SB2826 93RD GENERAL ASSEMBLY

LRB093 20874 LRD 46821 b

93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2826

Introduced 2/5/2004, by Vince Demuzio

SYNOPSIS AS INTRODUCED:

40 ILCS 5/16-163	from Ch. 108 1/2, par. 16-163
40 ILCS 5/16-164	from Ch. 108 1/2, par. 16-164

Amends the Downstate Teachers Article of the Illinois Pension Code. Changes the membership of the Board of Trustees of the Downstate Teachers' Retirement System to remove the Superintendent of Education and to add a fifth member appointed by the Governor. Provides that the President of the Board of Trustees shall be elected by a vote of the Board members. Effective July 1, 2004.

FISCAL NOTE ACT MAY APPLY

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Pension Code is amended by changing Sections 16-163 and 16-164 as follows:

(40 ILCS 5/16-163) (from Ch. 108 1/2, par. 16-163)

Sec. 16-163. Board created. A board of 11 members constitutes a board of trustees authorized to carry out the provisions of this Article and is responsible for the general administration of the System. The board is known as the Board of Trustees of the Teachers' Retirement System of the State of Illinois. The board is composed of 5 the Superintendent of Education, ex officio, who shall be the president of the board; 4 persons, not members of the System, to be appointed by the Governor, who shall hold no elected State office; 4 teachers, as defined in Section 16-106, elected by the contributing members; and 2 annuitant members elected by the annuitants of the System, as provided in Section 16-165. The president of the Board shall be a member elected by the affirmative vote of a majority of the members of the Board. The term of the president shall be one year.

(Source: P.A. 90-511, eff. 8-22-97; 91-941, eff. 2-6-01.)

(40 ILCS 5/16-164) (from Ch. 108 1/2, par. 16-164)

Sec. 16-164. Board - appointed members - vacancies. Terms of office for the appointed members shall begin on July 15 of an even-numbered year. The Governor shall appoint 2 members as trustees in each even-numbered year who shall hold office for a term of 4 years. The appointed trustee position created by this amendatory Act of the 93rd General Assembly shall be filled as soon as possible by appointment by the Governor, for an initial term ending July 15, 2006. In addition to other appointments provided for in this Section, one appointed trustee shall be appointed by the Governor in 2006, and in every fourth year thereafter, for a term of 4 years beginning July 15 next following his or her appointment.

Each such appointee shall reside in and be a taxpayer in the territory covered by this system, shall be interested in public school welfare, and experienced and competent in financial and business management. A vacancy in the term of an appointed trustee shall be filled for the unexpired term by appointment of the Governor.

(Source: P.A. 83-1440.)

Section 99. Effective date. This Act takes effect July 1, 2004.