Police Pension Fund

Village of Northfield, IL FY2023-24 Approved Budget

Function

As provided for by state statute (40 ILCS 5/3-101), a pension fund has been established for the sole benefit of sworn police officers. The fund is directed by a duly appointed Board of Trustees consisting of two active police employees, one Police retiree, and two representatives appointed by the Village Board of Trustees. Annually, an independent actuary calculates the actuarial soundness of the fund. The fund provides benefits on the basis of age and years of service to qualified pensioners and dependents. In FY2022/23 the funds within this account were transferred, and are now under the investment authority, of the Illinois Police Officers Pension Investment Fund.








Police Pension Fund Revenues and Expenditures for Fund/Dept 20-00


Police Pension Fund Balance