Full Text of HB2522 102nd General Assembly
HB2522 102ND GENERAL ASSEMBLY |
| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022 HB2522 Introduced 2/19/2021, by Rep. Stephanie A. Kifowit SYNOPSIS AS INTRODUCED: |
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Amends the Police Officers' Pension Investment Fund Article of the Illinois Pension Code. In a provision concerning the permanent board of trustees, removes language requiring that the holder of the office of chairperson alternate between certain members. Effective immediately.
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| | | PENSION IMPACT NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | | HB2522 | | LRB102 12527 RPS 17865 b |
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| 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 | 5 | | changing Section 22B-115 as follows: | 6 | | (40 ILCS 5/22B-115) | 7 | | Sec. 22B-115. Board of Trustees of the Fund. | 8 | | (a) No later than one month after the effective date of | 9 | | this amendatory Act of the 101st General Assembly or as soon | 10 | | thereafter as may be practicable, the Governor shall appoint, | 11 | | by and with the advice and consent of the Senate, a transition | 12 | | board of trustees consisting of 9 members as follows: | 13 | | (1) three members representing municipalities who are | 14 | | mayors, presidents, chief executive officers, chief | 15 | | financial officers, or other officers, executives, or | 16 | | department heads of municipalities and appointed from | 17 | | among candidates recommended by the Illinois Municipal | 18 | | League; | 19 | | (2) three members representing participants and who | 20 | | are participants, 2 of whom shall be appointed from among | 21 | | candidates recommended by a statewide fraternal | 22 | | organization representing more than 20,000 active and | 23 | | retired police officers in the State of Illinois, and one |
| | | HB2522 | - 2 - | LRB102 12527 RPS 17865 b |
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| 1 | | of whom shall be appointed from among candidates | 2 | | recommended by a benevolent association representing sworn | 3 | | police officers in the State of Illinois; | 4 | | (3) two members representing beneficiaries and who are | 5 | | beneficiaries, one of whom shall be appointed from among | 6 | | candidates recommended by a statewide fraternal | 7 | | organization representing more than 20,000 active and | 8 | | retired police officers in the State of Illinois, and one | 9 | | of whom shall be appointed from among candidates | 10 | | recommended by a benevolent association representing sworn | 11 | | police officers in the State of Illinois; and | 12 | | (4) one member who is a representative of the Illinois | 13 | | Municipal League. | 14 | | The transition board members shall serve until the initial | 15 | | permanent board members are elected and qualified. | 16 | | The transition board of trustees shall select the | 17 | | chairperson of the transition board of trustees from among the | 18 | | trustees for the duration of the transition board's tenure. | 19 | | (b) The permanent board of trustees shall consist of 9 | 20 | | members as follows: | 21 | | (1) Three members who are mayors, presidents, chief | 22 | | executive officers, chief financial officers, or other | 23 | | officers, executives, or department heads of | 24 | | municipalities that have participating pension funds and | 25 | | are elected by the mayors and presidents of municipalities | 26 | | that have participating pension funds. |
| | | HB2522 | - 3 - | LRB102 12527 RPS 17865 b |
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| 1 | | (2) Three members who are participants of | 2 | | participating pension funds and are elected by the | 3 | | participants of participating pension funds. | 4 | | (3) Two members who are beneficiaries of participating | 5 | | pension funds and are elected by the beneficiaries of | 6 | | participating pension funds. | 7 | | (4) One member recommended by the Illinois Municipal | 8 | | League who shall be appointed by the Governor with the | 9 | | advice and consent of the Senate. | 10 | | The permanent board of trustees shall select the | 11 | | chairperson of the permanent board of trustees from among the | 12 | | trustees for a term of 2 years. The holder of the office of | 13 | | chairperson shall alternate between a person elected or | 14 | | appointed under item (1) or (4) of this subsection (b) and a | 15 | | person elected under item (2) or (3) of this subsection (b). | 16 | | (c) Each trustee shall qualify by taking an oath of office | 17 | | before the Secretary of State stating that he or she will | 18 | | diligently and honestly administer the affairs of the board | 19 | | and will not violate or knowingly permit the violation of any | 20 | | provision of this Article. | 21 | | (d) Trustees shall receive no salary for service on the | 22 | | board but shall be reimbursed for travel expenses incurred | 23 | | while on business for the board according to the standards in | 24 | | effect for members of the Commission on Government Forecasting | 25 | | and Accountability. | 26 | | A municipality employing a police officer who is an |
| | | HB2522 | - 4 - | LRB102 12527 RPS 17865 b |
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| 1 | | elected or appointed trustee of the board must allow | 2 | | reasonable time off with compensation for the police officer | 3 | | to conduct official business related to his or her position on | 4 | | the board, including time for travel. The board shall notify | 5 | | the municipality in advance of the dates, times, and locations | 6 | | of this official business. The Fund shall timely reimburse the | 7 | | municipality for the reasonable costs incurred that are due to | 8 | | the police officer's absence. | 9 | | (e) No trustee shall have any interest in any brokerage | 10 | | fee, commission, or other profit or gain arising out of any | 11 | | investment directed by the board. This subsection does not | 12 | | preclude ownership by any member of any minority interest in | 13 | | any common stock or any corporate obligation in which an | 14 | | investment is directed by the board. | 15 | | (f) Notwithstanding any provision or interpretation of law | 16 | | to the contrary, any member of the transition board may also be | 17 | | elected or appointed as a member of the permanent board. | 18 | | Notwithstanding any provision or interpretation of law to | 19 | | the contrary, any trustee of a fund established under Article | 20 | | 3 of this Code may also be appointed as a member of the | 21 | | transition board or elected or appointed as a member of the | 22 | | permanent board. | 23 | | The restriction in Section 3.1 of the Lobbyist | 24 | | Registration Act shall not apply to a member of the transition | 25 | | board appointed pursuant to item (4) of subsection (a) or to a | 26 | | member of the permanent board appointed pursuant to item (4) |
| | | HB2522 | - 5 - | LRB102 12527 RPS 17865 b |
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| 1 | | of subsection (b).
| 2 | | (Source: P.A. 101-610, eff. 1-1-20.)
| 3 | | Section 99. Effective date. This Act takes effect upon | 4 | | becoming law.
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