Accountant advises La Grange to increase police and fire pension fund contributions
LA GRANGE – A new actuary is recommending the village contribute roughly $345,000 more to its police and fire pension funds than budgeted for next fiscal year, but a surplus from last year is expected to offset the increase.
During Monday's Village Board meeting, Todd Schroeder, of the accounting firm Lauterbach & Amen, said that a number of adjusted factors, including the mortality rate of police and firefighters, influenced his recommendation.
“We are seeing that police officers and firefighters are living longer than has generally been assumed for police officers and firefighters in Illinois in the past," Schroeder said.
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