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.




















LRB093 20874 LRD 46821 b

















FISCAL NOTE ACT MAY APPLY


PENSION IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











SB2826

LRB093 20874 LRD 46821 b






1
    AN ACT concerning public employee benefits.

 
2
    Be it enacted by the People of the State of Illinois,
 
3
represented in the General Assembly:


 
4
    Section 5. The Illinois Pension Code is amended  by changing 
5
Sections 16-163 and 16-164 as follows:
 



6
    (40 ILCS 5/16-163)  (from Ch. 108 1/2, par. 16-163)



7
    Sec. 16-163. Board created. A board of 11 members 
8
constitutes a
board of trustees authorized to carry out the 
9
provisions of this Article and is
responsible for the general 
10
administration of the System.  The board is known
as the Board 
11
of Trustees of the Teachers' Retirement System of the State of

12
Illinois.  The board is composed of 5
the Superintendent of 
13
Education, ex
officio, who shall be the president of the board; 
14
4 persons,
not members of the System, to be appointed by the 
15
Governor, who shall hold no
elected State office; 4 teachers, 
16
as defined in Section 16-106, elected by the
contributing 
17
members; and 2 annuitant members
elected by the annuitants of 
18
the System, as provided in Section 16-165. The president of the 
19
Board shall be a member elected by the affirmative vote of a 
20
majority of the members of the Board.  The term of the president 
21
shall be one year.


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

 



23
    (40 ILCS 5/16-164)  (from Ch. 108 1/2, par. 16-164)



24
    Sec. 16-164. Board - appointed members - vacancies. Terms 
25
of office for
the appointed members shall begin on July 15 of 
26
an even-numbered year.
The Governor shall appoint 2 members as 
27
trustees in each even-numbered year
who shall hold office for a 
28
term of 4 years. The appointed trustee position created by this 
29
amendatory Act of the 93rd General Assembly shall be filled as 
30
soon as possible by appointment by the Governor, for an initial 
31
term ending July 15, 2006.  In addition to other appointments 
 


 






SB2826
- 2 -
LRB093 20874 LRD 46821 b




1
provided for in this Section, one appointed trustee shall be 
2
appointed by the Governor in 2006, and in every fourth year 
3
thereafter, for a term of 4 years beginning July 15 next 
4
following his or her appointment.
5
    Each such appointee shall reside in and be
a taxpayer in 
6
the territory covered by this system, shall be interested
in 
7
public school welfare, and experienced and competent in 
8
financial and
business management. A vacancy in the term of an 
9
appointed
trustee shall be filled for the unexpired term by 
10
appointment of the
Governor.

11
(Source: P.A. 83-1440.)

 

12
    Section 99. Effective date. This Act takes effect July 1, 
13
2004.