illinois-supreme-court-pensions

SPRINGFIELD, Ill. (AP) — The Illinois Supreme Court has upheld the consolidation of local police and firefighter pension systems, a rare victory in a yearslong battle to find an answer to the state’s besieged retirement accounts. The court’s unanimous opinion Friday rejected claims by three dozen working and retired police officers and firefighters. They complained the merger of 649 separate systems into two statewide accounts violated the state constitution’s guarantee that benefits “shall not be diminished or impaired.” The state has struggled for years with pensions. Statewide pension programs are $141 billion in the hole. The 2019 consolidation law pooled money from municipal funds to boost investment returns and cut administrative fees. The plaintiffs argued their loss of local control was impairment.

By JOHN O’CONNER for Associated Press