101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB2761

 

Introduced , by Rep. La Shawn K. Ford

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/7-174  from Ch. 108 1/2, par. 7-174

    Amends the Illinois Municipal Retirement Fund (IMRF) Article of the Illinois Pension Code. Makes a technical change in a Section concerning the Board of Trustees of the Fund.


LRB101 09878 RPS 54980 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2761LRB101 09878 RPS 54980 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 changing
5Section 7-174 as follows:
 
6    (40 ILCS 5/7-174)  (from Ch. 108 1/2, par. 7-174)
7    Sec. 7-174. Board created.
8    (a) A board of 8 members shall constitute a board of
9trustees authorized to carry out the provisions of this this
10Article. Each trustee shall be a participating employee of a
11participating municipality or participating instrumentality or
12an annuitant of the Fund and no person shall be eligible to
13become a trustee after January 1, 1979 who does not have the
14minimum service credit in this Fund to qualify for a pension.
15    (b) The board shall consist of representatives of various
16groups as follows:
17        1. 4 trustees shall be a chief executive officer, chief
18    finance officer, or other officer, executive or department
19    head of a participating municipality or participating
20    instrumentality, and each such trustee shall be designated
21    as an executive trustee.
22        2. 3 trustees shall be employees of a participating
23    municipality or participating instrumentality and each

 

 

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1    such trustee shall be designated as an employee trustee.
2        3. One trustee shall be an annuitant of the Fund, who
3    shall be designated the annuitant trustee.
4    (c) A person elected as a trustee shall qualify as a
5trustee, after declaration by the board that he has been duly
6elected, upon taking and subscribing to the constitutional oath
7of office and filing same in the office of the Fund.
8    (d) The term of office of each trustee shall begin upon
9January 1 of the year following the year in which he is elected
10and shall continue for a period of 5 years and until a
11successor has been elected and qualified, or until prior
12resignation, death, incapacity or disqualification.
13    (e) Any elected trustee (other than the annuitant trustee)
14shall be disqualified immediately upon termination of
15employment with all participating municipalities and
16instrumentalities thereof or upon any change in status which
17removes any such trustee from all employments within the group
18he represents. The annuitant trustee shall be disqualified upon
19termination of his or her annuity.
20    (f) The trustees shall fill any vacancy in the board by
21appointment, for the period until the next election of
22trustees, or, if the remaining term is less than 2 years, for
23the remainder of the term, and until his successor has been
24elected and qualified.
25    (g) Trustees shall serve without compensation, but shall be
26reimbursed for any reasonable expenses incurred in attending

 

 

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1meetings of the board and in performing duties on behalf of the
2Fund and for the amount of any earnings withheld by any
3employing municipality or participating instrumentality
4because of attendance at any board meeting.
5    (h) Each trustee shall be entitled to one vote on any and
6all actions before the board. At least 5 concurring votes shall
7be necessary for every decision or action by the board at any
8of its meetings. No decision or action shall become effective
9unless presented and so approved at a regular or duly called
10special meeting of the board.
11(Source: P.A. 100-139, eff. 8-18-17.)