A board composed of the president of the Board of Trustees, the village clerk, the village attorney, the village treasurer, the chief officer of the Fire Department, three firefighters (elected by and from the active firefighters), and one person chosen from the firefighters who have retired (for the purposes of such election, a firefighter receiving a disability pension shall be considered a retired firefighter) is hereby established. The board shall elect from its members a president and a secretary. If there are no retired firefighters in the fund, or if none is willing to serve on the board, then an additional active firefighter shall be elected to the board in lieu of the firefighter that would otherwise be elected.
Creation of the Firefighters Pension Fund
There is hereby created a Firefighter’s Pension fund in and for the village for the purpose of providing pensions for members of the village firefighter and paramedic personnel and for full-time firefighter personnel under the terms and conditions and regulations set forth in 40 ILCS 5/4-101 et seq.