The La Grange village board of trustees tonight will hold the first of two workshops to examine the status of the village's police and fire pension funds, and explore what steps might be necessary to insure their adequate funding in coming years.
The workshop will begin immediately following the board's regular meeting scheduled for 7:30 p.m. in the Village Hall auditorium.
“The funded status of our police and fire pension funds has been declining over the last several years," Trustee Jim Palermo, who closely monitors village finances, said. "The weak financial markets in this decade have been a significant contributor the under-funded status, but are by no means the only reason. I look forward to learning what the Village must do to improve the status of our police officers’ and fire fighters’ retirement funds, and what impact that will have on the delivery of village services.”
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