By Shruti Singh, includes “… A 2019 law championed by Pritzker would merge about 650 local police and firefighter pensions with assets topping $16 billion into two funds to cut costs and improve returns. … The law set a June 30 deadline for the consolidation of the funds, but many of the local pensions are hesitating or even refusing to merge until they learn the outcome of litigation to block the combining. … The lawsuit claims that the law takes away the plaintiffs’ local authority and ‘diminishes and impairs the pension benefits’ to which they are entitled.”
Read the full article on: Bloomberg