Illinois General Assembly - Full Text of HB3474
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Full Text of HB3474  102nd General Assembly

HB3474enr 102ND GENERAL ASSEMBLY

  
  
  

 


 
HB3474 EnrolledLRB102 02573 RPS 12575 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
5changing Section 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
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,
18    chief finance officer, or other officer, executive or
19    department head of a participating municipality or
20    participating instrumentality, and each such trustee shall
21    be designated as an executive trustee.
22        2. 3 trustees shall be employees of a participating
23    municipality or participating instrumentality and each

 

 

HB3474 Enrolled- 2 -LRB102 02573 RPS 12575 b

1    such trustee shall be designated as an employee trustee. A
2    person who meets the criteria to be an executive trustee
3    may not serve as an employee trustee.
4        3. One trustee shall be an annuitant of the Fund, who
5    shall be designated the annuitant trustee.
6    (c) A person elected as a trustee shall qualify as a
7trustee, after declaration by the board that he has been duly
8elected, upon taking and subscribing to the constitutional
9oath of office and filing same in the office of the Fund.
10    (d) The term of office of each trustee shall begin upon
11January 1 of the year following the year in which he is elected
12and shall continue for a period of 5 years and until a
13successor has been elected and qualified, or until prior
14resignation, death, incapacity or disqualification.
15    (e) Any elected trustee (other than the annuitant trustee)
16shall be disqualified immediately upon termination of
17employment with all participating municipalities and
18instrumentalities thereof or upon any change in status which
19removes any such trustee from all employments within the group
20he represents. The annuitant trustee shall be disqualified
21upon termination of his or her annuity.
22    (f) The trustees shall fill any vacancy in the board by
23appointment, for the period until the next election of
24trustees, or, if the remaining term is less than 2 years, for
25the remainder of the term, and until his successor has been
26elected and qualified.

 

 

HB3474 Enrolled- 3 -LRB102 02573 RPS 12575 b

1    (g) Trustees shall serve without compensation, but shall
2be reimbursed for any reasonable expenses incurred in
3attending meetings of the board and in performing duties on
4behalf of the Fund and for the amount of any earnings withheld
5by any employing municipality or participating instrumentality
6because of attendance at any board meeting.
7    (h) Each trustee shall be entitled to one vote on any and
8all actions before the board. At least 5 concurring votes
9shall be necessary for every decision or action by the board at
10any of its meetings. No decision or action shall become
11effective unless presented and so approved at a regular or
12duly called special meeting of the board.
13(Source: P.A. 100-139, eff. 8-18-17.)
 
14    Section 99. Effective date. This Act takes effect upon
15becoming law.