Pursuant to Article 3 of the Illinois Pension Code, the Village of Niles is required to establish and administer a police pension fund, for the benefit of its police officers and of their surviving spouses, children, and certain other dependents. The Board of Trustees of the Niles Police Pension Fund shall have the exclusive control and management of the Fund.
term of the appointment is for two years.
Pursuant to Section 3-128 of the Illinois Pension Code (40 ILCS 5/3-128), a five member board of trustees shall administer the pension fund. Two members of the Board shall be appointed by the Village President with the consent of the Village Board of Trustees. Two members shall be elected from among the active participants in the Fund, and one member elected from the beneficiaries of the Fund.
Meeting notices with agendas are posted in accordance with the Open Meetings Act. Meetings of the Police Pension Board are held quarterly at the Niles Police Department, 7000 W. Touhy Avenue, Niles, IL. Special meetings are held at the call of the Chairman.