SB0528 EngrossedLRB101 04289 RJF 49297 b

1    AN ACT concerning government.
 
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 2-127 as follows:
 
6    (40 ILCS 5/2-127)  (from Ch. 108 1/2, par. 2-127)
7    Sec. 2-127. Board created. The system shall be administered
8by a board of trustees of 7 members as follows: 3 the President
9of the Senate, ex officio, or his designee; 2 members of the
10Senate appointed by the President; 3 members of the House of
11Representatives appointed by the Speaker; and one person
12elected from the member annuitants under rules prescribed by
13the board. Only participants are eligible to serve as board
14members. Not more than 2 two members of the House of
15Representatives, and not more than 2 members one member of the
16Senate so appointed shall be of the same political party.
17Appointed board members shall serve for 2-year terms. If the
18office of President of the Senate or Speaker of the House is
19vacant or its incumbent is not a participant, the position of
20trustee otherwise occupied by such officers shall be deemed
21vacant and be filled by appointment by the Governor with a
22member of the Senate or the House, as the case may be. This
23appointment shall be of the same political party as the vacated

 

 

SB0528 Engrossed- 2 -LRB101 04289 RJF 49297 b

1position.
2    Elections for the annuitant member shall be held in January
3of 1993 and every fourth year thereafter. Nominations and
4elections shall be conducted in accordance with such procedures
5as the Board may prescribe. In the event that only one eligible
6person is nominated, the Board may declare the nominee elected
7at the close of the nomination period, and need not conduct an
8election. The annuitant member elected in 1989 shall serve for
9a term of 4 years beginning February 1, 1989; thereafter, an
10annuitant member shall serve for a period of 4 years from the
11February 1st immediately following the date of election, and
12until a successor is elected and qualified.
13    Every person designated to serve as a trustee shall take an
14oath of office and shall thereupon qualify as a trustee. The
15oath shall state that the person will diligently and honestly
16administer the affairs of the system, and will not knowingly
17violate or wilfully permit the violation of any of the
18provisions of this Article.
19(Source: P.A. 86-273; 86-1488.)
 
20    Section 99. Effective date. This Act takes effect upon
21becoming law.