The Riverside Police Pension Board manages the Police Pension Plan, a single-employer defined benefit pension plan that covers all sworn police personnel. The defined benefits and employee and minimum employer contribution levels are governed by Illinois Compiled Statues (40ILCS 5/3-1) and may be amended only by the Illinois legislature. The Fund is governed by a five-member pension board. Two members of the Board are appointed by the Village President, one member is elected by pension beneficiaries and two members are elected by active police employees. The Pension Board meets on a quarterly basis.