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Public Act 102-0787


 

Public Act 0787 102ND GENERAL ASSEMBLY

  
  
  

 


 
Public Act 102-0787
 
HB4924 EnrolledLRB102 24746 RPS 33986 b

    AN ACT concerning public employee benefits.
 
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
 
    Section 5. The Illinois Pension Code is amended by
changing Section 4-130 as follows:
 
    (40 ILCS 5/4-130)  (from Ch. 108 1/2, par. 4-130)
    Sec. 4-130. Treasurer of the Board. The treasurer of the
municipality shall be the treasurer of the board and the
custodian of the pension fund, and shall secure and safely
keep the fund's assets, subject to the control and direction
of the board. The treasurer shall keep books and accounts
concerning the fund in such manner as may be prescribed by the
board. The books and accounts shall be subject to the
inspection of the board or any member thereof.
    The treasurer, within 10 days after his or her election or
appointment, shall execute a bond to the municipality, with
good and sufficient securities, in such penal sums as the
board shall direct, to be approved by the board, conditioned
for the faithful performance of the duties of the office, and
for the safekeeping and proper accounting of all moneys and
property which come to the treasurer; and that on the
expiration of his or her term of office all moneys and property
of the fund will be turned over to his or her successor.
    The bond shall be filed in the office of the clerk of the
municipality or in the office of the secretary of the board of
trustees of the fire protection district, as the case may be.
In case of a breach of the bond, or any of its conditions, suit
may be brought thereon in the name of the municipality for the
use of the board, or of any person or persons injured by such
breach.
(Source: P.A. 83-1440.)
 
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 5/13/2022