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| 1 | AMENDMENT TO HOUSE BILL 3004
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| 2 | AMENDMENT NO. ______. Amend House Bill 3004 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 | Section 1-109.5 as follows: | ||||||
| 6 | (40 ILCS 5/1-109.5 new) | ||||||
| 7 | Sec. 1-109.5. Prohibition on employment for board members. | ||||||
| 8 | Except as otherwise provided in this Section and in accordance | ||||||
| 9 | with Section 5-45 of the State Officials and Employees Ethics | ||||||
| 10 | Act, no individual who is a board member of a pension fund, | ||||||
| 11 | investment board, or retirement system may be employed by that | ||||||
| 12 | pension fund, investment board, or retirement system at any | ||||||
| 13 | time during his or her service and for a period of 12 months | ||||||
| 14 | after he or she ceases to be a board member. | ||||||
| 15 | If the executive director position becomes vacant and no | ||||||
| 16 | executive member of the staff is willing to accept the | ||||||
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| 1 | position, an individual serving as a board member may | ||||||
| 2 | temporarily serve as interim executive director of the fund | ||||||
| 3 | under the following conditions: | ||||||
| 4 | (1) the executive director position is vacant and the | ||||||
| 5 | board is conducting and documenting a public search for a | ||||||
| 6 | new permanent executive director who is not a member of | ||||||
| 7 | the board of trustees of the fund; | ||||||
| 8 | (2) a majority of the board of trustees of the fund | ||||||
| 9 | votes to designate a specific board member to serve as the | ||||||
| 10 | interim executive director; | ||||||
| 11 | (3) the board-designated interim executive director | ||||||
| 12 | does not receive any salary or benefits associated with | ||||||
| 13 | the position; | ||||||
| 14 | (4) the board-designated interim executive director | ||||||
| 15 | serves for a period of not more than 6 months; and | ||||||
| 16 | (5) the trustee vacates his or her position as a | ||||||
| 17 | trustee while serving as an interim executive director.".
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