Bad idea: State-run pension funds
I have recently been informed that the state of Illinois wants to take over the police and fire pension funds from the local control of their respective communities. Sen. Dan Duffy is sponsoring SB3317 to essentially steal funds from these local funds and put them under the control of the state of Illinois. When his office was contacted they could give no reason for this takeover.
Looking at the current and past record of the state and their handling of money this could result in retired police officer and fire fighters losing the monies that they have been promised for their years of service.
This bill SB3317 needs to be struck down as soon as possible. This is a bad idea all around.
Robert Mayer
Elgin
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