Welcome

The Illinois Township Retirement Consortium (ITRC) is an exploratory initiative aimed at enhancing the quality, transparency, and oversight of township retirement plans across Illinois. 

We are currently assessing the feasibility of a collaborative consortium model that would facilitate participating townships in strengthening their 457(b) retirement plans and other supplemental retirement plans. 

This effort is in its early stages, and we are seeking interested township leaders who are eager to explore the concept and potentially serve as founding members of this collaborative retirement governance initiative.

Many township retirement plans were established years ago and may not have been reviewed recently for: 

• Investment quality
• Participant fees 
• Plan oversight and governance 
• Employee education and participation 

A collaborative retirement governance model may allow townships to: 

• Increase oversight and fiduciary structure 
• Improve investment options and reduce fees through scale 
• Simplify administration 
• Provide stronger retirement education for employees 

The purpose of this initiative is to determine whether a voluntary township consortium could provide meaningful improvements for participating communities.

To support Illinois townships by exploring and developing a standardized framework for township retirement plans that emphasizes collaborative retirement governance, promotes employee financial well-being, strengthens workforce stability, and protects public trust, including 457b retirement plans.

A public servant workforce where every employee has access to clear, well-governed retirement options, including 457b retirement plans, and where district leaders are supported by collaborative retirement governance and defensible, consistent oversight models for township retirement plans.