102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB3653

 

Introduced 1/21/2022, by Sen. Robert F. Martwick

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/1-109.5

    Amends the General Provisions Article of the Illinois Pension Code. Provides that no individual who is an employee of a pension fund, investment board, or retirement system may serve as a trustee of that pension fund, investment board, or retirement system within 12 months after his or her termination of employment. Effective January 1, 2023.


LRB102 22512 RPS 31653 b

 

 

A BILL FOR

 

SB3653LRB102 22512 RPS 31653 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by
5changing Section 1-109.5 as follows:
 
6    (40 ILCS 5/1-109.5)
7    (This Section may contain text from a Public Act with a
8delayed effective date)
9    Sec. 1-109.5. Prohibition on employment for board members.
10    (a) Except as otherwise provided in this Section and in
11accordance with Section 5-45 of the State Officials and
12Employees Ethics Act, no individual who is a board member of a
13pension fund, investment board, or retirement system may be
14employed by that pension fund, investment board, or retirement
15system at any time during his or her service and for a period
16of 12 months after he or she ceases to be a board member.
17    If a senior administrative staff position becomes vacant
18and no executive member of the staff is willing to accept the
19position, an individual serving as a board member may
20temporarily serve as an interim member of the senior
21administrative staff of the fund under the following
22conditions:
23        (1) the senior administrative staff position is vacant

 

 

SB3653- 2 -LRB102 22512 RPS 31653 b

1    and the board is conducting and documenting a public
2    search for a new permanent replacement who is not a member
3    of the board of trustees of the fund;
4        (2) a majority of the board of trustees of the fund
5    votes to designate a specific board member to serve in the
6    senior administrative staff position;
7        (3) the board-designated interim member of the senior
8    administrative staff does not receive any salary or
9    benefits associated with the position;
10        (4) the board-designated interim member of the senior
11    administrative staff serves for a period of not more than
12    6 months; and
13        (5) the trustee vacates his or her position as a
14    trustee while serving as an interim member of the senior
15    administrative staff.
16    (b) Except as otherwise provided in this Section, no
17individual who is an employee of a pension fund, investment
18board, or retirement system may serve as a trustee of that
19pension fund, investment board, or retirement system within 12
20months after his or her termination of employment.
21(Source: P.A. 102-603, eff. 1-1-22.)
 
22    Section 99. Effective date. This Act takes effect January
231, 2023.