Sen. Iris Y. Martinez
Filed: 5/5/2010
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| 1 | AMENDMENT TO HOUSE BILL 4788
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| 2 | AMENDMENT NO. ______. Amend House Bill 4788 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Illinois Pension Code is amended by | ||||||
| 5 | changing 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
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| 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
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| 16 | employees, to be elected as follows: | ||||||
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| 1 | Within 30 days after the effective date, the mayor of the | ||||||
| 2 | city shall
arrange for and hold an election. | ||||||
| 3 | One employee shall be elected for a term ending on the | ||||||
| 4 | first day in the
month of December of the first year next | ||||||
| 5 | following the effective date; one
for a term ending December | ||||||
| 6 | 1st of the following year; and one for a term
ending on | ||||||
| 7 | December 1st of the second following year. | ||||||
| 8 | The city comptroller, with the approval of the board, may | ||||||
| 9 | appoint a
designee from among employees of the city who are | ||||||
| 10 | versed in the affairs of
the comptroller's office to act in the | ||||||
| 11 | absence of the comptroller on all
matters pertaining to | ||||||
| 12 | administering the provisions of this Article. | ||||||
| 13 | The city treasurer, with the approval of the board, may | ||||||
| 14 | appoint a designee from among employees of the city who are | ||||||
| 15 | versed in the affairs of the treasurer's office to act in the | ||||||
| 16 | absence of the treasurer on all matters pertaining to | ||||||
| 17 | administering the provisions of this Article. | ||||||
| 18 | The members of a Retirement Board of a municipal | ||||||
| 19 | employees', officers',
and officials' annuity and benefit fund | ||||||
| 20 | holding office in a city at the
time this Article becomes | ||||||
| 21 | effective, including elective and ex-officio
members, shall | ||||||
| 22 | continue in office until the expiration of their terms and
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| 23 | until their respective successors are elected or appointed and | ||||||
| 24 | have
qualified. | ||||||
| 25 | An employee member who takes advantage of the early | ||||||
| 26 | retirement incentives
provided under this amendatory Act of the | ||||||
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| 1 | 93rd General Assembly may continue as
a member until the end of | ||||||
| 2 | his or her term. | ||||||
| 3 | (Source: P.A. 93-654, eff. 1-16-04.)".
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