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Public Act 095-0890
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| SB1957 Enrolled |
LRB095 16317 AMC 42341 b |
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AN ACT concerning public employee benefits.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Pension Code is amended by changing |
Section 7-174 as follows:
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(40 ILCS 5/7-174) (from Ch. 108 1/2, par. 7-174)
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Sec. 7-174. Board created.
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(a) A board of 8 members shall
constitute a board of |
trustees authorized to carry out the provisions of
this |
Article. Each trustee shall be a participating employee of a
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participating municipality or participating instrumentality or |
an annuitant
of the Fund and no person shall be eligible to |
become a trustee after January
1, 1979 who does not have at |
least 8 years of creditable service.
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(b) The board shall consist of representatives of various |
groups as
follows:
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1. 4 trustees shall be a chief executive officer, chief |
finance
officer, or other officer, executive or department |
head of a
participating municipality or participating |
instrumentality, and each
such trustee shall be designated |
as an executive trustee.
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2. 3 trustees shall be employees of a participating |
municipality or
participating instrumentality and each |
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such trustee shall be designated
as an employee trustee.
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3. One trustee shall be an annuitant of the Fund, who |
shall be
designated the annuitant trustee.
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(c) A person elected as a trustee shall qualify as a |
trustee, after
declaration by the board that he has been duly |
elected, upon taking and
subscribing to the constitutional oath |
of office and filing same in the
office of the Fund.
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(d) The term of office of each trustee shall begin upon |
January 1 of
the year following the year in which he is elected |
and shall continue
for a period of 5 years and until a |
successor has been elected and
qualified, or until prior |
resignation, death, incapacity or
disqualification.
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(e) Any elected trustee (other than the annuitant trustee) |
shall be
disqualified immediately upon termination of |
employment with all participating
municipalities and |
instrumentalities thereof or upon any change in status which
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removes any such trustee from all employments within the group |
he represents.
The annuitant trustee shall be disqualified upon |
termination of his or her
annuity.
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(f) The trustees shall fill any vacancy in the board by |
appointment,
for the period until the next election of |
trustees, or, if the remaining
term is less than 2 years, for |
the remainder of the term, and until his
successor has been |
elected and qualified.
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(g) Trustees shall serve without compensation, but shall be
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reimbursed for any reasonable expenses incurred in attending |
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meetings of
the board and in performing duties on behalf of the |
Fund and for the
amount of any earnings withheld by any |
employing municipality or
participating instrumentality |
because of attendance at any board
meeting.
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(h) Each trustee other than the annuitant trustee shall be |
entitled to
one vote on any and all actions before the board; |
the annuitant trustee is
not entitled to vote on any matter. At |
least 5 4 concurring votes
shall be necessary for every |
decision or action by the board at any of its
meetings. No |
decision or action shall become effective unless presented and |
so
approved at a regular or duly called special meeting of the |
board.
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(Source: P.A. 89-136, eff. 7-14-95.)
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Section 99. Effective date. This Act takes effect upon |
becoming law.
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