* Mark Maxwell…
Money managers who invest retirement savings for 649 local police and fire pension funds in cities and towns across the state are mounting a fundraising effort to try and defeat Governor J.B. Pritzker’s proposal to consolidate their smaller funds into two combined funds.
According to an email leaked to WCIA, a former board member at the Illinois Public Pension Fund Association (IPPFA) is working to raise nearly half a million dollars to hire lobbyists to kill the pension proposal during the fall veto session at the statehouse.
“The retention of two or three lobbyist (sic) would be beneficial,” the email said, adding that the estimated “costs for a 12-month engagement would be approximately $480,000.”
Retired Addison police detective Dave Wall sent the fundraising email out to other IPPFA members and investment fund managers with a deadline for them to respond with a commitment to spend on lobbying by this Friday.
Unless the leaders slow it down, I’m kinda thinking they may not need any lobsters after veto session ends in less than a month.