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92_HB1896 LRB9205417EGfg 1 AN ACT in relation to public employee benefits. 2 Be it enacted by the People of the State of Illinois, 3 represented in the General Assembly: 4 Section 5. The Illinois Pension Code is amended by 5 changing Section 5-178 as follows: 6 (40 ILCS 5/5-178) (from Ch. 108 1/2, par. 5-178) 7 Sec. 5-178. Board created. A board of 8 members shall 8 constitute a board of trustees authorized to administer the 9 provisions of this Article. The board shall be known as the 10 Retirement Board of the Policemen's Annuity and Benefit Fund 11 of the city. 12 The board shall consist of 4 persons appointed by the 13 mayor of the city; 3 policemen employed by the city, at least 14 one of whom shall be a lieutenant or of a rank superior to 15 lieutenant, one of whom shall be of the rank of sergeant, and 16 one of whom shall be of the rank of investigator or a rank 17 inferior to that rank; and one annuitant of the fund, or a 18 pensioner of any prior police pension fund in operation, by 19 authority of law, in the city. Children less than age 18 20 shall not be eligible for board membership. The term of 21 office for all members shall be 3 years; except that of the 22 members elected in 2002, the member who is of the rank of 23 lieutenant or a rank superior to that rank shall be elected 24 for a term of one year, and the member who is of the rank of 25 sergeant shall be elected for a term of 2 years. Upon his 26 election, the member holding the rank of investigator or a 27 rank inferior to that rank shall be detailed by the Police 28 Superintendent to the office of the board for the duration of 29 his term as trustee. 30 The members of a retirement board holding office in a 31 city at the time this Article becomes effective, including -2- LRB9205417EGfg 1 elected, appointed and ex-officio members, shall continue in 2 office until the expiration of their respective terms or 3 appointment and until their respective successors are elected 4 or appointed, and qualified. 5 At least 30 days prior to the expiration of the term of 6 office of each appointive member the mayor shall appoint a 7 successor for a term of 3 years. 8 The board shall conduct a regular election at least 30 9 days prior to the expiration of the terms of the active 10 policemen members and annuitant or beneficiary members for 11 election of a successor of each such member for a term of 3 12 years. 13 Any member of the board so appointed or elected shall 14 continue in office until his successor is selected and has 15 qualified. 16 Any person so appointed or elected shall qualify by 17 taking an oath of office. A copy thereof shall be kept in the 18 office of the city clerk of the city. 19 (Source: P.A. 86-273.) 20 Section 99. Effective date. This Act takes effect upon 21 becoming law.
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