Bill Text: IL HB3850 | 2015-2016 | 99th General Assembly | Introduced
Bill Title: Amends the Illinois Municipal Retirement Fund Article of the Illinois Pension Code. Allows an action or decision taken at a board committee meeting to become effective without a regular or special meeting of the whole board. Effective immediately.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2015-03-24 - Added Co-Sponsor Rep. Jaime M. Andrade, Jr. [HB3850 Detail]
Download: Illinois-2015-HB3850-Introduced.html
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1 | AN ACT concerning public employee benefits.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Pension Code is amended by changing | ||||||||||||||||||||||||
5 | Section 7-174 as follows:
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6 | (40 ILCS 5/7-174) (from Ch. 108 1/2, par. 7-174)
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7 | Sec. 7-174. Board created.
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8 | (a) A board of 8 members shall
constitute a board of | ||||||||||||||||||||||||
9 | trustees authorized to carry out the provisions of
this | ||||||||||||||||||||||||
10 | Article. Each trustee shall be a participating employee of a
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11 | participating municipality or participating instrumentality or | ||||||||||||||||||||||||
12 | an annuitant
of the Fund and no person shall be eligible to | ||||||||||||||||||||||||
13 | become a trustee after January
1, 1979 who does not have at | ||||||||||||||||||||||||
14 | least 8 years of creditable service.
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15 | (b) The board shall consist of representatives of various | ||||||||||||||||||||||||
16 | groups as
follows:
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17 | 1. 4 trustees shall be a chief executive officer, chief | ||||||||||||||||||||||||
18 | finance
officer, or other officer, executive or department | ||||||||||||||||||||||||
19 | head of a
participating municipality or participating | ||||||||||||||||||||||||
20 | instrumentality, and each
such trustee shall be designated | ||||||||||||||||||||||||
21 | as an executive trustee.
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22 | 2. 3 trustees shall be employees of a participating | ||||||||||||||||||||||||
23 | municipality or
participating instrumentality and each |
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1 | such trustee shall be designated
as an employee trustee.
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2 | 3. One trustee shall be an annuitant of the Fund, who | ||||||
3 | shall be
designated the annuitant trustee.
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4 | (c) A person elected as a trustee shall qualify as a | ||||||
5 | trustee, after
declaration by the board that he has been duly | ||||||
6 | elected, upon taking and
subscribing to the constitutional oath | ||||||
7 | of office and filing same in the
office of the Fund.
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8 | (d) The term of office of each trustee shall begin upon | ||||||
9 | January 1 of
the year following the year in which he is elected | ||||||
10 | and shall continue
for a period of 5 years and until a | ||||||
11 | successor has been elected and
qualified, or until prior | ||||||
12 | resignation, death, incapacity or
disqualification.
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13 | (e) Any elected trustee (other than the annuitant trustee) | ||||||
14 | shall be
disqualified immediately upon termination of | ||||||
15 | employment with all participating
municipalities and | ||||||
16 | instrumentalities thereof or upon any change in status which
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17 | removes any such trustee from all employments within the group | ||||||
18 | he represents.
The annuitant trustee shall be disqualified upon | ||||||
19 | termination of his or her
annuity.
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20 | (f) The trustees shall fill any vacancy in the board by | ||||||
21 | appointment,
for the period until the next election of | ||||||
22 | trustees, or, if the remaining
term is less than 2 years, for | ||||||
23 | the remainder of the term, and until his
successor has been | ||||||
24 | elected and qualified.
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25 | (g) Trustees shall serve without compensation, but shall be
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26 | reimbursed for any reasonable expenses incurred in attending |
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1 | meetings of
the board and in performing duties on behalf of the | ||||||
2 | Fund and for the
amount of any earnings withheld by any | ||||||
3 | employing municipality or
participating instrumentality | ||||||
4 | because of attendance at any board
meeting.
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5 | (h) Each trustee shall be entitled to
one vote on any and | ||||||
6 | all actions before the board. At least 5 concurring votes
shall | ||||||
7 | be necessary for every decision or action by the board at any | ||||||
8 | of its
meetings. No decision or action shall become effective | ||||||
9 | unless presented and so
approved at a regular or duly called | ||||||
10 | special meeting of the board or at any board committee meeting .
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11 | (Source: P.A. 95-890, eff. 8-22-08.)
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12 | Section 99. Effective date. This Act takes effect upon | ||||||
13 | becoming law.
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