HB4788 Enrolled LRB096 15811 AMC 31052 b

1     AN ACT concerning the public employee benefits.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 5. The Illinois Pension Code is amended by changing
5 Section 8-192 as follows:
 
6     (40 ILCS 5/8-192)  (from Ch. 108 1/2, par. 8-192)
7     Sec. 8-192. Board created. A board of 5 members shall
8 constitute a Board of Trustees authorized to carry out the
9 provisions of this Article. The board shall be known as the
10 Retirement Board of the Municipal Employees', Officers', and
11 Officials' Annuity and Benefit Fund of the city, or for the
12 sake of brevity may also be known and referred to as the
13 Retirement Board of the Municipal Employees' Annuity and
14 Benefit Fund of such city. The board shall consist of the city
15 comptroller, the city treasurer, and 3 members who shall be
16 employees, to be elected as follows:
17     Within 30 days after the effective date, the mayor of the
18 city shall arrange for and hold an election.
19     One employee shall be elected for a term ending on the
20 first day in the month of December of the first year next
21 following the effective date; one for a term ending December
22 1st of the following year; and one for a term ending on
23 December 1st of the second following year.

 

 

HB4788 Enrolled - 2 - LRB096 15811 AMC 31052 b

1     The city comptroller, with the approval of the board, may
2 appoint a designee from among employees of the city who are
3 versed in the affairs of the comptroller's office to act in the
4 absence of the comptroller on all matters pertaining to
5 administering the provisions of this Article.
6     The city treasurer, with the approval of the board, may
7 appoint a designee from among employees of the city who are
8 versed in the affairs of the treasurer's office to act in the
9 absence of the treasurer on all matters pertaining to
10 administering the provisions of this Article.
11     The members of a Retirement Board of a municipal
12 employees', officers', and officials' annuity and benefit fund
13 holding office in a city at the time this Article becomes
14 effective, including elective and ex-officio members, shall
15 continue in office until the expiration of their terms and
16 until their respective successors are elected or appointed and
17 have qualified.
18     An employee member who takes advantage of the early
19 retirement incentives provided under this amendatory Act of the
20 93rd General Assembly may continue as a member until the end of
21 his or her term.
22 (Source: P.A. 93-654, eff. 1-16-04.)