HB0379 102ND GENERAL ASSEMBLY

102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022
HB0379

Introduced 1/29/2021, by Rep. William Davis

SYNOPSIS AS INTRODUCED:

40 ILCS 5/17-147 from Ch. 108 1/2, par. 17-147

Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that payment from the Fund shall be made upon checks or through direct deposit transmittals authorized by the executive director (instead of upon warrants signed by the president and the secretary of the Board of Education, the president of the Board, and countersigned by the executive director) or by such person as the Board may designate from time to time by appropriate resolution. Makes other changes.

LRB102 10032 RPS 15352 b

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

HB0379

LRB102 10032 RPS 15352 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

5 changing Section 17-147 as follows:

6 (40 ILCS 5/17-147) (from Ch. 108 1/2, par. 17-147)

7 Sec. 17-147. Custody of Fund; bonds; legal ~~Fund - Bonds -~~

8 ~~Legal~~ proceedings. The city treasurer,ex officio~~ex-officio~~,

9 shall be the custodian of the Fund, and shall secure and safely

10 keep it, subject to the control and direction of the Board.The

11 city treasurer ~~He~~ shall keep the ~~his~~books and accounts

12 concerning the Fund in the manner prescribed by the Board. The

13 books and accounts shall always be subject to the inspection

14 of the Board or any member thereof. The city treasurer shall be

15 liable on the city treasurer's ~~his~~official bond for the

16 proper performance of ~~his~~ duties and the conservation of the

17 Fund.

18 Payments from the Fund shall be made upon checks or

19 through direct deposit transmittals authorized ~~warrants signed~~

20 ~~by the president and the secretary of the Board of Education,~~

21 ~~the president of the Board, and countersigned~~ by the executive

22 director or by such person as the Board may designate from time

23 to time by appropriate resolution.

HB0379

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LRB102 10032 RPS 15352 b

1 Neither the treasurer nor any other officer having the

2 custody of the Fund is entitled to retain any interest

3 accruing thereon, but such interest shall accrue and inure to

4 the benefit of such Fund, become a part thereof, subject to the

5 purposes of this Article.

6 Any legal proceedings necessary for the enforcement of the

7 provisions of this Article shall be brought by and in the name

8 of the Board of the Fund.

9 (Source: P.A. 90-566, eff. 1-2-98.)