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| Public Act 095-0890 |
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AN ACT concerning public employee benefits.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Illinois Pension Code is amended by changing | ||||
Section 7-174 as follows:
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(40 ILCS 5/7-174) (from Ch. 108 1/2, par. 7-174)
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Sec. 7-174. Board created.
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(a) A board of 8 members shall
constitute a board of | ||||
trustees authorized to carry out the provisions of
this | ||||
Article. Each trustee shall be a participating employee of a
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participating municipality or participating instrumentality or | ||||
an annuitant
of the Fund and no person shall be eligible to | ||||
become a trustee after January
1, 1979 who does not have at | ||||
least 8 years of creditable service.
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(b) The board shall consist of representatives of various | ||||
groups as
follows:
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1. 4 trustees shall be a chief executive officer, chief | ||||
finance
officer, or other officer, executive or department | ||||
head of a
participating municipality or participating | ||||
instrumentality, and each
such trustee shall be designated | ||||
as an executive trustee.
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2. 3 trustees shall be employees of a participating | ||||
municipality or
participating instrumentality and each | ||||
such trustee shall be designated
as an employee trustee.
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3. One trustee shall be an annuitant of the Fund, who | ||
shall be
designated the annuitant trustee.
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(c) A person elected as a trustee shall qualify as a | ||
trustee, after
declaration by the board that he has been duly | ||
elected, upon taking and
subscribing to the constitutional oath | ||
of office and filing same in the
office of the Fund.
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(d) The term of office of each trustee shall begin upon | ||
January 1 of
the year following the year in which he is elected | ||
and shall continue
for a period of 5 years and until a | ||
successor has been elected and
qualified, or until prior | ||
resignation, death, incapacity or
disqualification.
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(e) Any elected trustee (other than the annuitant trustee) | ||
shall be
disqualified immediately upon termination of | ||
employment with all participating
municipalities and | ||
instrumentalities thereof or upon any change in status which
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removes any such trustee from all employments within the group | ||
he represents.
The annuitant trustee shall be disqualified upon | ||
termination of his or her
annuity.
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(f) The trustees shall fill any vacancy in the board by | ||
appointment,
for the period until the next election of | ||
trustees, or, if the remaining
term is less than 2 years, for | ||
the remainder of the term, and until his
successor has been | ||
elected and qualified.
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(g) Trustees shall serve without compensation, but shall be
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reimbursed for any reasonable expenses incurred in attending | ||
meetings of
the board and in performing duties on behalf of the | ||
Fund and for the
amount of any earnings withheld by any | ||
employing municipality or
participating instrumentality | ||
because of attendance at any board
meeting.
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(h) Each trustee other than the annuitant trustee shall be | ||
entitled to
one vote on any and all actions before the board; | ||
the annuitant trustee is
not entitled to vote on any matter. At | ||
least 5 4 concurring votes
shall be necessary for every | ||
decision or action by the board at any of its
meetings. No | ||
decision or action shall become effective unless presented and | ||
so
approved at a regular or duly called special meeting of the | ||
board.
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(Source: P.A. 89-136, eff. 7-14-95.)
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Section 99. Effective date. This Act takes effect upon | ||
becoming law.
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