Rep. Joseph M. Lyons

Filed: 5/18/2011

 

 


 

 


 
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1
AMENDMENT TO SENATE BILL 1613

2    AMENDMENT NO. ______. Amend Senate Bill 1613 by replacing
3everything after the enacting clause with the following:
 
4    "Section 5. The Illinois Pension Code is amended by adding
5Sections 1-109.3 and 1-113.18 as follows:
 
6    (40 ILCS 5/1-109.3)
7    Sec. 1-109.3. Training requirement for pension trustees.
8    (a) All elected and appointed trustees under Article 3 and
94 of this Code must participate in a mandatory trustee
10certification training seminar that consists of at least 32
11hours of initial trustee certification at a training facility
12that is accredited and affiliated with a State of Illinois
13certified college or university. This training must include
14without limitation all of the following:
15        (1) Duties and liabilities of a fiduciary under Article
16    1 of the Illinois Pension Code.

 

 

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1        (2) Adjudication of pension claims.
2        (3) Basic accounting and actuarial training.
3        (4) Trustee ethics.
4        (5) The Illinois Open Meetings Act.
5        (6) The Illinois Freedom of Information Act.
6    The training required under this subsection (a) must be
7completed within the first 2 years after the year that a
8trustee takes office is elected or appointed under an Article 3
9or 4 pension fund. The elected and appointed trustees of an
10Article 3 or 4 pension fund who are police officers (as defined
11in Section 3-106 of this Code) or firefighters (as defined in
12Section 4-106 of this Code) or are employed by the municipality
13shall be permitted time away from their duties to attend such
14training without reduction of accrued leave or benefit time.
15Active or appointed trustees serving on the effective date of
16this amendatory Act of the 96th General Assembly shall not be
17required to attend the training required under this subsection
18(a).
19    (b) Upon completion of, and in In addition to, the initial
20trustee certification training required under subsection (a),
21all elected and appointed trustees under Article 3 and 4 of
22this Code, including trustees serving on the effective date of
23this amendatory Act of the 96th General Assembly, shall also
24complete at least an additional participate in a minimum of 16
25hours of continuing trustee education during (i) the 2 years
26following the date by which the training required under

 

 

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1subsection (a) must be completed and (ii) every 2 years
2thereafter each year after the first year that the trustee is
3elected or appointed. Ethics training completed under Section
41-113.18 may be applied toward the hours required under this
5subsection (b).
6    (c) The training required under this Section shall be paid
7for by the pension fund.
8    (d) Any board member who does not timely complete the
9training required under this Section is not eligible to serve
10on the board of trustees of an Article 3 or 4 pension fund,
11unless the board member completes the missed training within 6
12months after the date the member failed to complete the
13required training. In the event of a board member's failure to
14complete the required training, a successor shall be appointed
15or elected, as applicable, for the unexpired term. A successor
16who is elected under such circumstances must be elected at a
17special election called by the board and conducted in the same
18manner as a regular election under Article 3 or 4, as
19applicable.
20(Source: P.A. 96-429, eff. 8-13-09.)
 
21    (40 ILCS 5/1-113.18)
22    Sec. 1-113.18. Ethics training. All board members of a
23retirement system, pension fund, or investment board created
24under this Code must attend ethics training of at least 8 hours
25every 2 years per year. The training required under this

 

 

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1Section shall include training on ethics, fiduciary duty, and
2investment issues and any other curriculum that the board of
3the retirement system, pension fund, or investment board
4establishes as being important for the administration of the
5retirement system, pension fund, or investment board. The
6Supreme Court of Illinois shall be responsible for ethics
7training and curriculum for judges designated by the Court to
8serve as members of a retirement system, pension fund, or
9investment board. Each board shall annually certify its
10members' compliance with this Section and submit an annual
11certification to the Division of Insurance of the Department of
12Financial and Professional Regulation. Judges shall annually
13certify compliance with the ethics training requirement and
14shall submit an annual certification to the Chief Justice of
15the Supreme Court of Illinois. Ethics training completed under
16this Section may be applied toward the continuing education
17requirement in subsection (b) of Section 1-109.3.
18(Source: P.A. 96-6, eff. 4-3-09.)
 
19    Section 90. The State Mandates Act is amended by adding
20Section 8.35 as follows:
 
21    (30 ILCS 805/8.35 new)
22    Sec. 8.35. Exempt mandate. Notwithstanding Sections 6 and 8
23of this Act, no reimbursement by the State is required for the
24implementation of any mandate created by this amendatory Act of

 

 

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1the 97th General Assembly.
 
2    Section 99. Effective date. This Act takes effect upon
3becoming law.".