....A note from Central District Leg. Rep. Chuck Sullivan sent to central district E Boards....
In the last week or so many of your cities have received info from the Illinois Municipal League requesting that they forward a letter to the Governor asking him to sign HB 5088 that deals specifically with pension reform.
This bill passed both chambers on the last day of session and currently awaits the Governor's signature. The AFFI is neutral on this bill. The AFFI was successful in removing all the "bad" stuff from the IML's 3 pieces of legislation earlier in the session. The AFFI was able to add language to HB 5088 that mandates COGFA to do a comprehensive analysis of downstate pension funds and why some are funded at 103% and others are at 40%. This study will be completed and published by July 2009. It is the hope of the AFFI that the study will help us and the IML determine a much better approach to tackling pension reform. In the meantime, the AFFI will continue to support legislation that expands pension asset investment authority. If your City is adamant about sending a letter to the Governor requesting that he sign HB 5088 it is the AFFI's opinion that it will not do any harm.
If you have questions please call me.