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Full Text of HB2522  102nd General Assembly

HB2522 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB2522

 

Introduced 2/19/2021, by Rep. Stephanie A. Kifowit

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/22B-115

    Amends the Police Officers' Pension Investment Fund Article of the Illinois Pension Code. In a provision concerning the permanent board of trustees, removes language requiring that the holder of the office of chairperson alternate between certain members. Effective immediately.


LRB102 12527 RPS 17865 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2522LRB102 12527 RPS 17865 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 22B-115 as follows:
 
6    (40 ILCS 5/22B-115)
7    Sec. 22B-115. Board of Trustees of the Fund.
8    (a) No later than one month after the effective date of
9this amendatory Act of the 101st General Assembly or as soon
10thereafter as may be practicable, the Governor shall appoint,
11by and with the advice and consent of the Senate, a transition
12board of trustees consisting of 9 members as follows:
13        (1) three members representing municipalities who are
14    mayors, presidents, chief executive officers, chief
15    financial officers, or other officers, executives, or
16    department heads of municipalities and appointed from
17    among candidates recommended by the Illinois Municipal
18    League;
19        (2) three members representing participants and who
20    are participants, 2 of whom shall be appointed from among
21    candidates recommended by a statewide fraternal
22    organization representing more than 20,000 active and
23    retired police officers in the State of Illinois, and one

 

 

HB2522- 2 -LRB102 12527 RPS 17865 b

1    of whom shall be appointed from among candidates
2    recommended by a benevolent association representing sworn
3    police officers in the State of Illinois;
4        (3) two members representing beneficiaries and who are
5    beneficiaries, one of whom shall be appointed from among
6    candidates recommended by a statewide fraternal
7    organization representing more than 20,000 active and
8    retired police officers in the State of Illinois, and one
9    of whom shall be appointed from among candidates
10    recommended by a benevolent association representing sworn
11    police officers in the State of Illinois; and
12        (4) one member who is a representative of the Illinois
13    Municipal League.
14    The transition board members shall serve until the initial
15permanent board members are elected and qualified.
16    The transition board of trustees shall select the
17chairperson of the transition board of trustees from among the
18trustees for the duration of the transition board's tenure.
19    (b) The permanent board of trustees shall consist of 9
20members as follows:
21        (1) Three members who are mayors, presidents, chief
22    executive officers, chief financial officers, or other
23    officers, executives, or department heads of
24    municipalities that have participating pension funds and
25    are elected by the mayors and presidents of municipalities
26    that have participating pension funds.

 

 

HB2522- 3 -LRB102 12527 RPS 17865 b

1        (2) Three members who are participants of
2    participating pension funds and are elected by the
3    participants of participating pension funds.
4        (3) Two members who are beneficiaries of participating
5    pension funds and are elected by the beneficiaries of
6    participating pension funds.
7        (4) One member recommended by the Illinois Municipal
8    League who shall be appointed by the Governor with the
9    advice and consent of the Senate.
10    The permanent board of trustees shall select the
11chairperson of the permanent board of trustees from among the
12trustees for a term of 2 years. The holder of the office of
13chairperson shall alternate between a person elected or
14appointed under item (1) or (4) of this subsection (b) and a
15person elected under item (2) or (3) of this subsection (b).
16    (c) Each trustee shall qualify by taking an oath of office
17before the Secretary of State stating that he or she will
18diligently and honestly administer the affairs of the board
19and will not violate or knowingly permit the violation of any
20provision of this Article.
21    (d) Trustees shall receive no salary for service on the
22board but shall be reimbursed for travel expenses incurred
23while on business for the board according to the standards in
24effect for members of the Commission on Government Forecasting
25and Accountability.
26    A municipality employing a police officer who is an

 

 

HB2522- 4 -LRB102 12527 RPS 17865 b

1elected or appointed trustee of the board must allow
2reasonable time off with compensation for the police officer
3to conduct official business related to his or her position on
4the board, including time for travel. The board shall notify
5the municipality in advance of the dates, times, and locations
6of this official business. The Fund shall timely reimburse the
7municipality for the reasonable costs incurred that are due to
8the police officer's absence.
9    (e) No trustee shall have any interest in any brokerage
10fee, commission, or other profit or gain arising out of any
11investment directed by the board. This subsection does not
12preclude ownership by any member of any minority interest in
13any common stock or any corporate obligation in which an
14investment is directed by the board.
15    (f) Notwithstanding any provision or interpretation of law
16to the contrary, any member of the transition board may also be
17elected or appointed as a member of the permanent board.
18    Notwithstanding any provision or interpretation of law to
19the contrary, any trustee of a fund established under Article
203 of this Code may also be appointed as a member of the
21transition board or elected or appointed as a member of the
22permanent board.
23    The restriction in Section 3.1 of the Lobbyist
24Registration Act shall not apply to a member of the transition
25board appointed pursuant to item (4) of subsection (a) or to a
26member of the permanent board appointed pursuant to item (4)

 

 

HB2522- 5 -LRB102 12527 RPS 17865 b

1of subsection (b).
2(Source: P.A. 101-610, eff. 1-1-20.)
 
3    Section 99. Effective date. This Act takes effect upon
4becoming law.