GLEN CARBON – A new pension plan is now available for retired police officers looking to re-join the force with the Glen Carbon Police Department.
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Village trustees on Tuesday unanimously approved the adoption of a National Public Pension Fund Association (NPPFA) 401(a) Money Purchase Plan. Police Chief Todd Link shared more details of the plan at this week’s Village Board meeting.
Link described the plan as a “pension solution to any police officer currently receiving a pension benefit from the Downstate Pension Fund, or in the alternative, any police officer with 10 or more years of credible service with a different municipality in the Downstate Pension Fund.”
He added the plan requires no minimum contribution from employees and a contribution from the village worth 7.5% of the officer’s base salary, which goes into a 401(a) account.
With one recently hired officer currently eligible for the new pension plan, Link said it would retroactively take effect starting on Jan. 5, 2025. He described the new plan as an effective method for recruiting experienced officers.
“This plan, if approved, would allow us to attract very skilled officers like the one we just recently hired, who’s a 20-plus year veteran from another agency nearby,” he said.
Trustees voted 6-0 to pass the new police pension plan.
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