All municipalities in Illinois with populations of at least 5,000 must participate in the Downstate Police Pension system; East Dundee had a referendum in 1980 wherein the residents voted to participate in the program. The East Dundee Police Pension Board consists of two current officers elected by current officers, a retired officer elected by other retired officers, and two citizens appointed by the Village President.
The Board is charged with overseeing the fiscal operations of the Police Pension Fund and its fiduciary obligations. It is governed by the rules of the Downstate Police Pension Fund. Municipal Pension funds of this sort are not affiliated with state employee pensions, such as teachers or state workers. The Police Pension funds are separate and distinct entities and not merged with others, such as IMRF.
Our Police Pension is funded by officer contributions, investments and contributions from the village. The fund is routinely audited and commissions actuarial studies. Police Pension Board Trustees are volunteers, not compensated in any way.
|Retired Member Trustee