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90_HB0846
40 ILCS 5/7-174 from Ch. 108 1/2, par. 7-174
40 ILCS 5/7-175.1 from Ch. 108 1/2, par. 7-175.1
40 ILCS 5/8-193.1 new
40 ILCS 5/9-186.1 new
40 ILCS 5/14-134 from Ch. 108 1/2, par. 14-134
40 ILCS 5/14-134.1 from Ch. 108 1/2, par. 14-134.1
40 ILCS 5/15-159 from Ch. 108 1/2, par. 15-159
40 ILCS 5/15-159.1 new
40 ILCS 5/22A-109 from Ch. 108 1/2, par. 22A-109
Amends the Illinois Pension Code. Specifies the means of
electing trustees of the Illinois Municipal Retirement Fund
(IMRF), Chicago Municipal Employee, and Cook County pension
funds and the State Universities Retirement System; also
grants access to mailing lists of participants to candidates
for the office of trustee and to employee and labor
organizations for election purposes. Amends the State
Universities Article of the Pension Code to replace 6
appointed members of the Board with elected members;
reconstitutes the Board on July 1, 1999. Amends the State
Employee Article of the Pension Code to replace 2 appointed
members of the Board with elected members. Amends the IMRF
Article of the Pension Code to add a second annuitant member
to the Board and gives both annuitant trustees the right to
vote on Board business. Amends the State Board of Investment
Article of the Pension Code to require one of the appointed
members of the Board to be a labor union representative.
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1 AN ACT to amend the Illinois Pension Code by changing
2 Sections 7-141, 7-175.1, 14-134, 14-134.1, 15-159, and
3 22A-109 and adding Sections 8-193.1, 9-186.1, and 15-159.1.
4 Be it enacted by the People of the State of Illinois,
5 represented in the General Assembly:
6 Section 5. The Illinois Pension Code is amended by
7 changing Sections 7-141, 7-175.1, 14-134, 14-134.1, 15-159,
8 and 22A-109 and adding Sections 8-193.1, 9-186.1, and
9 15-159.1 as follows:
10 (40 ILCS 5/7-174) (from Ch. 108 1/2, par. 7-174)
11 Sec. 7-174. Board created.
12 (a) A board of 9 8 members shall constitute a board of
13 trustees authorized to carry out the provisions of this
14 Article. Each trustee shall be a participating employee of a
15 participating municipality or participating instrumentality
16 or an annuitant of the Fund and no person shall be eligible
17 to become a trustee after January 1, 1979 who does not have
18 at least 8 years of creditable service.
19 (b) The board shall consist of representatives of
20 various groups as follows:
21 1. 4 trustees shall be a chief executive officer,
22 chief finance officer, or other officer, executive or
23 department head of a participating municipality or
24 participating instrumentality, and each such trustee
25 shall be designated as an executive trustee.
26 2. 3 trustees shall be employees of a participating
27 municipality or participating instrumentality and each
28 such trustee shall be designated as an employee trustee.
29 3. 2 trustees One trustee shall be annuitants an
30 annuitant of the Fund, each of whom who shall be
31 designated an the annuitant trustee.
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1 (c) A person elected as a trustee shall qualify as a
2 trustee, after declaration by the board that he has been duly
3 elected, upon taking and subscribing to the constitutional
4 oath of office and filing same in the office of the Fund.
5 (d) The term of office of each trustee shall begin upon
6 January 1 of the year following the year in which he is
7 elected and shall continue for a period of 5 years and until
8 a successor has been elected and qualified, or until prior
9 resignation, death, incapacity or disqualification.
10 (e) Any elected trustee (other than the annuitant
11 trustee) shall be disqualified immediately upon termination
12 of employment with all participating municipalities and
13 instrumentalities thereof or upon any change in status which
14 removes any such trustee from all employments within the
15 group he represents. An The annuitant trustee shall be
16 disqualified upon termination of his or her annuity.
17 (f) The trustees shall fill any vacancy in the board by
18 appointment, for the period until the next election of
19 trustees, or, if the remaining term is less than 2 years, for
20 the remainder of the term, and until his successor has been
21 elected and qualified.
22 (g) Trustees shall serve without compensation, but shall
23 be reimbursed for any reasonable expenses incurred in
24 attending meetings of the board and in performing duties on
25 behalf of the Fund and for the amount of any earnings
26 withheld by any employing municipality or participating
27 instrumentality because of attendance at any board meeting.
28 (h) Each trustee other than the annuitant trustee shall
29 be entitled to one vote on any and all actions before the
30 board; the annuitant trustee is not entitled to vote on any
31 matter. At least 5 4 concurring votes shall be necessary for
32 every decision or action by the board at any of its meetings.
33 No decision or action shall become effective unless presented
34 and so approved at a regular or duly called special meeting
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1 of the board.
2 (Source: P.A. 89-136, eff. 7-14-95.)
3 (40 ILCS 5/7-175.1) (from Ch. 108 1/2, par. 7-175.1)
4 Sec. 7-175.1. Election of employee and annuitant
5 trustees.
6 (a) The board shall prepare and send ballots and ballot
7 envelopes to the employees and annuitants eligible to vote as
8 of September of that year. The ballots shall contain the
9 names of all candidates in alphabetical order and an
10 appropriate place where a name may be written in on the
11 ballot. The ballot envelope shall have on the outside a form
12 of certificate stating that the person voting the ballot is a
13 participating employee or annuitant entitled to vote.
14 (b) Employees and annuitants, upon receipt of the
15 ballot, shall vote the ballot and place it in the ballot
16 envelope, seal the envelope, execute the certificate thereon
17 and return the ballot to the Fund.
18 (c) The board shall set a final date for ballot return,
19 and ballots received prior to that date in a ballot envelope
20 with a properly executed certificate and properly voted,
21 shall be valid ballots.
22 (d) The board shall set a day for counting the ballots
23 and name judges and clerks of election to conduct the count
24 of ballots, and shall make any rules and regulations
25 necessary for the conduct of the count.
26 (e) Candidates for the office of trustee, and employee
27 and labor organizations, shall have access, at their own
28 expense, to the Fund's employee mailing list for election
29 purposes.
30 (Source: P.A. 89-136, eff. 7-14-95.)
31 (40 ILCS 5/8-193.1 new)
32 Sec. 8-193.1. Election of employee trustees.
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1 (a) Election of employee trustees shall be by mail
2 ballot. The board shall prepare and send ballots and ballot
3 envelopes to the employees eligible to vote as of September 1
4 of the year of the election. The ballots shall contain the
5 names of all candidates in alphabetical order and an
6 appropriate place where a name may be written in on the
7 ballot. The ballot envelope shall have on the outside a form
8 of certificate stating that the person voting the ballot is a
9 participating employee entitled to vote.
10 (b) Persons wishing to vote shall vote the ballot and
11 place it in the ballot envelope, seal the envelope, execute
12 the certificate on the envelope, and return the ballot to the
13 fund.
14 (c) The board shall set a final date for ballot return,
15 and ballots received prior to that date in a ballot envelope
16 with a properly executed certificate and properly voted,
17 shall be valid ballots.
18 (d) The board shall set a day for counting ballots and
19 name judges and clerks of election to conduct the count of
20 ballots, and shall make any rules and regulations that may be
21 necessary for the conduct of the count.
22 (e) Candidates for the office of trustee, and employee
23 and labor organizations, shall have access, at their own
24 expense, to the Fund's employee mailing list for election
25 purposes.
26 (40 ILCS 5/9-186.1 new)
27 Sec. 9-186.1. Election of trustees.
28 (a) Election of trustees shall be by mail ballot. The
29 board shall prepare and send ballots and ballot envelopes to
30 the persons eligible to vote as of September 1 of the year of
31 the election. The ballots shall contain the names of all
32 candidates of the constituency for which the person is
33 eligible to vote, in alphabetical order, and an appropriate
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1 place where a name may be written in on the ballot. The
2 ballot envelope shall have on the outside a form of
3 certificate stating that the person voting the ballot is a
4 member of the specified constituency and is entitled to vote.
5 (b) Persons wishing to vote shall vote the ballot and
6 place it in the ballot envelope, seal the envelope, execute
7 the certificate on the envelope, and return the ballot to the
8 fund.
9 (c) The board shall set a final date for ballot return,
10 and ballots received prior to that date in a ballot envelope
11 with a properly executed certificate and properly voted,
12 shall be valid ballots.
13 (d) The board shall set a day for counting ballots and
14 name judges and clerks of election to conduct the count of
15 ballots, and shall make any rules and regulations that may be
16 necessary for the conduct of the count.
17 (e) Candidates for the office of trustee, and employee
18 and labor organizations, shall have access, at their own
19 expense, to the Fund's employee and annuitant mailing lists
20 for election purposes.
21 (40 ILCS 5/14-134) (from Ch. 108 1/2, par. 14-134)
22 Sec. 14-134. Board created. The retirement system
23 created by this Article shall be a trust, separate and
24 distinct from all other entities. The responsibility for the
25 operation of the system and for making effective this Article
26 is vested in a board of trustees.
27 The board shall consist of 7 trustees, as follows:
28 (a) the Director of the Bureau of the Budget; (b) the
29 Comptroller; (c) one trustee, not a State employee, who shall
30 be Chairman, to be appointed by the Governor for a 5 year
31 term; (d) until July 1, 1998, two members of the system, one
32 of whom shall be an annuitant age 60 or over, having at least
33 8 years of creditable service, to be appointed by the
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1 Governor for terms of 5 years; (e) one member of the system
2 until July 1, 1998, and thereafter 2 members of the system,
3 having at least 8 years of creditable service, to be elected
4 from the contributing membership of the system by the
5 contributing members as provided in Section 14-134.1; (f) one
6 annuitant of the system until July 1, 1998, and thereafter 2
7 annuitants of the system, who have has been annuitants an
8 annuitant for at least one full year, to be elected from and
9 by the annuitants of the system, as provided in Section
10 14-134.1.
11 The Director of the Bureau of the Budget and the
12 Comptroller shall be ex-officio members and shall serve as
13 trustees during their respective terms of office, except that
14 each of them may designate another officer or employee from
15 the same agency to serve in his or her place. However, no
16 ex-officio member may designate a different proxy within one
17 year after designating a proxy unless the person last so
18 designated has become ineligible to serve in that capacity.
19 Except for the elected trustees, any vacancy in the office of
20 trustee shall be filled in the same manner as the office was
21 filled previously.
22 A trustee shall serve until a successor qualifies, except
23 that a trustee who is a contributing member of the system
24 shall be disqualified as a trustee immediately upon
25 terminating service with the State.
26 Each trustee is entitled to one vote on the board, and 4
27 trustees shall constitute a quorum for the transaction of
28 business. The affirmative votes of a majority of the
29 trustees present, but at least 3 trustees, shall be necessary
30 for action by the board at any meeting. The board's action
31 of July 22, 1986, by which it amended the bylaws of the
32 system to increase the number of affirmative votes required
33 for board action from 3 to 4 (in response to Public Act
34 84-1028, which increased the number of trustees from 5 to 7),
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1 and the board's rejection, between that date and the
2 effective date of this amendatory Act of 1993, of proposed
3 actions not receiving at least 4 affirmative votes, are
4 hereby validated.
5 The trustees shall serve without compensation, but shall
6 be reimbursed from the funds of the system for all necessary
7 expenses incurred through service on the board.
8 Each trustee shall take an oath of office that he or she
9 will diligently and honestly administer the affairs of the
10 system, and will not knowingly violate or willfully permit
11 the violation of any of the provisions of law applicable to
12 the system. The oath shall be subscribed to by the trustee
13 making it, certified by the officer before whom it is taken,
14 and filed with the Secretary of State. A trustee shall
15 qualify for membership on the board when the oath has been
16 approved by the board.
17 (Source: P.A. 87-1265.)
18 (40 ILCS 5/14-134.1) (from Ch. 108 1/2, par. 14-134.1)
19 Sec. 14-134.1. Board; elected members; vacancies. The 2
20 elected trustees shall be elected, beginning in 1986 and
21 every 5 years thereafter, for a term of 5 years beginning
22 July 15 next following their election. The 2 elected
23 trustees created by this amendatory Act of 1997 shall first
24 be elected in 1998. Elections shall be held on May 1, or on
25 May 2 when May 1 falls on Sunday. Candidates for the
26 contributing trustee shall be nominated by petitions in
27 writing, signed by not less than 400 contributors with their
28 addresses shown opposite their names. Candidates for the
29 annuitant trustee shall be nominated by petitions in writing,
30 signed by not less than 100 annuitants with their addresses
31 shown opposite their names.
32 If there are more qualified nominees for a particular
33 class of trustee than the number of positions to be filled is
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1 more than one qualified nominee for either elected trustee,
2 the board shall conduct a secret ballot election by mail for
3 that class of trustee, in accordance with rules as
4 established by the board. Elections shall be held by class
5 of trustee rather than by individual position. If there are
6 2 positions of a particular class of trustee to be filled at
7 an election, the 2 nominees for that class of trustee with
8 the highest numbers of votes shall be declared elected.
9 If there are not more qualified nominees for a particular
10 class of trustee than the number of positions to be filled,
11 an election is only one qualified person nominated by
12 petition for either trustee, the election as required by this
13 Section shall not be conducted for that class of trustee and
14 the board shall declare the nominees for that class of
15 trustee such nominee duly elected.
16 A vacancy occurring in the elective membership of the
17 board shall be filled for the unexpired term by the board.
18 (Source: P.A. 84-1028.)
19 (40 ILCS 5/15-159) (from Ch. 108 1/2, par. 15-159)
20 Sec. 15-159. Board created. A board of trustees
21 constituted as provided in this Section shall administer this
22 System. The board shall be known as the Board of Trustees of
23 the State Universities Retirement System.
24 (b) Until July 1, 1995, the Board of Trustees shall be
25 constituted as follows:
26 Two trustees shall be members of the Board of Trustees of
27 the University of Illinois, one shall be a member of the
28 Board of Trustees of Southern Illinois University, one shall
29 be a member of the Board of Trustees of Chicago State
30 University, one shall be a member of the Board of Trustees of
31 Eastern Illinois University, one shall be a member of the
32 Board of Trustees of Governors State University, one shall be
33 a member of the Board of Trustees of Illinois State
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1 University, one shall be a member of the Board of Trustees of
2 Northeastern Illinois University, one shall be a member of
3 the Board of Trustees of Northern Illinois University, one
4 shall be a member of the Board of Trustees of Western
5 Illinois University, and one shall be a member of the
6 Illinois Community College Board, selected in each case by
7 their respective boards, and 2 shall be participants of the
8 system appointed by the Governor for a 6 year term with the
9 first appointment made pursuant to this amendatory Act of
10 1984 to be effective September 1, 1985, and one shall be a
11 participant appointed by the Illinois Community College Board
12 for a 6 year term, and one shall be a participant appointed
13 by the Board of Trustees of the University of Illinois for a
14 6 year term, and one shall be a participant or annuitant of
15 the system who is a senior citizen age 60 or older appointed
16 by the Governor for a 6 year term with the first appointment
17 to be effective September 1, 1985.
18 The terms of all trustees holding office under this
19 subsection (b) on June 30, 1995 shall terminate at the end of
20 that day and the Board shall thereafter be constituted as
21 provided in subsection (c).
22 (c) Beginning July 1, 1995, the Board of Trustees shall
23 be constituted as follows:
24 The Board shall consist of 9 trustees appointed by the
25 Governor. Two of the trustees, designated at the time of
26 appointment, shall be participants of the System. Two of the
27 trustees, designated at the time of appointment, shall be
28 annuitants of the System who are receiving retirement
29 annuities under this Article. The 5 remaining trustees may,
30 but need not, be participants or annuitants of the System.
31 The term of office of trustees appointed under this
32 subsection (c) shall be 6 years, beginning on July 1.
33 However, of the initial trustees appointed under this
34 subsection (c), 3 shall be appointed for terms of 2 years, 3
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1 shall be appointed for terms of 4 years, and 3 shall be
2 appointed for terms of 6 years, to be designated by the
3 Governor at the time of appointment.
4 A vacancy on the board of trustees caused by resignation,
5 death, expiration of term of office, or other reason shall be
6 filled by a qualified person appointed by the Governor for
7 the remainder of the unexpired term.
8 Trustees (other than the trustees incumbent on June 30,
9 1995) shall continue in office until their respective
10 successors are appointed and have qualified, except that a
11 trustee appointed to one of the participant positions shall
12 be disqualified immediately upon the termination of his or
13 her status as a participant and a trustee appointed to one of
14 the annuitant positions shall be disqualified immediately
15 upon the termination of his or her status as an annuitant
16 receiving a retirement annuity.
17 The terms of all trustees holding office under this
18 subsection (c) on June 30, 1999 shall terminate at the end of
19 that day and the Board shall thereafter be constituted as
20 provided in subsection (c-1).
21 (c-1) Beginning July 1, 1999, the Board of Trustees
22 shall be constituted as follows:
23 The Board shall consist of 9 trustees. Three of the
24 trustees shall be participants of the System, nominated and
25 elected by the participants of the System. Three of the
26 trustees shall be annuitants of the System who are receiving
27 retirement annuities under this Article, nominated and
28 elected by the annuitants of the System who are age 18 or
29 older. The 3 remaining trustees shall be appointed by the
30 Governor and may, but need not, be participants or annuitants
31 of the System.
32 The term of office of trustees elected or appointed under
33 this subsection (c-1) shall be 6 years, beginning on July 1.
34 However, of the initial trustees elected or appointed under
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1 this subsection (c), one participant trustee, one annuitant
2 trustee, and one appointed trustee shall serve for terms of 2
3 years; one participant trustee, one annuitant trustee, and
4 one appointed trustee shall serve for terms of 4 years; and
5 one participant trustee, one annuitant trustee, and one
6 appointed trustee shall serve for terms of 6 years. The
7 terms of the initial elected trustees shall be determined by
8 lot at the next regular meeting of the Board after the
9 election has been concluded. The terms of the initial
10 appointed trustees shall be specified by the Governor at the
11 time of appointment.
12 Candidates for election shall be nominated by petition
13 containing the signatures and addresses of at least 100
14 participants or annuitants, as the case may be. Petitions
15 shall be filed with the Secretary of the Board during the
16 month of January before the election. The Secretary shall
17 determine the validity of petitions of candidates by February
18 15 before the election and shall notify the candidates as to
19 whether or not their petitions have met the requirements.
20 If no more than one candidate files a valid petition for
21 election to a position, that candidate shall be declared
22 elected. If there is more than one nominee for a position,
23 then the Board shall conduct by mail a secret ballot election
24 among those persons eligible to vote for that position, in
25 accordance with Section 15-159.1 and such rules and
26 procedures as it may adopt.
27 If a vacancy occurs among the elected members of the
28 Board, the remaining elected members of the Board shall meet
29 for the purpose of filling the vacant position by appointing
30 a person who is eligible for nomination and election to the
31 position to serve for the remainder of the term. The meeting
32 shall be held as soon as practicable after the position
33 becomes vacant. Appointment of a person to fill a vacancy in
34 an elected trustee position requires a majority vote of the
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1 elected members present at the meeting.
2 A vacancy among the appointed trustees shall be filled by
3 a qualified person appointed by the Governor for the
4 remainder of the unexpired term.
5 Trustees (other than the trustees incumbent on June 30,
6 1999) shall continue in office until their respective
7 successors are appointed and have qualified, except that a
8 participant trustee shall be disqualified upon the
9 termination of his or her status as a participant and an
10 annuitant trustee shall be disqualified upon the termination
11 of his or her status as an annuitant receiving a retirement
12 annuity.
13 (d) Each trustee must take an oath of office before a
14 notary public of this State and shall qualify as a trustee
15 upon the presentation to the the Board of a certified copy of
16 the oath. The oath must state that the person will
17 diligently and honestly administer the affairs of the
18 retirement system, and will not knowingly violate or wilfully
19 permit to be violated any provisions of this Article.
20 Each trustee shall serve without compensation but shall
21 be reimbursed for expenses necessarily incurred in attending
22 board meetings and carrying out his or her duties as a
23 trustee or officer of the system.
24 (e) This amendatory Act of 1995 is intended to supersede
25 the changes made to this Section by Public Act 89-4.
26 (Source: P.A. 89-4, eff. 1-1-96; 89-196, eff. 7-21-95.)
27 (40 ILCS 5/15-159.1 new)
28 Sec. 15-159.1. Election of trustees.
29 (a) Election of trustees shall be by mail ballot. The
30 board shall prepare and send ballots and ballot envelopes to
31 the persons eligible to vote as of February 1 of the year of
32 the election. The ballots shall contain the names of all
33 candidates of the constituency for which the person is
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1 eligible to vote, in alphabetical order. The ballot envelope
2 shall have on the outside a form of certificate stating that
3 the person voting the ballot is a member of the specified
4 constituency and is entitled to vote.
5 (b) Persons wishing to vote shall vote the ballot and
6 place it in the ballot envelope, seal the envelope, execute
7 the certificate on the envelope, and return the ballot to the
8 System.
9 (c) The final date for ballot return shall be May 1, or
10 if that date falls on a Saturday, Sunday, or State holiday,
11 then the next business day. Ballots received on or before
12 that date, in a ballot envelope with a properly executed
13 certificate and properly voted, shall be valid ballots.
14 (d) The board shall set a day for counting ballots and
15 name judges and clerks of election to conduct the count of
16 ballots, and shall make any rules and regulations that may be
17 necessary for the conduct of the count.
18 (e) Candidates for the office of trustee, and employee
19 and labor organizations, shall have access, at their own
20 expense, to the System's participant mailing lists for
21 election purposes.
22 (40 ILCS 5/22A-109) (from Ch. 108 1/2, par. 22A-109)
23 Sec. 22A-109. Membership of board. The board shall
24 consist of the following members: (a) ex-officio members
25 consisting of the State Treasurer and the Chairman of the
26 board of trustees of each pension fund or retirement system,
27 other than pension funds covered by Articles 3 and 4 of this
28 Code, whose investment functions have been transferred to the
29 jurisdiction of this board; and (b) 5 members appointed by
30 the Governor with the approval of the Senate, one of whom
31 shall be a senior citizen age 60 or over and, beginning with
32 the next appointment made after the effective date of this
33 amendatory Act of 1997, one of whom shall be a representative
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1 of the labor union representing the greatest number of
2 members in the pension funds and retirement systems whose
3 investment functions have been transferred to the
4 jurisdiction of the board.
5 The appointive members shall serve for terms of 4 years
6 except that the terms of office of the original appointive
7 members shall be as follows: one member for a term of 1
8 year; 1 member for a term of 2 years; 1 member for a term of
9 3 years; and 1 member for a term of 4 years. The member
10 first appointed under this amendatory Act of 1984 shall serve
11 for a term of 4 years.
12 Vacancies among the appointive members shall be filled
13 for unexpired terms by appointment in like manner as for
14 original appointments, and appointive members shall continue
15 in office until their successors have been appointed and have
16 qualified.
17 Ex-officio members who cannot attend meetings of the
18 board or its committees may respectively designate one
19 appropriate proxy from within the office of the State
20 Treasurer or the trustees of the pension fund or retirement
21 system, which proxy shall have the same powers and authority
22 as the ex-officio member being represented, but no member may
23 designate a different proxy within one year after his last
24 designation of a proxy unless the person last so designated
25 has become ineligible to serve in that capacity.
26 Each person appointed to membership shall qualify by
27 taking an oath of office before the Secretary of State
28 stating that he will diligently and honestly administer the
29 affairs of the board and will not violate or knowingly permit
30 the violation of any provisions of this Article.
31 Members of the board shall receive no salary for service
32 on the board but shall be reimbursed for travel expenses
33 incurred while on business for the board according to the
34 standards in effect for members of the Illinois Legislative
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1 Research Unit.
2 A majority of the members of the board shall constitute a
3 quorum. The board shall elect from its membership,
4 biennially, a Chairman, Vice Chairman and a Recording
5 Secretary. These officers, together with one other member
6 elected by the board, shall constitute the executive
7 committee. During the interim between regular meetings of
8 the board, the executive committee shall have authority to
9 conduct all business of the board and shall report such
10 business conducted at the next following meeting of the board
11 for ratification.
12 No member of the board shall have any interest in any
13 brokerage fee, commission or other profit or gain arising out
14 of any investment made by the board. This paragraph does not
15 preclude ownership by any member of any minority interest in
16 any common stock or any corporate obligation in which
17 investment is made by the board.
18 The board shall contract for a blanket fidelity bond in
19 the penal sum of not less than $1,000,000.00 to cover members
20 of the board, the director and all other employees of the
21 board conditioned for the faithful performance of the duties
22 of their respective offices, the premium on which shall be
23 paid by the board. The bond shall be filed with the State
24 Treasurer for safekeeping.
25 (Source: P.A. 87-1265.)