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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB4924 Introduced 1/27/2022, by Rep. Jay Hoffman SYNOPSIS AS INTRODUCED:
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| 40 ILCS 5/4-130 | from Ch. 108 1/2, par. 4-130 |
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Amends the Downstate Firefighter Article of the Illinois Pension Code. Removes language requiring the treasurer of the board to execute a bond to the municipality conditioned for the faithful performance of the duties of the office and other conditions. Makes conforming changes. Effective immediately.
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| | A BILL FOR |
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| | HB4924 | | LRB102 24746 RPS 33986 b |
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| 1 | | AN ACT concerning public employee benefits.
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| 2 | | Be it enacted by the People of the State of Illinois,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Pension Code is amended by |
| 5 | | changing Section 4-130 as follows:
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| 6 | | (40 ILCS 5/4-130) (from Ch. 108 1/2, par. 4-130)
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| 7 | | Sec. 4-130. Treasurer of the Board. The treasurer of the |
| 8 | | municipality shall be the treasurer of the board and
the |
| 9 | | custodian of the pension fund,
and shall secure and safely |
| 10 | | keep the fund's assets, subject
to the control and
direction |
| 11 | | of the board. The treasurer shall keep
books and accounts |
| 12 | | concerning the fund in such manner as may be prescribed
by the |
| 13 | | board. The books and accounts shall be subject to the |
| 14 | | inspection of the board
or any member thereof.
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| 15 | | The treasurer, within 10 days after his or her election or
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| 16 | | appointment, shall execute a bond to the municipality, with |
| 17 | | good and
sufficient securities, in
such penal sums as the |
| 18 | | board shall direct, to be approved by the board,
conditioned |
| 19 | | for the faithful performance of the duties of the
office, and |
| 20 | | for the safekeeping and proper accounting of all moneys and
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| 21 | | property which come to the treasurer;
and that on the |
| 22 | | expiration of his or her term of office all moneys
and property |
| 23 | | of the fund will be turned
over to his or her successor.
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