resort to the city using property tax money to fund pensions after it runs out of funds from a new tax on city water and sewer service.

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Another Ruling Says Pension Set at Hire Can Be Cut
Source: PublicCEO

A second appeals court panel has unanimously ruled that the public pension offered at hire can be cut without an offsetting new benefit, broadening support for what pension reformers call a “game changer” if the state Supreme Court agrees.

The new ruling on Dec. 30 in a state firefighters suit on pension-boosting “airtime” purchases made several references to a groundbreaking ruling last summer in a Marin County pension “spiking” suit.

“The law is quite clear that they are entitled only to a ‘reasonable’ pension, not one providing fixed or definite benefits immune from modification or elimination by the governing body,” wrote Justice Martin Jenkins.

The two appeals court rulings are contrary to previous rulings known as the “California rule”: The pension offered at hire becomes a vested right, protected by contract law, that can only be cut if offset by a comparable new benefit, erasing any savings.

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IPPFA Regional Seminar – John A. Logan College – Caterville – Registration Now Open
Source: IPPFA

Come join the IPPFA for a regional seminar being held at John A. Logan College in Caterville Illinois.

For over 30 years, the IPPFA has offered public pension trustees the best and latest in trustee training education, striving to offer the best available training. Please join us for sessions in ethics, investment procedures, fiduciary responsibilities, and legal and legislative updates, all presented by nationally renowned speakers.

Register NOW

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Welcome North Riverside Fire Pension Fund to IPPFA
Source: IPPFA

Welcome North Riverside Fire Pension Fund to IPPFA.

 

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Massive state budget proposal appears
Source: Chicago Tribune

Senate lawmakers are meeting privately Monday afternoon to weigh a sweeping group of proposals designed to jump start stalled budget negotiations, including measures that would raise income taxes, expand gambling, hike the minimum wage and borrow billions of dollars to pay down government debt.

The effort comes at the start of a two-day lame duck session before a new legislature is sworn in Wednesday, meaning even if the proposals are approved by the Senate, the House wouldn’t have time to take action. But the approach is designed to get people talking after negotiations between Republican Gov. Bruce Rauner and Democratic House Speaker Michael Madigan broke down in December, just before a stopgap budget that funneled money to universities and social service providers expired with the new year.

Other proposals include an overhaul the state’s public employee pension system, consolidation of local units of government and a change in rules for how schools do contracts with outside vendors. The package would also include funding for universities and social service providers, which dried up Jan. 1. Efforts to overhaul the workers compensation system and freeze property taxes still had not been written into a bill as of early Monday afternoon, but those are key issues Rauner and Republicans have pushed for.

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