HB4788 Enrolled

LRB096 15811 AMC 31052 b





  
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    AN ACT concerning the public employee benefits.
  
 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:
  


 
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    Section 5. The Illinois Pension Code is amended  by changing 
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Section 8-192 as follows:
 
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    (40 ILCS 5/8-192)  (from Ch. 108 1/2, par. 8-192)
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    Sec. 8-192. Board created. A board of 5 members shall 
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constitute a Board of Trustees authorized to
carry out the 
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provisions of this Article. The board shall be known as the

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Retirement Board of the Municipal Employees', Officers', and 
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Officials'
Annuity and Benefit Fund of the city, or for the 
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sake of brevity may also
be known and referred to as the 
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Retirement Board of the Municipal
Employees' Annuity and 
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Benefit Fund of such city. The board shall consist
of the city 
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comptroller, the city treasurer, and 3 members who shall be

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employees, to be elected as follows:
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    Within 30 days after the effective date, the mayor of the 
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city shall
arrange for and hold an election.
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    One employee shall be elected for a term ending on the 
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first day in the
month of December of the first year next 
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following the effective date; one
for a term ending December 
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1st of the following year; and one for a term
ending on 
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December 1st of the second following year.
 


 






HB4788 Enrolled
- 2 -
LRB096 15811 AMC 31052 b




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    The city comptroller, with the approval of the board, may 
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appoint a
designee from among employees of the city who are 
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versed in the affairs of
the comptroller's office to act in the 
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absence of the comptroller on all
matters pertaining to 
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administering the provisions of this Article.
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    The city treasurer, with the approval of the board, may 
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appoint a designee from among employees of the city who are 
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versed in the affairs of the treasurer's office to act in the 
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absence of the treasurer on all matters pertaining to 
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administering the provisions of this Article. 
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    The members of a Retirement Board of a municipal 
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employees', officers',
and officials' annuity and benefit fund 
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holding office in a city at the
time this Article becomes 
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effective, including elective and ex-officio
members, shall 
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continue in office until the expiration of their terms and

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until their respective successors are elected or appointed and 
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have
qualified.
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    An employee member who takes advantage of the early 
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retirement incentives
provided under this amendatory Act of the 
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93rd General Assembly may continue as
a member until the end of 
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his or her term.
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(Source: P.A. 93-654, eff. 1-16-04.)