SB1401 Engrossed LRB096 10794 AMC 21003 b

1     AN ACT concerning 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 3-145 as follows:
 
6     (40 ILCS 5/3-145)  (from Ch. 108 1/2, par. 3-145)
7     Sec. 3-145. Referendum in municipalities less than 5,000.
8     (a) This Article shall not be effective in any municipality
9 having a population of less than 5,000 unless the proposition
10 to adopt the Article is submitted to and approved by the voters
11 of the municipality in the manner herein provided.
12     Whenever the electors of the municipality, equal in number
13 to 5% of the number of legal votes cast at the last preceding
14 general municipal election, petition the city, village or town
15 clerk to submit the proposition whether that municipality shall
16 adopt this Article, the officer to whom the petition is
17 addressed shall certify the proposition to the proper election
18 officials who shall submit the proposition in accordance with
19 the general election law at a regular election in the
20 municipality provided that notice of the referendum, if held
21 before July 1, 1999, has been given in accordance with the
22 provisions of Section 12-5 of the Election Code in effect at
23 the time of the bond referendum, at least 10 and not more than

 

 

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1 45 days before the date of the election, notwithstanding the
2 time for publication otherwise imposed by Section 12-5. Notices
3 required in connection with the submission of public questions
4 on or after July 1, 1999 shall be as set forth in Section 12-5
5 of the Election Code. If the proposition is not adopted at that
6 election, it may be submitted in like manner at any regular
7 election thereafter. The proposition shall be substantially in
8 the following form:
9 -------------------------------------------------------------
10     Shall the city (or village or
11 incorporated town) of.... adopt           YES
12 Article 3 of the "Illinois Pension    -----------------------
13 Code", pertaining to the creation         NO
14 of a police pension fund?
15 -------------------------------------------------------------
16 If a majority of the votes cast on the proposition is for the
17 proposition, this Article is adopted in that municipality.
18     (b) For a period of 60 days after the effective date of
19 this amendatory Act of the 96th General Assembly, if a
20 municipality having a population of less than 5,000 has adopted
21 this Article in accordance with the provisions of subsection
22 (a), the municipality may elect to terminate participation
23 under this Article if all of the following conditions are met:
24         (1) An independent auditor certifies that the fund
25     created under this Article has no liabilities and there are
26     no members or participants in the fund and no beneficiaries

 

 

SB1401 Engrossed - 3 - LRB096 10794 AMC 21003 b

1     entitled to benefits under the fund.
2         (2) The corporate authorities of the municipality, by
3     ordinance, approve the closing of the fund.
4     If the conditions of this subsection (b) are met and the
5 closed fund contains assets, those assets shall be transferred
6 to the municipality for its general corporate purposes.
7     If a municipality that terminates participation under this
8 Article in accordance with this subsection (b) wants to
9 reinstate the fund, then the proposition to re-adopt the
10 Article must be submitted to and approved by the voters of the
11 municipality in the manner provided in subsection (a).
12 (Source: P.A. 90-812, eff. 1-26-99; 91-57, eff. 6-30-99.)
 
13     Section 99. Effective date. This Act takes effect upon
14 becoming law.