Lisle Police Association
Metropolitan Alliance of Police
Chapter #87



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Lisle Police Pension Fund
 
Pension Fund Home Page     Your Local Pension Board    Overview    Regular Service Benefits    Disability Benefits    Survivor Benefits    Employee Contributions and Taxation    Credible Service    Portability / Transfer of Pension Credit    Self Managed Plan    Applications / Forms

"Self-Managed Plans" Under the Illinois Pension Code

Officers who review the pension statutes will note references to an option to participate in a "self-managed plan" instead of the defined benefit pension plan for "Regular Service" & "Disability Pension" described above.  Note that such self-managed plans have not yet been established by the State of Illinois.

If the State does in fact establish such plans, recruit officers need to consider the options provided by a "self-managed" plan.  The decision to participate in a self-managed plan may be considered an irrevocable decision.  It has a huge impact on your future. 

Consideration should be made base on the hard dollars available for officers. 
Pay close attention to what, if any, benefits are available for officers who are injured or killed.  Consider the final benefit you would receive at retirement, and the effect of a fluctuating market prior to retirement. 

Member Data for Participation.
To insure coverage and benefits under the Pension Fund, officers should apply for participation and complete an Application for Membership form within three months of being hired. This form is available from the Police Pension Board of Trustees, and usually provided by HR of time of hire.


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Copyright 2008 Lisle Police Association, Inc.
Incorporated June 25th, 2001
Last modified: 09/25/13