Firefighters Pension Board
PURPOSEPursuant to Article 4 of the Illinois Pension Code, the Village of Niles is required to establish and administer a firefighters' pension fund for the benefit of the Village's firefighters and of the firefighters' surviving spouses, children and certain other dependents. The Firefighters' Pension Board is a five member board that is created by Section 4-121 of the Pension Code and is charged by law with controlling and managing the Firefighters' Pension Fund. The Firefighters' Pension Fund derives its funds primarily from property taxes and firefighter contributions.
Terms of office are staggered and appointments shall be for three years.The fire pension fund of the Village shall be administered by a board of trustees consisting of five members: two members of the board shall be appointed by the President with the consent of the Village Board of Trustees; two members shall be active participants of the pension fund who are elected from the active participants of the fund; one member of the board shall be a person who is retired under the Fireman's Pension Fund Act of 1919.
- Byron Tull Active elected firefighter, President (2020-2023)
- Robert Greiner Active elected firefighter, Secretary (2022-2025)
- Greg Schmidt Retired elected firefighter (2021-2024)
- James Grammas Appointed
- Marimel Lim Appointed
MEETING DATES & LOCATION
Meetings of the Firefighters' Pension Board are held quarterly. Special meetings are only held, when necessary.
Location: Niles Fire Station #2, 8360 W. Dempster St., Niles, IL. 60714
The regularly scheduled meeting dates for 2022:
February 15, 2022 at 08:00am
May 25, 2022 at 08:00am
August 17, 2022 at 08:00am
November 9, 2022 at 08:00am
The regularly scheduled meeting dates for 2021:
February 18, 2021
May 13, 2021
August 17, 2021
November 9, 2021
ILLINOIS FIREFIGHTER'S PENSION INVESTMENT FUND
The Firefighters Pension Investment Fund (“FPIF”) is responsible for investing the assets of the 296 Illinois suburban and downstate firefighter pension funds, including Niles. The Trustees are fiduciaries for the participants and beneficiaries of the participating pension funds and discharge their duties solely in the interest of the fund participants and beneficiaries. . The Interim Board of Trustees was appointed by Governor Pritzker on January 31, 2020. The Board is in the process of building out its capabilities and complying with its mandate to have assets transferred by July 1, 2022.
Updated 11/9/21: The transfer of Niles Fire Pension investment assets to FPIF is complete. FPIF now manages all investment control of the Niles Firefighters' Pension Fund assets. The local Pension Board still manages day-to-day functions.
Updated 8_17_21: FPIF is scheduled to take over investment control of Niles Fire Pension assets, effective October 1, 2021 at 08:00am. The Pension Board will still manage day to day operations of the pension fund, but will no longer have any responsibility regarding investment/management of pension funds.
Updated 5_20_22: FPIF is now in full control of investment management for the Niles Fire Pension Fund. The Pension Board will still manage day to day operations of the pension fund, but will no longer have any responsibility regarding investment/management of pension funds.