Full Text of SB1824 103rd General Assembly
SB1824enr 103RD GENERAL ASSEMBLY |
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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 Sections 1-109, 7-105, 7-135, 7-172, and 7-174 as | 6 | | follows:
| 7 | | (40 ILCS 5/1-109) (from Ch. 108 1/2, par. 1-109)
| 8 | | Sec. 1-109. Duties of fiduciaries. A fiduciary with
| 9 | | respect to a retirement system or pension fund established
| 10 | | under this Code shall discharge his or her duties with respect | 11 | | to the
retirement system or pension fund solely in the | 12 | | interest of the participants
and beneficiaries and:
| 13 | | (a) for the exclusive purpose of:
| 14 | | (1) providing benefits to participants and their | 15 | | beneficiaries; and
| 16 | | (2) defraying reasonable expenses of administering | 17 | | the retirement system
or pension fund;
| 18 | | (b) with the care, skill, prudence and diligence under | 19 | | the circumstances
then prevailing that a prudent person | 20 | | man acting in a like capacity and familiar
with such | 21 | | matters would use in the conduct of an enterprise of a like | 22 | | character
with like aims;
| 23 | | (c) by diversifying the investments of the retirement |
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| 1 | | system
or pension fund so as to minimize the risk of large | 2 | | losses, unless under
the circumstances
it is clearly | 3 | | prudent not to do so; and
| 4 | | (d) in accordance with the provisions of the Article | 5 | | of this Code
governing the retirement system or pension | 6 | | fund.
| 7 | | (Source: P.A. 102-558, eff. 8-20-21.)
| 8 | | (40 ILCS 5/7-105) (from Ch. 108 1/2, par. 7-105)
| 9 | | Sec. 7-105. "Municipality": A city, village, incorporated | 10 | | town, county,
township; a Financial Oversight Panel | 11 | | established pursuant to Article 1H of the School Code; and any | 12 | | school, park, sanitary, road , forest preserve, water, fire
| 13 | | protection, public health, river conservancy, mosquito | 14 | | abatement,
tuberculosis sanitarium, public community college | 15 | | district, or other local
district with general continuous | 16 | | power to levy taxes on the property within
such district; now | 17 | | existing or hereafter created within the State; and, for
the | 18 | | purposes of providing annuities and benefits to its employees, | 19 | | the fund
itself.
| 20 | | (Source: P.A. 97-429, eff. 8-16-11.)
| 21 | | (40 ILCS 5/7-135) (from Ch. 108 1/2, par. 7-135)
| 22 | | Sec. 7-135. Authorized agents.
| 23 | | (a) Each participating municipality and participating
| 24 | | instrumentality shall appoint an authorized agent who shall |
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| 1 | | have the
powers and duties set forth in this section. In | 2 | | absence of such
appointment, the duties of the authorized | 3 | | agent shall devolve upon the
clerk or secretary of the | 4 | | municipality or instrumentality, the township supervisor in | 5 | | the case of a township, and in the
case of township school | 6 | | trustees upon the township school treasurer.
| 7 | | (b) The authorized agent shall have the following powers | 8 | | and duties:
| 9 | | 1. To certify to the fund whether or not a given person | 10 | | is
authorized to participate in the fund;
| 11 | | 2. To certify to the fund when a participating | 12 | | employee is on a
leave of absence authorized by the | 13 | | municipality;
| 14 | | 3. To request the proper officer to cause employee | 15 | | contributions to
be withheld from earnings and transmitted | 16 | | to the fund;
| 17 | | 4. To request the proper officer to cause municipality | 18 | | contributions
to be forwarded to the fund promptly;
| 19 | | 5. To forward promptly to all participating employees | 20 | | any
communications from the fund for such employees;
| 21 | | 6. To forward promptly to the fund all applications, | 22 | | claims, reports
and other communications delivered to him | 23 | | by participating employees;
| 24 | | 7. To perform all duties related to the administration | 25 | | of this
retirement system as requested by the fund and the | 26 | | governing body of his
municipality.
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| 1 | | (c) The governing body of each participating municipality | 2 | | and
participating instrumentality may delegate any or all of | 3 | | the following
powers and duties to its authorized agent:
| 4 | | 1. To file a petition for nomination of an executive | 5 | | trustee of the
fund.
| 6 | | 2. To cast the ballot for election of an executive | 7 | | trustee of the
fund.
| 8 | | If a governing body does not authorize its agent to | 9 | | perform the
powers and duties set forth in this paragraph (c), | 10 | | they shall be
performed by the governing body itself, unless | 11 | | the governing body by
resolution duly certified to the fund | 12 | | delegates them to some other
officer or employee.
| 13 | | (d) The delivery of any communication or document by an | 14 | | employee or
a participating municipality or participating | 15 | | instrumentality to its
authorized agent shall not constitute | 16 | | delivery to the fund.
| 17 | | (e) All authorized agents appointed on or after the | 18 | | effective date of this amendatory Act of the 103rd General | 19 | | Assembly must complete a course of training regarding the | 20 | | duties and responsibilities of being an authorized agent no | 21 | | less than 3 months after his or her initial appointment. Such | 22 | | training must be provided by the Fund and made available | 23 | | online to all authorized agents no less than quarterly at no | 24 | | cost to the authorized agent or his or her employer. | 25 | | (Source: P.A. 97-328, eff. 8-12-11; 97-609, eff. 1-1-12; | 26 | | 98-218, eff. 8-9-13.)
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| 1 | | (40 ILCS 5/7-172) (from Ch. 108 1/2, par. 7-172)
| 2 | | Sec. 7-172. Contributions by participating municipalities | 3 | | and
participating instrumentalities.
| 4 | | (a) Each participating municipality and each participating
| 5 | | instrumentality shall make payment to the fund as follows:
| 6 | | 1. municipality contributions in an amount determined | 7 | | by applying
the municipality contribution rate to each | 8 | | payment of earnings paid to
each of its participating | 9 | | employees;
| 10 | | 2. an amount equal to the employee contributions | 11 | | provided by paragraph
(a) of Section 7-173, whether or not | 12 | | the employee contributions are
withheld as permitted by | 13 | | that Section;
| 14 | | 3. all accounts receivable, together with interest | 15 | | charged thereon,
as provided in Section 7-209, and any | 16 | | amounts due under subsection (a-5) of Section 7-144;
| 17 | | 4. if it has no participating employees with current | 18 | | earnings, an
amount payable which, over a closed period of | 19 | | 20 years for participating municipalities and 10 years for | 20 | | participating instrumentalities, will amortize, at the | 21 | | effective rate for
that year, any unfunded obligation. The | 22 | | unfunded obligation shall be computed as provided in | 23 | | paragraph 2 of subsection (b); | 24 | | 5. if it has fewer than 7 participating employees or a | 25 | | negative balance in its municipality reserve, the greater |
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| 1 | | of (A) an amount payable that, over a period of 20 years, | 2 | | will amortize at the effective rate for that year any | 3 | | unfunded obligation, computed as provided in paragraph 2 | 4 | | of subsection (b) or (B) the amount required by paragraph | 5 | | 1 of this subsection (a).
| 6 | | (b) A separate municipality contribution rate shall be | 7 | | determined
for each calendar year for all participating | 8 | | municipalities together
with all instrumentalities thereof. | 9 | | The municipality contribution rate
shall be determined for | 10 | | participating instrumentalities as if they were
participating | 11 | | municipalities. The municipality contribution rate shall
be | 12 | | the sum of the following percentages:
| 13 | | 1. The percentage of earnings of all the participating | 14 | | employees of all
participating municipalities and | 15 | | participating instrumentalities which, if paid
over the | 16 | | entire period of their service, will be sufficient when | 17 | | combined with
all employee contributions available for the | 18 | | payment of benefits, to provide
all annuities for | 19 | | participating employees, and the $3,000 death benefit
| 20 | | payable under Sections 7-158 and 7-164, such percentage to | 21 | | be known as the
normal cost rate.
| 22 | | 2. The percentage of earnings of the participating | 23 | | employees of each
participating municipality and | 24 | | participating instrumentalities necessary
to adjust for | 25 | | the difference between the present value of all benefits,
| 26 | | excluding temporary and total and permanent disability and |
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| 1 | | death benefits, to
be provided for its participating | 2 | | employees and the sum of its accumulated
municipality | 3 | | contributions and the accumulated employee contributions | 4 | | and the
present value of expected future employee and | 5 | | municipality contributions
pursuant to subparagraph 1 of | 6 | | this paragraph (b). This adjustment shall be
spread over a | 7 | | period determined by the Board, not to exceed 30 years for | 8 | | participating municipalities or 10 years for participating | 9 | | instrumentalities.
| 10 | | 3. The percentage of earnings of the participating | 11 | | employees of all
municipalities and participating | 12 | | instrumentalities necessary to provide
the present value | 13 | | of all temporary and total and permanent disability
| 14 | | benefits granted during the most recent year for which | 15 | | information is
available.
| 16 | | 4. The percentage of earnings of the participating | 17 | | employees of all
participating municipalities and | 18 | | participating instrumentalities
necessary to provide the | 19 | | present value of the net single sum death
benefits | 20 | | expected to become payable from the reserve established | 21 | | under
Section 7-206 during the year for which this rate is | 22 | | fixed.
| 23 | | 5. The percentage of earnings necessary to meet any | 24 | | deficiency
arising in the Terminated Municipality Reserve.
| 25 | | (c) A separate municipality contribution rate shall be | 26 | | computed for
each participating municipality or participating |
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| 1 | | instrumentality
for its sheriff's law enforcement employees.
| 2 | | A separate municipality contribution rate shall be | 3 | | computed for the
sheriff's law enforcement employees of each | 4 | | forest preserve district that
elects to have such employees. | 5 | | For the period from January 1, 1986 to
December 31, 1986, such | 6 | | rate shall be the forest preserve district's regular
rate plus | 7 | | 2%.
| 8 | | In the event that the Board determines that there is an | 9 | | actuarial
deficiency in the account of any municipality with | 10 | | respect to a person who
has elected to participate in the Fund | 11 | | under Section 3-109.1 of this Code,
the Board may adjust the | 12 | | municipality's contribution rate so as to make up
that | 13 | | deficiency over such reasonable period of time as the Board | 14 | | may determine.
| 15 | | (d) The Board may establish a separate municipality | 16 | | contribution
rate for all employees who are program | 17 | | participants employed under the
federal Comprehensive | 18 | | Employment Training Act by all of the
participating | 19 | | municipalities and instrumentalities. The Board may also
| 20 | | provide that, in lieu of a separate municipality rate for | 21 | | these
employees, a portion of the municipality contributions | 22 | | for such program
participants shall be refunded or an extra | 23 | | charge assessed so that the
amount of municipality | 24 | | contributions retained or received by the fund
for all CETA | 25 | | program participants shall be an amount equal to that which
| 26 | | would be provided by the separate municipality contribution |
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| 1 | | rate for all
such program participants. Refunds shall be made | 2 | | to prime sponsors of
programs upon submission of a claim | 3 | | therefor and extra charges shall be
assessed to participating | 4 | | municipalities and instrumentalities. In
establishing the | 5 | | municipality contribution rate as provided in paragraph
(b) of | 6 | | this Section, the use of a separate municipality contribution
| 7 | | rate for program participants or the refund of a portion of the
| 8 | | municipality contributions, as the case may be, may be | 9 | | considered.
| 10 | | (e) Computations of municipality contribution rates for | 11 | | the
following calendar year shall be made prior to the | 12 | | beginning of each
year, from the information available at the | 13 | | time the computations are
made, and on the assumption that the | 14 | | employees in each participating
municipality or participating | 15 | | instrumentality at such time will continue
in service until | 16 | | the end of such calendar year at their respective rates
of | 17 | | earnings at such time.
| 18 | | (f) Any municipality which is the recipient of State | 19 | | allocations
representing that municipality's contributions for | 20 | | retirement annuity
purposes on behalf of its employees as | 21 | | provided in Section 12-21.16 of
the Illinois Public Aid Code | 22 | | shall pay the allocations so
received to the Board for such | 23 | | purpose. Estimates of State allocations to
be received during | 24 | | any taxable year shall be considered in the
determination of | 25 | | the municipality's tax rate for that year under Section
7-171. | 26 | | If a special tax is levied under Section 7-171, none of the
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| 1 | | proceeds may be used to reimburse the municipality for the | 2 | | amount of State
allocations received and paid to the Board. | 3 | | Any multiple-county or
consolidated health department which | 4 | | receives contributions from a county
under Section 11.2 of "An | 5 | | Act in relation to establishment and maintenance
of county and | 6 | | multiple-county health departments", approved July 9, 1943,
as | 7 | | amended, or distributions under Section 3 of the Department of | 8 | | Public
Health Act, shall use these only for municipality | 9 | | contributions by the
health department.
| 10 | | (g) Municipality contributions for the several purposes | 11 | | specified
shall, for township treasurers and employees in the | 12 | | offices of the
township treasurers who meet the qualifying | 13 | | conditions for coverage
hereunder, be allocated among the | 14 | | several school districts and parts of
school districts | 15 | | serviced by such treasurers and employees in the
proportion | 16 | | which the amount of school funds of each district or part of
a | 17 | | district handled by the treasurer bears to the total amount of | 18 | | all
school funds handled by the treasurer.
| 19 | | From the funds subject to allocation among districts and | 20 | | parts of
districts pursuant to the School Code, the trustees | 21 | | shall withhold the
proportionate share of the liability for | 22 | | municipality contributions imposed
upon such districts by this | 23 | | Section, in respect to such township treasurers
and employees | 24 | | and remit the same to the Board.
| 25 | | The municipality contribution rate for an educational | 26 | | service center shall
initially be the same rate for each year |
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| 1 | | as the regional office of
education or school district
which | 2 | | serves as its administrative agent. When actuarial data become
| 3 | | available, a separate rate shall be established as provided in | 4 | | subparagraph
(i) of this Section.
| 5 | | The municipality contribution rate for a public agency, | 6 | | other than a
vocational education cooperative, formed under | 7 | | the Intergovernmental
Cooperation Act shall initially be the | 8 | | average rate for the municipalities
which are parties to the | 9 | | intergovernmental agreement. When actuarial data
become | 10 | | available, a separate rate shall be established as provided in
| 11 | | subparagraph (i) of this Section.
| 12 | | (h) Each participating municipality and participating
| 13 | | instrumentality shall make the contributions in the amounts | 14 | | provided in
this Section in the manner prescribed from time to | 15 | | time by the Board and
all such contributions shall be | 16 | | obligations of the respective
participating municipalities and | 17 | | participating instrumentalities to this
fund. The failure to | 18 | | deduct any employee contributions shall not
relieve the | 19 | | participating municipality or participating instrumentality
of | 20 | | its obligation to this fund. Delinquent payments of | 21 | | contributions
due under this Section may, with interest, be | 22 | | recovered by civil action
against the participating | 23 | | municipalities or participating
instrumentalities. | 24 | | Municipality contributions, other than the amount
necessary | 25 | | for employee contributions, for
periods of service by | 26 | | employees from whose earnings no deductions were made
for |
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| 1 | | employee contributions to the fund, may be charged to the | 2 | | municipality
reserve for the municipality or participating | 3 | | instrumentality.
| 4 | | (i) Contributions by participating instrumentalities shall | 5 | | be
determined as provided herein except that the percentage | 6 | | derived under
subparagraph 2 of paragraph (b) of this Section, | 7 | | and the amount payable
under subparagraph 4 of paragraph (a) | 8 | | of this Section, shall be based on
an amortization period of 10 | 9 | | years.
| 10 | | (j) Notwithstanding the other provisions of this Section, | 11 | | the additional unfunded liability accruing as a result of | 12 | | Public Act 94-712
shall be amortized over a period of 30 years | 13 | | beginning on January 1 of the
second calendar year following | 14 | | the calendar year in which Public Act 94-712 takes effect, | 15 | | except that the employer may provide for a longer amortization | 16 | | period by adopting a resolution or ordinance specifying a | 17 | | 35-year or 40-year period and submitting a certified copy of | 18 | | the ordinance or resolution to the fund no later than June 1 of | 19 | | the calendar year following the calendar year in which Public | 20 | | Act 94-712 takes effect.
| 21 | | (k) If the amount of a participating employee's reported | 22 | | earnings for any of the 12-month periods used to determine the | 23 | | final rate of earnings exceeds the employee's 12-month | 24 | | reported earnings with the same employer for the previous year | 25 | | by the greater of 6% or 1.5 times the annual increase in the | 26 | | Consumer Price Index-U, as established by the United States |
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| 1 | | Department of Labor for the preceding September, the | 2 | | participating municipality or participating instrumentality | 3 | | that paid those earnings shall pay to the Fund, in addition to | 4 | | any other contributions required under this Article, the | 5 | | present value of the increase in the pension resulting from | 6 | | the portion of the increase in reported earnings that is in | 7 | | excess of the greater of 6% or 1.5 times the annual increase in | 8 | | the Consumer Price Index-U, as determined by the Fund. This | 9 | | present value shall be computed on the basis of the actuarial | 10 | | assumptions and tables used in the most recent actuarial | 11 | | valuation of the Fund that is available at the time of the | 12 | | computation. | 13 | | Whenever it determines that a payment is or may be | 14 | | required under this subsection (k), the fund shall calculate | 15 | | the amount of the payment and bill the participating | 16 | | municipality or participating instrumentality for that amount. | 17 | | The bill shall specify the calculations used to determine the | 18 | | amount due. If the participating municipality or participating | 19 | | instrumentality disputes the amount of the bill, it may, | 20 | | within 30 days after receipt of the bill, apply to the fund in | 21 | | writing for a recalculation. The application must specify in | 22 | | detail the grounds of the dispute. Upon receiving a timely | 23 | | application for recalculation, the fund shall review the | 24 | | application and, if appropriate, recalculate the amount due.
| 25 | | The participating municipality and participating | 26 | | instrumentality contributions required under this subsection |
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| 1 | | (k) may be paid in the form of a lump sum within 90 days after | 2 | | receipt of the bill. If the participating municipality and | 3 | | participating instrumentality contributions are not paid | 4 | | within 90 days after receipt of the bill, then interest will be | 5 | | charged at a rate equal to the fund's annual actuarially | 6 | | assumed rate of return on investment compounded annually from | 7 | | the 91st day after receipt of the bill. Payments must be | 8 | | concluded within 3 years after receipt of the bill by the | 9 | | participating municipality or participating instrumentality. | 10 | | When assessing payment for any amount due under this | 11 | | subsection (k), the fund shall exclude earnings increases | 12 | | resulting from overload or overtime earnings. | 13 | | When assessing payment for any amount due under this | 14 | | subsection (k), the fund shall exclude earnings increases | 15 | | resulting from payments for unused vacation time, but only for | 16 | | payments for unused vacation time made in the final 3 months of | 17 | | the final rate of earnings period. | 18 | | When assessing payment for any amount due under this | 19 | | subsection (k), the fund shall also exclude earnings increases | 20 | | attributable to standard employment promotions resulting in | 21 | | increased responsibility and workload. | 22 | | When assessing payment for any amount due under this | 23 | | subsection (k), the fund shall exclude reportable earnings | 24 | | increases resulting from periods where the member was paid | 25 | | through workers' compensation. | 26 | | This subsection (k) does not apply to earnings increases |
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| 1 | | due to amounts paid as required by federal or State law or | 2 | | court mandate or to earnings increases due to the | 3 | | participating employee returning to the regular number of | 4 | | hours worked after having a temporary reduction in the number | 5 | | of hours worked. | 6 | | This subsection (k) does not apply to earnings increases | 7 | | paid to individuals under contracts or collective bargaining | 8 | | agreements entered into, amended, or renewed before January 1, | 9 | | 2012 (the effective date of Public Act 97-609), earnings | 10 | | increases paid to members who are 10 years or more from | 11 | | retirement eligibility, or earnings increases resulting from | 12 | | an increase in the number of hours required to be worked. | 13 | | When assessing payment for any amount due under this | 14 | | subsection (k), the fund shall also exclude earnings | 15 | | attributable to personnel policies adopted before January 1, | 16 | | 2012 (the effective date of Public Act 97-609) as long as those | 17 | | policies are not applicable to employees who begin service on | 18 | | or after January 1, 2012 (the effective date of Public Act | 19 | | 97-609). | 20 | | The change made to this Section by Public Act 100-139 is a | 21 | | clarification of existing law and is intended to be | 22 | | retroactive to January 1, 2012 (the effective date of Public | 23 | | Act 97-609). | 24 | | (Source: P.A. 102-849, eff. 5-13-22.)
| 25 | | (40 ILCS 5/7-174) (from Ch. 108 1/2, par. 7-174)
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| 1 | | Sec. 7-174. Board created.
| 2 | | (a) A board of 8 members shall
constitute a board of | 3 | | trustees authorized to carry out the provisions of
this | 4 | | Article. Each trustee shall be a participating employee of a
| 5 | | participating municipality or participating instrumentality or | 6 | | an annuitant
of the Fund and no person shall be eligible to | 7 | | become a trustee after January
1, 1979 who does not have the | 8 | | minimum service credit in this Fund to qualify for a pension.
| 9 | | (b) The board shall consist of representatives of various | 10 | | groups as
follows:
| 11 | | 1. 4 trustees shall be a chief executive officer, | 12 | | chief finance
officer, or other officer, executive or | 13 | | department head of a
participating municipality or | 14 | | participating instrumentality, and each
such trustee shall | 15 | | be designated as an executive trustee.
| 16 | | 2. 3 trustees shall be employees of a participating | 17 | | municipality or
participating instrumentality and each | 18 | | such trustee shall be designated
as an employee trustee. A | 19 | | person who meets the criteria to be an executive trustee | 20 | | may not serve as an employee trustee.
| 21 | | 3. One trustee shall be an annuitant of the Fund, who | 22 | | shall be
designated the annuitant trustee.
| 23 | | (c) A person elected as a trustee shall qualify as a | 24 | | trustee, after
declaration by the board that he has been duly | 25 | | elected, upon taking and
subscribing to the constitutional | 26 | | oath of office and filing same in the
office of the Fund.
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| 1 | | (d) The term of office of each trustee shall begin upon | 2 | | January 1 of
the year following the year in which he is elected | 3 | | and shall continue
for a period of 5 years and until a | 4 | | successor has been elected and
qualified, or until prior | 5 | | resignation, death, incapacity or
disqualification.
| 6 | | (e) Any elected trustee (other than the annuitant trustee) | 7 | | shall be
disqualified immediately upon termination of | 8 | | employment with all participating
municipalities and | 9 | | instrumentalities thereof or upon any change in status which
| 10 | | removes any such trustee from all employments within the group | 11 | | he represents.
The annuitant trustee shall be disqualified | 12 | | upon termination of his or her
annuity.
| 13 | | (e-5) Notwithstanding any other provision, an elected | 14 | | trustee shall not be considered disqualified due to | 15 | | termination of participation under subsection (e) if: | 16 | | (1) he or she thereafter begins participation with a | 17 | | different participating employer; | 18 | | (2) there is no gap in service credit established | 19 | | under this Article; and | 20 | | (3) the trustee continues to meet all eligibility | 21 | | requirements under subsection (b) for the same type of | 22 | | trustee position. | 23 | | (f) The trustees shall fill any vacancy in the board by | 24 | | appointment,
for the period until the next election of | 25 | | trustees, or, if the remaining
term is less than 2 years, for | 26 | | the remainder of the term, and until his
successor has been |
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| 1 | | elected and qualified.
| 2 | | (g) Trustees shall serve without compensation, but shall | 3 | | be
reimbursed for any reasonable expenses incurred in | 4 | | attending meetings of
the board and in performing duties on | 5 | | behalf of the Fund and for the
amount of any earnings withheld | 6 | | by any employing municipality or
participating instrumentality | 7 | | because of attendance at any board
meeting.
| 8 | | (h) Each trustee shall be entitled to
one vote on any and | 9 | | all actions before the board. At least 5 concurring votes
| 10 | | shall be necessary for every decision or action by the board at | 11 | | any of its
meetings. No decision or action shall become | 12 | | effective unless presented and so
approved at a regular or | 13 | | duly called special meeting of the board.
| 14 | | (Source: P.A. 102-479, eff. 8-20-21.)
| 15 | | Section 99. Effective date. This Act takes effect upon | 16 | | becoming law, except that the changes to Section 7-135 of the | 17 | | Illinois Pension Code take effect January 1, 2024.
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