Illinois General Assembly - Full Text of HB3004
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Full Text of HB3004  102nd General Assembly

HB3004enr 102ND GENERAL ASSEMBLY

  
  
  

 


 
HB3004 EnrolledLRB102 14774 RPS 20127 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by adding
5Section 1-109.5 as follows:
 
6    (40 ILCS 5/1-109.5 new)
7    Sec. 1-109.5. Prohibition on employment for board members.
8Except as otherwise provided in this Section and in accordance
9with Section 5-45 of the State Officials and Employees Ethics
10Act, no individual who is a board member of a pension fund,
11investment board, or retirement system may be employed by that
12pension fund, investment board, or retirement system at any
13time during his or her service and for a period of 12 months
14after he or she ceases to be a board member.
15    If a senior administrative staff position becomes vacant
16and no executive member of the staff is willing to accept the
17position, an individual serving as a board member may
18temporarily serve as an interim member of the senior
19administrative staff of the fund under the following
20conditions:
21        (1) the senior administrative staff position is vacant
22    and the board is conducting and documenting a public
23    search for a new permanent replacement who is not a member

 

 

HB3004 Enrolled- 2 -LRB102 14774 RPS 20127 b

1    of the board of trustees of the fund;
2        (2) a majority of the board of trustees of the fund
3    votes to designate a specific board member to serve in the
4    senior administrative staff position;
5        (3) the board-designated interim member of the senior
6    administrative staff does not receive any salary or
7    benefits associated with the position;
8        (4) the board-designated interim member of the senior
9    administrative staff serves for a period of not more than
10    6 months; and
11        (5) the trustee vacates his or her position as a
12    trustee while serving as an interim member of the senior
13    administrative staff.