Public Act 095-0890
 		





SB1957 Enrolled
LRB095 16317 AMC 42341 b






    AN ACT concerning public employee benefits.

 
    Be it enacted by the People of the State of Illinois,
 
represented in the General Assembly:


 
    Section 5. The Illinois Pension Code is amended  by changing 
Section 7-174 as follows:
 



    (40 ILCS 5/7-174)  (from Ch. 108 1/2, par. 7-174)



    Sec. 7-174. Board created. 

    (a) A board of 8 members shall
constitute a board of 
trustees authorized to carry out the provisions of
this 
Article.  Each trustee shall be a participating employee of a

participating municipality or participating instrumentality or 
an annuitant
of the Fund and no person shall be eligible to 
become a trustee after January
1, 1979 who does not have at 
least 8 years of creditable service.

    (b) The board shall consist of representatives of various 
groups as
follows:


        1. 4 trustees shall be a chief executive officer, chief 
    finance
officer, or other officer, executive or department 
    head of a
participating municipality or participating 
    instrumentality, and each
such trustee shall be designated 
    as an executive trustee.


        2. 3 trustees shall be employees of a participating 
    municipality or
participating instrumentality and each 
    such trustee shall be designated
as an employee trustee.


        3. One trustee shall be an annuitant of the Fund, who 
    shall be
designated the annuitant trustee.

    (c) A person elected as a trustee shall qualify as a 
trustee, after
declaration by the board that he has been duly 
elected, upon taking and
subscribing to the constitutional oath 
of office and filing same in the
office of the Fund.

    (d) The term of office of each trustee shall begin upon 
January 1 of
the year following the year in which he is elected 
and shall continue
for a period of 5 years and until a 
successor has been elected and
qualified, or until prior 
resignation, death, incapacity or
disqualification.

    (e) Any elected trustee (other than the annuitant trustee) 
shall be
disqualified immediately upon termination of 
employment with all participating
municipalities and 
instrumentalities thereof or upon any change in status which

removes any such trustee from all employments within the group 
he represents.
The annuitant trustee shall be disqualified upon 
termination of his or her
annuity.

    (f) The trustees shall fill any vacancy in the board by 
appointment,
for the period until the next election of 
trustees, or, if the remaining
term is less than 2 years, for 
the remainder of the term, and until his
successor has been 
elected and qualified.

    (g) Trustees shall serve without compensation, but shall be

reimbursed for any reasonable expenses incurred in attending 
meetings of
the board and in performing duties on behalf of the 
Fund and for the
amount of any earnings withheld by any 
employing municipality or
participating instrumentality 
because of attendance at any board
meeting.

    (h) Each trustee other than the annuitant trustee shall be 
entitled to
one vote on any and all actions before the board;  
the annuitant trustee is
not entitled to vote on any matter.  At 
least 5 4 concurring votes
shall be necessary for every 
decision or action by the board at any of its
meetings.  No 
decision or action shall become effective unless presented and 
so
approved at a regular or duly called special meeting of the 
board.

(Source: P.A. 89-136, eff. 7-14-95.)

 

    Section 99. Effective date. This Act takes effect upon 
becoming law.