For immediate release: November 14, 2019
Contact: State Rep. Dave Severin (618) 440-5090
Springfield….Citing a rushed process and a lack of actuarial details, State Representative Dave Severin cast a NO vote on a proposal by Governor JB Pritzker to combine the assets of downstate and suburban police and firefighter pension funds during the final week of the 2019 Veto Session.
“The proponents of the legislation argue that consolidating the 650 or so downstate and suburban police and firefighter pension funds will lead to higher investment gains,” Severin said. “But, this plan places these assets at greater risk in order to achieve those gains. I’m not in favor of putting first responders’ pension funds at higher risk. The rush to get this done in Veto Session left me with too many unanswered questions about the long-term feasibility of consolidation.”
Severin says he was contacted many times by police and firefighters from the 117th district in the weeks leading up to the fall 2019 Veto Session.
“The overwhelming message I got from our first responders was, ‘do not support this,'” Severin said. “My no vote reflects the wishes of my constituents. This is a major change involving billions of dollars and in my opinion required further study.”
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