New board members are required to attend 32 hours of initial training within 18 months of joining the board. All members are required to receive 16 hours of continuing education annually. Terms are for three years.
The Board is comprised of two active duty firefighters elected by their peers, one retired firefighter elected by retired members and two members appointed by the mayor.
There is no compensation for being on the board. The fund pays for all required training expenses. This would include travel, food, and lodging expenses if travel is required.
About the Board
The board is responsible to oversee the Fire Pension Fund. This includes directing investment activities, paying expenses, and hearing and determining applications for benefits. Acquiring a thorough working knowledge of the board's Investment Policy, the actuarial process, and Articles 1 and 4 of the Illinois Pension code is important.