Bill Text: IL SB1613 | 2011-2012 | 97th General Assembly | Amended
Bill Title: Amends the Illinois Pension Code. Requires (rather than authorizes) every retirement system other than the State-funded retirement systems to indemnify and protect its board of trustees from damage claims for negligent or wrongful acts. Authorizes the State-funded retirement systems and the Illinois State Board of Investment to offer similar indemnification. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.
Spectrum: Bipartisan Bill
Status: (Failed) 2013-01-08 - Session Sine Die [SB1613 Detail]
Download: Illinois-2011-SB1613-Amended.html
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1 | AMENDMENT TO SENATE BILL 1613
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2 | AMENDMENT NO. ______. Amend Senate Bill 1613 by replacing | ||||||
3 | everything after the enacting clause with the following:
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4 | "Section 5. The Illinois Pension Code is amended by adding | ||||||
5 | Sections 1-109.3 and 1-113.18 as follows:
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6 | (40 ILCS 5/1-109.3) | ||||||
7 | Sec. 1-109.3. Training requirement for pension trustees. | ||||||
8 | (a) All elected and appointed trustees under Article 3 and | ||||||
9 | 4 of this Code must participate in a mandatory trustee | ||||||
10 | certification training seminar that consists of at least 32 | ||||||
11 | hours of initial trustee certification at a training facility | ||||||
12 | that is accredited and affiliated with a State of Illinois | ||||||
13 | certified college or university. This training must include | ||||||
14 | without limitation all of the following: | ||||||
15 | (1) Duties and liabilities of a fiduciary under Article | ||||||
16 | 1 of the Illinois Pension Code. |
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1 | (2) Adjudication of pension claims. | ||||||
2 | (3) Basic accounting and actuarial training. | ||||||
3 | (4) Trustee ethics. | ||||||
4 | (5) The Illinois Open Meetings Act. | ||||||
5 | (6) The Illinois Freedom of Information Act. | ||||||
6 | The training required under this subsection (a) must be | ||||||
7 | completed within the first 2 years after the year that a | ||||||
8 | trustee takes office is elected or appointed under an Article 3 | ||||||
9 | or 4 pension fund. The elected and appointed trustees of an | ||||||
10 | Article 3 or 4 pension fund who are police officers (as defined | ||||||
11 | in Section 3-106 of this Code) or firefighters (as defined in | ||||||
12 | Section 4-106 of this Code) or are employed by the municipality | ||||||
13 | shall be permitted time away from their duties to attend such | ||||||
14 | training without reduction of accrued leave or benefit time. | ||||||
15 | Active or appointed trustees serving on the effective date of | ||||||
16 | this amendatory Act of the 96th General Assembly shall not be | ||||||
17 | required to attend the training required under this subsection | ||||||
18 | (a). | ||||||
19 | (b) Upon completion of, and in In addition to , the initial | ||||||
20 | trustee certification training required under subsection (a), | ||||||
21 | all elected and appointed trustees under Article 3 and 4 of | ||||||
22 | this Code , including trustees serving on the effective date of | ||||||
23 | this amendatory Act of the 96th General Assembly, shall also | ||||||
24 | complete at least an additional participate in a minimum of 16 | ||||||
25 | hours of continuing trustee education during (i) the 2 years | ||||||
26 | following the date by which the training required under |
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1 | subsection (a) must be completed and (ii) every 2 years | ||||||
2 | thereafter each year after the first year that the trustee is | ||||||
3 | elected or appointed . Ethics training completed under Section | ||||||
4 | 1-113.18 may be applied toward the hours required under this | ||||||
5 | subsection (b). | ||||||
6 | (c) The training required under this Section shall be paid | ||||||
7 | for by the pension fund. | ||||||
8 | (d) Any board member who does not timely complete the | ||||||
9 | training required under this Section is not eligible to serve | ||||||
10 | on the board of trustees of an Article 3 or 4 pension fund, | ||||||
11 | unless the board member completes the missed training within 6 | ||||||
12 | months after the date the member failed to complete the | ||||||
13 | required training. In the event of a board member's failure to | ||||||
14 | complete the required training, a successor shall be appointed | ||||||
15 | or elected, as applicable, for the unexpired term. A successor | ||||||
16 | who is elected under such circumstances must be elected at a | ||||||
17 | special election called by the board and conducted in the same | ||||||
18 | manner as a regular election under Article 3 or 4, as | ||||||
19 | applicable.
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20 | (Source: P.A. 96-429, eff. 8-13-09.)
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21 | (40 ILCS 5/1-113.18)
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22 | Sec. 1-113.18. Ethics training. All board members of a | ||||||
23 | retirement system, pension fund, or investment board created | ||||||
24 | under this Code must attend ethics training of at least 8 hours | ||||||
25 | every 2 years per year . The training required under this |
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1 | Section shall include training on ethics, fiduciary duty, and | ||||||
2 | investment issues and any other curriculum that the board of | ||||||
3 | the retirement system, pension fund, or investment board | ||||||
4 | establishes as being important for the administration of the | ||||||
5 | retirement system, pension fund, or investment board. The | ||||||
6 | Supreme Court of Illinois shall be responsible for ethics | ||||||
7 | training and curriculum for judges designated by the Court to | ||||||
8 | serve as members of a retirement system, pension fund, or | ||||||
9 | investment board.
Each board shall annually certify its | ||||||
10 | members' compliance with this Section and submit an annual | ||||||
11 | certification to the Division of Insurance of the Department of | ||||||
12 | Financial and Professional Regulation. Judges shall annually | ||||||
13 | certify compliance with the ethics training requirement and | ||||||
14 | shall submit an annual certification to the Chief Justice of | ||||||
15 | the Supreme Court of Illinois. Ethics training completed under | ||||||
16 | this Section may be applied toward the continuing education | ||||||
17 | requirement in subsection (b) of Section 1-109.3.
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18 | (Source: P.A. 96-6, eff. 4-3-09.)
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19 | Section 90. The State Mandates Act is amended by adding | ||||||
20 | Section 8.35 as follows:
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21 | (30 ILCS 805/8.35 new) | ||||||
22 | Sec. 8.35. Exempt mandate. Notwithstanding Sections 6 and 8 | ||||||
23 | of this Act, no reimbursement by the State is required for the | ||||||
24 | implementation of any mandate created by this amendatory Act of |
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1 | the 97th General Assembly.
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2 | Section 99. Effective date. This Act takes effect upon | ||||||
3 | becoming law.".
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