“It is clear that the current pension system is not sustainable, as the future of pensions for many first responders remains uncertain, even though they have contributed to their fund each check and have worked to keep our communities and state safe their entire careers,” said Hurley. “A pension is a promise, so our state is in serious need of reform to ensure pension security for our first responders. This legislation is a huge step toward real reform and will result in significant cost savings as it will eliminate duplicative services and increase efficiency, helping to provide much-needed relief to local homeowners.”
Throughout her time as state representative, Hurley has continuously passed measures to support first responders, and currently serves on the Property Tax Relief Task Force. Hurley supported Senate Bill 1300, which would consolidate first responder pension systems over a 30-month transition period, significantly reducing the financial burden on homeowners. The Hurley-backed reform is a result of negotiations between the Illinois Municipal League, Associated Fire Fighters of Illinois and Illinois Fraternal Order of Police that will result in between $820 million to $2.5 billion in increased investment returns within the first five years.
“Consolidating the assets of the more than 650 downstate public safety pension funds throughout Illinois will help provide stronger investment returns for active and retired public safety employees and reduce redundant administrative costs on Illinois’ taxpayers,” said Illinois Municipal League Executive Director Brad Cole. “This is a good first step forward on the complicated and comprehensive issue of pension reform.”
For more information, contact Hurley’s constituent service office at 773-445-8128 or RepFranHurley@gmail.com.