Illinois Top Court Gives Pritzker Win With Pension Funds’ Merger
- Court issues preliminary opinion on pension fund pooling
- Plaintiffs had argued law violated state pension protections
Illinois Governor J.B. Pritzker
Photographer: Christopher Dilts/BloombergThe Illinois Supreme Court on Friday upheld lower courts’ rulings to allow the merger of billions in assets from hundreds of local pensions to move forward, a win for Governor J.B. Pritzker’s goal to shore up ailing public retirement plans in the state.
The court said a state law requiring the pooling of assets held by more than 600 downstate and suburban fire and police funds does not violate the state constitution’s pension protections as the plaintiffs had argued.