The City of Naperville announced that Mayor Steve Chirico was named to the Illinois Firefighters Pension Investment Fund Transition Board by Governor J.B. Pritzker.
Goals of the Pension Board
Chirico will serve as part of a nine-member team that will work to consolidate suburban and downstate fire pension funds into a newly created fund controlling approximately $6.3 billion in combined assets. Larger statewide funds typically result in greater returns, which the team hopes will alleviate property taxpayers in Naperville and across the state.
“A Top Legislative Priority”
“It is a privilege to be appointed to this transition board and help put into action the pension relief this legislation set into motion,” said Chirico via a press release. Chirico also serves as president of the DuPage Mayors and Managers Conference. “Pension reform has been a top legislative priority of both the City and the DMMC, and to participate in the process that will ultimately relieve taxpayers across the state of some of their pension burden is a role I take very seriously. I look forward to serving on this transition board and thank the Governor and the IML for their support.”
Naperville News 17’s Casey Krajewski reports.
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