A. Salaries: The salaries of the appointees shall be such as may be fixed by appropriate action of the village board of trustees.
B. Pension Fund:
1. There is hereby established a police pension fund, in accordance with the provisions of 40 Illinois Compiled Statutes 5/3-101 et seq., to administer the retirement and pension funds of the police officers and other qualified personnel of the village.
2. Said fund will be conducted and operated in accordance with 40 Illinois Compiled Statutes 5/3-101 et seq., entitled "pensions", as it now exists or hereafter may be amended. (2016 Code)