Illinois Comptroller Susana Mendoza is optimistic about the state’s pension system, stating that a new law allowing for prepayments will help improve the system’s financial condition. Mendoza made the first pension prepayment under this new law, which she believes will allow funds to generate additional investment returns. Governor J.B. Pritzker has proposed extending the funding payment plan by three years to reach a goal of 100% funding, established in 1994. The Illinois Supreme Court recently endorsed the consolidation of local police and firefighter pension systems, a move that Mendoza believes will streamline operations and reduce costs. Mendoza emphasized that her office is always looking for ways to provide more value for Illinois taxpayers.
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