State law requires the establishment of an Article 3 Downstate Police Pension once the Village’s population reaches 5,000 or more. The Village of Elburn received notice from the U.S. Census Bureau that the village’s population now exceeds 5,000. As a result, in June 2011, the Village President and Board of Trustees established the Police Pension Board.
A board of 5 members shall constitute a board of trustees to administer the pension fund and to designate the beneficiaries thereof. The board shall be known as the “Board of Trustees of the Police Pension Fund” of the municipality.
Two members of the board shall be appointed by the mayor or president of the board of trustees of the municipality involved. The 3rd and 4th members of the board shall be elected from the active participants of the pension fund by such active participants. The 5th member shall be elected by and from the beneficiaries.
Meetings
Third Thursday Quarterly – January, April, July, and October, 4:00 pm (Village Hall, 301 E. North St., Elburn, IL 60119)
Meetings are open to residents, other members of the public, the press, and members of the Pension Fund. View Agendas & Minutes