Riverside will draft police pension funding policy - Riverside-Brookfield Landmark

Riverside will draft police pension funding policy - Riverside-Brookfield Landmark

Riverside trustees directed village staff to draft a new policy to ensure the village maintains flexibility while proactively meeting the state’s required level of police pension funding by 2040. Finance Director Yvette Zavala said Riverside, like all Illinois municipalities, must have its pension fund for police officers 90% funded by 2040, adding to the fund year over year while the funds generate interest through an investment pool that has b…