There are currently over six hundred police and fire pension funds in Illinois. The Board Of Trustees of each fund makes the investment decisions, manages the fund, and authorizes disability and retirement pensions in accordance with Illinois Statutes. In the aggregate, these funds manage over ten billion dollars.
The IPPFA services member needs by: holding educational seminars, producing trustee and investment handbooks and making referrals for professional services as required (e.g. physicians, attorneys, accountants, actuaries, money managers, financial advisors). In addition, the Association sponsors legislation, investment opportunities, prepaid medical retirement plans and an optional defined contribution plan (VEBA plans, and the IPPFA 457 plan).
The Association publishes a quarterly newsletter, maintains an active website, and in conjunction with Northern Illinois University has offered the Certified Pension Trustee Program since 1999. IPPFA maintains active memberships and reciprocal agreements with state and national organizations that have similar goals and objectives.