SPRINGFIELD, Ill. (AP) - Gov. J.B. Pritzker plans to push legislation this month to combine municipal fire and police pensions into two massive funds.
Pritzker unveiled a task force report Thursday in Chicago. It recommends combing 649 pension accounts outside of Cook County into two totaling more than $14 billion in assets. The Democrat says the larger balance would boost returns as well as reduce administrative costs.
The report contends the combined pool would generate up to $2.5 billion extra in returns in five years.
People were interested in these podcasts
The General Assembly returns to Springfield on Oct. 28.
Pritzker wants the task force to continue studying tougher pension problems - nine Chicago and Cook County funds with a funding gap of $44 billion and six statewide funds that are short by $131 billion.
___
Online
Pension report: https://bit.ly/320ohe9
Please read our comment policy before commenting.