Patrick Nichting, Shawn Curry tapped for new state fire, police pension boards

Jan. 31--PEORIA -- Two local men are among the 18 people who have been nominated by Gov. JB Pritzker to serve on the interim boards that will manage the new statewide investment funds for municipal police and fire pension plans.

Patrick Nichting, the Peoria city treasurer, will serve on the Firefighters' Pension Investment Fund. He's been a trustee of both the firefighter and police pension funds in Peoria.

Shawn Curry, a sergeant in the Peoria Police Department and president of the Peoria Pension Fund, will serve on the Police Officers' Pension Investment Fund.

Last year state lawmakers passed legislation that will consolidate the 650 first responder pension plans. In a news release that accompanied the announcement, Pritzker called on the new board members to move rapidly "to begin this consolidation so that taxpayers and retirees can reap improved returns." The expectation is that the consolidated plans will boost returns by between $820 million and $2.5 billion over the next five years.

The new board members, including Nichting and Curry, are slated to serve for the coming year, after which a permanent board of trustees will be selected. Each board consists of five members who are employees in their pension fund and four members representing municipal government employers.

Those selected must be ratified by a vote of the Illinois Senate.

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