SB2574 102ND GENERAL ASSEMBLY

LRB102 12884 RPS 18227 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB2574

Introduced 2/26/2021, by Sen. Steve McClure

SYNOPSIS AS INTRODUCED:

40 ILCS 5/16-163	from Ch. 108 1/2, par. 16-163
40 ILCS 5/16-164	from Ch. 108 1/2, par. 16-164

Amends the Downstate Teacher Article of the Illinois Pension Code. Provides that the Governor shall appoint 5 (instead of 7) persons to the Board of Trustees of the Teachers' Retirement System of the State of Illinois who are not members of the System. Makes conforming changes. Effective July 1, 2021.

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

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 Sections 16-163 and 16-164 as follows:

(40 ILCS 5/16-163) (from Ch. 108 1/2, par. 16-163)

Sec. 16-163. Board created. A board of 13 15 members constitutes the board of trustees authorized to carry out the provisions of this Article and is responsible for the general administration of the System. The board shall be known as the Board of Trustees of the Teachers' Retirement System of the State of Illinois. The board shall be composed of the Superintendent of Education, ex officio; 5 7 persons, not members of the System, to be appointed by the Governor, who shall hold no elected State office; 5 persons who, at the time of their election, are teachers as defined in Section 16-106, elected by the contributing members; and 2 annuitant members elected by the annuitants of the System, as provided in Section 16-165. The president of the board shall be appointed by the Governor from among the trustees.

(Source: P.A. 101-610, eff. 1-1-20.)

(40 ILCS 5/16-164) (from Ch. 108 1/2, par. 16-164)

Sec. 16-164. Board; appointed members; vacancies. Terms of office for the appointed members shall begin on July 15 of an even-numbered year, except that the terms of office for members appointed pursuant to this amendatory Act of the 96th General Assembly shall begin upon being confirmed by the Senate. The Governor shall appoint 2 or 3 members, whichever is applicable, as trustees with the advice and consent of the Senate in each even-numbered year who shall hold office for a term of 4 years, except that, of the members appointed pursuant to this amendatory Act of the 96th General Assembly, 3 members shall be appointed for a term ending July 14, 2012 and 3 members shall be appointed for a term ending July 14, 2014. The Governor shall appoint the additional member authorized under this amendatory Act of the 101st General Assembly with the advice and consent of the Senate for a term beginning on July 15, 2020 and ending July 14, 2022, and successors shall hold office for a term of 4 years. Each such appointee shall reside in and be a taxpayer in the territory covered by this system, shall be interested in public school welfare, and experienced and competent in financial and business management. A vacancy in the term of an appointed trustee shall be filled for the unexpired term by appointment of the Governor.

Notwithstanding any provision of this Section to the contrary, the term of office of each member of the Board appointed by the Governor who is sitting on the Board on the effective date of this amendatory Act of the 96th General Assembly is terminated on that effective date. A trustee sitting on the Board on the effective date of this amendatory Act of the 96th General Assembly may not hold over in office for more than 60 days after the effective date of this amendatory Act of the 96th General Assembly. Nothing in this Section shall prevent the Governor from making a temporary appointment or nominating a trustee holding office on the day before the effective date of this amendatory Act of the 96th General Assembly.

(Source: P.A. 101-610, eff. 1-1-20.)

Section 99. Effective date. This Act takes effect July 1, 2021.