Police Pension Board

Meetings

• 8:30 AM on January 26, April 27, July 27 & October 26
• Police Department
  410 Green Bay Road
  Winnetka, IL 60093

Agendas & Minutes

Agendas are available prior to the meetings. Minutes are available following approval.
View Agendas and Minutes

Members

Pursuant to Article 3 of the Illinois State Pension Code, the Village of Winnetka is required to establish and administer a police pension fund for the benefit of the Village’s sworn police officers, and of the officers’ surviving spouses, children and certain other dependents. The Police Pension Board (PPB) is a five-member board that is created by Section 3-128 of the Pension Code and is charged by law with controlling and managing the Police Pension Fund. The Police Pension Fund derives its funds primarily from property taxes and police officer contributions.

The PPB consists of the following five members: 

• Two members appointed by the Village President
• Two active members of the police force elected by their fellow active officers
• One representative of the beneficiaries elected by and from all beneficiaries of legal age

Terms

All members of the PPB serve for a term of two years. The appointed members are appointed so that their terms expire in alternate years. Elections for the active police representatives and the beneficiaries’ representative are held every other year, on the third Monday in April. Although not a member of the PPB, the Village Treasurer serves as the Board’s treasurer.

Powers & Duties

• Control and manage the Police Pension Fund, and all of its investments, expenditures and revenues
• Accept donations for use by the Police Pension Fund
• Enforce the statutory requirement that all active police officers contribute to the fund
• Hear and determine applications for retirement benefits from the Police Pension Fund and order the payment of benefits to qualified beneficiaries
• Hear and determine applications for and order the payment of disability benefits, and to conduct periodic examinations of claimants or recipients to confirm the continuing existence of the disability
• Make rules necessary for the discharge of its duties and to distribute copies of its rules to all pensioners and contributors
• Invest funds in accordance with the requirements of the Illinois Pension Code
• Submit to the Village Council, at the close of each Village fiscal year, a list of persons entitled to payments from the pension fund
• Conduct actuarial studies, to establish reserves and to determine an annual budget amount sufficient to meet actuarial requirements of the police pension fund
• Report annually to the Village Council on the condition of the police pension fund, certifying the assets on hand and their current value, estimating receipts and expenditures, and estimating the amounts required to meet the annual requirements of the fund and to amortize the fund’s unfunded accrued liabilities over a period of 40 years from July 1, 1993