Effective January 1, 2012, State law (P.A. 07-0609) requires that all Illinois Municipal Retirement Fund employers post the total compensation package of their employees. The Village is required to post this information within six (6) business days of approval of the annual budget.
There are three pension plans in the Village of Glenview:
- Police Pension Employee Retiree System (PPERS) functions for the benefit of the Village’s sworn police employees and is governed by a five-member pension board consisting of two members appointed by the Village’s President, one elected pension beneficiary and two elected police;
- Firefighters' Pension Employees Retirement System (FPERS) functions for the benefit of fire fighter employees and is governed by a five-member pension board consisting of the two Village President appointees, two elected fire employees, and one elected pension beneficiary; and
- Illinois Municipal Retirement Fund (IMRF) was established by the Illinois State Legislate in 1939 and functions for the benefit of the Village’s municipal employees. Members, employers, and annuitants elect eight trustees who govern IMRF.
The Village is required by State law to annually provide funds sufficient to accumulate the actuarial requirements of its pension fund obligations. The amounts necessary to fund the Police and Fire obligations have been determined for the Village by a qualified actuary, as described in the Illinois Pension Code. As of December 31, 2015, the Firefighters' Pension Fund Total Pension Liability ("TPL") was $113,224,508 and the Plan Fiduciary Net Position ("FNP") was $71,792,553, resulting in a plan Net Pension Liability ("NPL") of $41,431,955. As of December 31, 2015, the Police Pension Fund TPL was $92,318,605 and the FNP was $68,756,535, resulting in a plan NPL of $23,562,070.
Other full-time municipal employees are covered by the Illinois Municipal Retirement Fund (IMRF). As of December 31, 2015, the IMRF TPL was $99,288,770 and the FNP was $89,229,484, resulting in a plan NPL of $10,059,286. The IMRF annually determines the contribution rate necessary to provide full funding of the unfunded prior service costs, including interest, over a 30 year period.
Policies and benefits have been established for Village employees and are contained in the Village of Glenview Employee Handbook.
Certain employees are represented for purposes of collective bargaining by a union. There are four Collective Bargaining Units in the Village of Glenview:
Illinois Fraternal Order of Police Labor Council, Glenview Public Safety Dispatch Center
International Association of Fire Fighters, AFL-CIO, Glenview Professional Fire Fighters Association Local 4186
Illinois Fraternal Order of Police Labor Council, Patrol Officers
International Union of Operating Engineers, Local 150, Public Employees Division