STATEMENT: City Treasurer Kurt Summers’ Statement on Passage of SB777

Chicago City Treasurer Kurt Summers today released a statement following the Illinois General Assembly’s passage of Senate Bill 777 over the weekend:

“Senate Bill 777 gives Chicago’s first responders peace of mind in their retirement plans while protecting our City’s hardworking taxpayers. I am grateful to the General Assembly for their bi-partisan vote in favor of the legislation and I thank Mayor Rahm Emanuel, House Speaker Madigan and Senate President John Cullerton for their leadership. Working together with our police and fire partners, this long-term solution is a significant step forward to fully funding our pension obligations. I urge Governor Rauner to stand with our Chicago Police and Fire Department families by signing this bill into law.”

Treasurer Summers serves as a trustee on four of the City’s public employee pension fund boards which include the Policemen’s Annuity and Benefit Fund (PABF); Firemen’s Annuity and Benefit Fund (FABF); Laborers’ and Retirement Board Employees’ Annuity and Benefit Fund (LABF); and the Municipal Employees’, Officers, Officials’ Annuity and Benefit Fund (MEABF).

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