Full Text of SB3404 96th General Assembly
SB3404eng 96TH GENERAL ASSEMBLY
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| AN ACT concerning public employee benefits.
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| Be it enacted by the People of the State of Illinois,
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| represented in the General Assembly:
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| Section 5. The State Employees Group Insurance Act of 1971 | 5 |
| is amended by changing Sections 6.9 and 6.10 as follows:
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| (5 ILCS 375/6.9)
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| Sec. 6.9. Health benefits for community college benefit | 8 |
| recipients and
community college dependent beneficiaries. | 9 |
| (a) Purpose. It is the purpose of this amendatory Act of | 10 |
| 1997 to establish
a uniform program of health benefits for | 11 |
| community college benefit recipients
and their dependent | 12 |
| beneficiaries under the administration of the Department of
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| Central Management Services.
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| (b) Creation of program. Beginning July 1, 1999, the | 15 |
| Department of
Central Management Services shall be responsible | 16 |
| for administering a program of
health benefits for community | 17 |
| college benefit recipients and community college
dependent | 18 |
| beneficiaries under this Section. The State Universities | 19 |
| Retirement
System and the boards of trustees of the various | 20 |
| community college districts
shall cooperate with the | 21 |
| Department in this endeavor.
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| (c) Eligibility. All community college benefit recipients | 23 |
| and community
college dependent beneficiaries shall be |
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| eligible to participate in the program
established under this | 2 |
| Section, without any interruption or delay in coverage
or | 3 |
| limitation as to pre-existing medical conditions. Eligibility | 4 |
| to
participate shall be determined by the appropriate community | 5 |
| college and the determination will be provided to the State | 6 |
| Universities Retirement System.
The State Universities | 7 |
| Retirement System may rely on this information in making | 8 |
| deductions from annuity payments for premiums. Eligibility | 9 |
| information shall be communicated to the Department of Central
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| Management Services in a format acceptable to the Department.
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| (d) Coverage. The health benefit coverage provided under | 12 |
| this Section
shall be a program of health, dental, and vision | 13 |
| benefits.
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| The program of health benefits under this Section may | 15 |
| include any or all of
the benefit limitations, including but | 16 |
| not limited to a reduction in benefits
based on eligibility for | 17 |
| federal medicare benefits, that are provided under
subsection | 18 |
| (a) of Section 6 of this Act for other health benefit programs | 19 |
| under
this Act.
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| (e) Insurance rates and premiums. The Director shall | 21 |
| determine the
insurance rates and premiums for community | 22 |
| college benefit recipients and
community college dependent | 23 |
| beneficiaries. Rates and premiums may be based
in part on age | 24 |
| and eligibility for federal Medicare coverage.
The Director | 25 |
| shall also determine premiums that will allow for the
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| establishment of an actuarially sound reserve for this program.
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| The cost of health benefits under the program shall be paid | 2 |
| as follows:
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| (1) For a community college benefit recipient, up to | 4 |
| 75% of the total
insurance rate shall be paid from the | 5 |
| Community College Health Insurance
Security Fund.
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| (2) The balance of the rate of insurance, including the | 7 |
| entire premium
for any coverage for community college | 8 |
| dependent beneficiaries that has been
elected, shall be | 9 |
| paid by deductions authorized by the community college
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| benefit recipient to be withheld from his or her monthly | 11 |
| annuity or benefit
payment from the State Universities | 12 |
| Retirement System; except that (i) if the
balance of the | 13 |
| cost of coverage exceeds the amount of the monthly annuity | 14 |
| or
benefit payment, the difference shall be paid directly | 15 |
| to the State
Universities Retirement System by the | 16 |
| community college benefit recipient, and
(ii) all or part | 17 |
| of the balance of the cost of coverage may, at the option | 18 |
| of
the board of trustees of the community college district, | 19 |
| be paid to
the State Universities Retirement System by the | 20 |
| board of the community college
district from which the | 21 |
| community college benefit recipient retired. The State
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| Universities Retirement System shall promptly deposit all | 23 |
| moneys withheld by or
paid to it under this subdivision | 24 |
| (e)(2) into the Community College Health
Insurance | 25 |
| Security Fund. These moneys shall not be considered assets | 26 |
| of the
State Universities Retirement System.
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| (f) Financing. All revenues arising from the | 2 |
| administration of the health
benefit program established under | 3 |
| this Section shall be deposited into the
Community College | 4 |
| Health Insurance Security Fund, which is hereby created as a
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| nonappropriated trust fund to be held outside the State | 6 |
| Treasury, with the
State Treasurer as custodian. Any interest | 7 |
| earned on moneys in the Community
College Health Insurance | 8 |
| Security Fund shall be deposited into the Fund.
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| Moneys in the Community College Health Insurance Security | 10 |
| Fund shall be used
only to pay the costs of the health benefit | 11 |
| program established under this
Section, including associated | 12 |
| administrative costs and the establishment of a
program | 13 |
| reserve. Beginning January 1, 1999,
the Department of Central | 14 |
| Management Services may make expenditures from the
Community | 15 |
| College Health Insurance Security Fund for those costs.
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| (g) Contract for benefits. The Director shall by contract, | 17 |
| self-insurance,
or otherwise make available the program of | 18 |
| health benefits for community
college benefit recipients and | 19 |
| their community college dependent beneficiaries
that is | 20 |
| provided for in this Section. The contract or other arrangement | 21 |
| for
the provision of these health benefits shall be on terms | 22 |
| deemed by the Director
to be in the best interest of the State | 23 |
| of Illinois and the community college
benefit recipients based | 24 |
| on, but not limited to, such criteria as
administrative cost, | 25 |
| service capabilities of the carrier or other contractor,
and | 26 |
| the costs of the benefits.
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| (h) Continuation of program. It is the intention of the | 2 |
| General Assembly
that the program of health benefits provided | 3 |
| under this Section be maintained
on an ongoing, affordable | 4 |
| basis. The program of health benefits provided under
this | 5 |
| Section may be amended by the State and is not intended to be a | 6 |
| pension or
retirement benefit subject to protection under | 7 |
| Article XIII, Section 5 of the
Illinois Constitution.
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| (i) Other health benefit plans. A health benefit plan | 9 |
| provided by a
community college district (other than a | 10 |
| community college district subject to
Article VII of the Public | 11 |
| Community College Act) under the terms of a
collective | 12 |
| bargaining agreement in effect on or prior to the effective | 13 |
| date of
this amendatory Act of 1997 shall continue in force | 14 |
| according to the terms of
that agreement, unless otherwise | 15 |
| mutually agreed by the parties to that
agreement and the | 16 |
| affected retiree.
A community college benefit recipient or | 17 |
| community college dependent
beneficiary whose coverage under | 18 |
| such a plan expires shall be eligible to begin
participating in | 19 |
| the program established under this Section without any
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| interruption or delay in coverage or limitation as to | 21 |
| pre-existing medical
conditions.
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| This Act does not prohibit any community college district | 23 |
| from offering
additional health benefits for its retirees or | 24 |
| their dependents or survivors.
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| (j) Nothing in this Section establishes a duty on the part | 26 |
| of the State Universities Retirement System to certify, verify, |
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| audit, or otherwise ensure the appropriateness or adequacy of | 2 |
| the information received from the community colleges. | 3 |
| (Source: P.A. 90-497, eff. 8-18-97; 90-655, eff. 7-30-98.)
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| (5 ILCS 375/6.10)
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| Sec. 6.10. Contributions to the Community College Health | 6 |
| Insurance
Security Fund.
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| (a) Beginning January 1, 1999, every active contributor of | 8 |
| the State
Universities Retirement System (established under | 9 |
| Article 15 of the Illinois
Pension Code) who (1) is a full-time | 10 |
| employee of a community college district
(other than a | 11 |
| community college district subject to Article VII of the Public
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| Community College Act)
or an association of community college | 13 |
| boards and (2) is not an employee as
defined in Section 3 of | 14 |
| this Act shall make contributions toward the cost of
community | 15 |
| college annuitant and survivor health benefits at the rate of | 16 |
| 0.50%
of salary.
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| These contributions shall be deducted by the employer and | 18 |
| paid to the State
Universities Retirement System as service | 19 |
| agent for the Department of Central
Management Services. The | 20 |
| System may use the same processes for collecting the
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| contributions required by this subsection that it uses to | 22 |
| collect the
contributions received from those employees under | 23 |
| Section 15-157 of the
Illinois Pension Code. An employer may | 24 |
| agree to pick up or pay the
contributions required under this | 25 |
| subsection on behalf of the employee;
such contributions shall |
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| be deemed to have been paid by the employee.
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| The State Universities Retirement System shall promptly | 3 |
| deposit all moneys
collected under this subsection (a) into the | 4 |
| Community College Health Insurance
Security Fund created in | 5 |
| Section 6.9 of this Act. The moneys collected under
this | 6 |
| Section shall be used only for the purposes authorized in | 7 |
| Section 6.9 of
this Act and shall not be considered to be | 8 |
| assets of the State Universities
Retirement System. | 9 |
| Contributions made under this Section are not transferable
to | 10 |
| other pension funds or retirement systems and are not | 11 |
| refundable upon
termination of service.
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| (b) Beginning January 1, 1999, every community college | 13 |
| district
(other than a community college district subject to | 14 |
| Article VII of the Public
Community College Act) or association
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| of community college boards that is an employer under the State | 16 |
| Universities
Retirement System shall contribute toward the | 17 |
| cost of the community college
health benefits provided under | 18 |
| Section 6.9 of this Act an amount equal to 0.50%
of the salary | 19 |
| paid to its full-time employees who participate in the State
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| Universities Retirement System and are not members as defined | 21 |
| in Section 3 of
this Act.
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| These contributions shall be paid by the employer to the | 23 |
| State Universities
Retirement System as service agent for the | 24 |
| Department of Central Management
Services. The System may use | 25 |
| the same processes for collecting the
contributions required by | 26 |
| this subsection that it uses to collect the
contributions |
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| received from those employers under Section 15-155 of the
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| Illinois Pension Code.
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| The State Universities Retirement System shall promptly | 4 |
| deposit all moneys
collected under this subsection (b) into the | 5 |
| Community College Health Insurance
Security Fund created in | 6 |
| Section 6.9 of this Act. The moneys collected under
this | 7 |
| Section shall be used only for the purposes authorized in | 8 |
| Section 6.9 of
this Act and shall not be considered to be | 9 |
| assets of the State Universities
Retirement System. | 10 |
| Contributions made under this Section are not transferable
to | 11 |
| other pension funds or retirement systems and are not | 12 |
| refundable upon
termination of service.
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| The Department of Healthcare and Family Services, or any | 14 |
| successor agency designated to procure healthcare contracts | 15 |
| pursuant to this Act, is authorized to establish funds, | 16 |
| separate accounts provided by any bank or banks as defined by | 17 |
| the Illinois Banking Act, or separate accounts provided by any | 18 |
| savings and loan association or associations as defined by the | 19 |
| Illinois Savings and Loan Act of 1985 to be held by the | 20 |
| Director, outside the State treasury, for the purpose of | 21 |
| receiving the transfer of moneys from the Community College | 22 |
| Health Insurance Security Fund. The Department may promulgate | 23 |
| rules further defining the methodology for the transfers. Any | 24 |
| interest earned by moneys in the funds or accounts shall inure | 25 |
| to the Community College Health Insurance Security Fund. The | 26 |
| transferred moneys, and interest accrued thereon, shall be used |
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| exclusively for transfers to administrative service | 2 |
| organizations or their financial institutions for payments of | 3 |
| claims to claimants and providers under the self-insurance | 4 |
| health plan. The transferred moneys, and interest accrued | 5 |
| thereon, shall not be used for any other purpose including, but | 6 |
| not limited to, reimbursement of administration fees due the | 7 |
| administrative service organization pursuant to its contract | 8 |
| or contracts with the Department.
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| (c) On or before November 15 of each year, the Board of | 10 |
| Trustees of the
State Universities Retirement System shall | 11 |
| certify to the Governor, the
Director of Central Management | 12 |
| Services, and the State
Comptroller its estimate of the total | 13 |
| amount of contributions to be paid under
subsection (a) of this | 14 |
| Section for the next fiscal year. Beginning in fiscal year | 15 |
| 2008, the amount certified shall be decreased or increased each | 16 |
| year by the amount that the actual active employee | 17 |
| contributions either fell short of or exceeded the estimate | 18 |
| used by the Board in making the certification for the previous | 19 |
| fiscal year. The State Universities Retirement System shall | 20 |
| calculate the amount of actual active employee contributions in | 21 |
| fiscal years 1999 through 2005. Based upon this calculation, | 22 |
| the fiscal year 2008 certification shall include an amount | 23 |
| equal to the cumulative amount that the actual active employee | 24 |
| contributions either fell short of or exceeded the estimate | 25 |
| used by the Board in making the certification for those fiscal | 26 |
| years. The certification
shall include a detailed explanation |
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| of the methods and information that the
Board relied upon in | 2 |
| preparing its estimate. As soon as possible after the
effective | 3 |
| date of this Section, the Board shall submit its estimate for | 4 |
| fiscal
year 1999.
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| (d) Beginning in fiscal year 1999, on the first day of each | 6 |
| month, or as
soon thereafter as may be practical, the State | 7 |
| Treasurer and the State
Comptroller shall transfer from the | 8 |
| General Revenue Fund to the Community
College Health Insurance | 9 |
| Security Fund 1/12 of the annual amount appropriated
for that | 10 |
| fiscal year to the State Comptroller for deposit into the | 11 |
| Community
College Health Insurance Security Fund under Section | 12 |
| 1.4 of the State Pension
Funds Continuing Appropriation Act.
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| (e) Except where otherwise specified in this Section, the | 14 |
| definitions
that apply to Article 15 of the Illinois Pension | 15 |
| Code apply to this Section.
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| (f) Nothing in this Section establishes a duty on the part | 17 |
| of the State Universities Retirement System to certify, verify, | 18 |
| audit, or otherwise ensure the appropriateness or adequacy of | 19 |
| the contributions made by or information received from the | 20 |
| community colleges. | 21 |
| (Source: P.A. 94-839, eff. 6-6-06; 95-632, eff. 9-25-07.)
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| Section 10. The Illinois Pension Code is amended by | 23 |
| changing Sections 1-150, 1A-108.5, and 15-159 as follows: | 24 |
| (40 ILCS 5/1-150)
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| Sec. 1-150. Approval of travel or educational mission. The | 2 |
| expenses for travel or educational missions of a board member | 3 |
| of a retirement system, pension fund, or investment board | 4 |
| created under this Code, except those whose investments are | 5 |
| restricted by Section 1-113.2 of this Code, must be approved by | 6 |
| a majority of the board prior to the travel or educational | 7 |
| mission. This Section does not apply to expenses necessarily | 8 |
| incurred in the State of Illinois for attending board meetings, | 9 |
| board committee meetings, ethics training, or fiduciary | 10 |
| training as a trustee of the retirement system, pension fund, | 11 |
| or investment board.
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| (Source: P.A. 96-6, eff. 4-3-09.) | 13 |
| (40 ILCS 5/1A-108.5) | 14 |
| Sec. 1A-108.5. Economic opportunity investments.
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| (a) For the purposes of this Section: | 16 |
| "Economic opportunity investment" means a qualified | 17 |
| investment, managed passively or actively by the pension fund, | 18 |
| that promotes economic development within the State of Illinois | 19 |
| by providing financially prudent investment opportunities in | 20 |
| or through the use of (a) Illinois businesses or (b) | 21 |
| Illinois-based projects that promote the economy of the State | 22 |
| or a region of the State, including without limitation | 23 |
| promotion of venture capital programs, coal and other natural | 24 |
| resource development, tourism development, infrastructure | 25 |
| development, real estate development, and job development |
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| within the State of Illinois, while producing a competitive | 2 |
| rate of return commensurate with the risk of investment. | 3 |
| "Illinois business" means a business, including an | 4 |
| investment adviser, that is headquartered in Illinois. | 5 |
| "Illinois-based project" means an individual project of a | 6 |
| business, including the provision of products and investment | 7 |
| and other services to the pension fund, that will result in the | 8 |
| conduct of business within the State, the employment of | 9 |
| individuals within the State, or the acquisition of real | 10 |
| property located within the State.
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| (b) It is the public policy of the State of Illinois to | 12 |
| encourage the pension funds, and any State entity investing | 13 |
| funds on behalf of pension funds, to promote the economy of | 14 |
| Illinois through the use of economic opportunity investments to | 15 |
| the greatest extent feasible within the bounds of financial and | 16 |
| fiduciary prudence.
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| (c) Each pension fund, except pension funds created under | 18 |
| Articles 3 and 4 of this Code, shall submit a report to the | 19 |
| Governor and the General Assembly by September 1 of each year, | 20 |
| beginning in 2009, that identifies the economic opportunity | 21 |
| investments made by the fund, the primary location of the | 22 |
| business or project, the percentage of the fund's assets in | 23 |
| economic opportunity investments, and the actions that the fund | 24 |
| has undertaken to increase the use of economic opportunity | 25 |
| investments to the greatest extent feasible within the bounds | 26 |
| of financial and fiduciary prudence . |
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| (d) Pension funds created under Articles 2, 14, 15, 16, and | 2 |
| 18 of this Act, and any State agency investing funds on behalf | 3 |
| of those pension funds, must make reasonable efforts to invest | 4 |
| in economic opportunity investments. | 5 |
| (e) In making economic opportunity investments, trustees | 6 |
| and fiduciaries must comply with the relevant requirements and | 7 |
| restrictions set forth in Sections 1-109, 1-109.1, 1-109.2, | 8 |
| 1-110, and 1-111 of this Code. Economic opportunity investments | 9 |
| that otherwise comply with this Code shall not be deemed | 10 |
| imprudent solely because they are investments in an Illinois | 11 |
| business or Illinois-based project.
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| (Source: P.A. 96-753, eff. 8-25-09.)
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| (40 ILCS 5/15-159) (from Ch. 108 1/2, par. 15-159)
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| Sec. 15-159. Board created. | 15 |
| (a) A board of trustees constituted as provided in
this | 16 |
| Section shall administer this System. The board shall be known | 17 |
| as the
Board of Trustees of the State Universities Retirement | 18 |
| System.
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| (b) Until July 1, 1995, the Board of Trustees shall be | 20 |
| constituted
as follows:
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| Two trustees shall be members of the Board of Trustees of | 22 |
| the
University of Illinois, one shall be a member of
the Board | 23 |
| of Trustees of Southern Illinois University, one shall be a | 24 |
| member
of the Board of Trustees of Chicago State University, | 25 |
| one shall be a member of
the Board of Trustees of Eastern |
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| Illinois University, one shall be a member of
the Board of | 2 |
| Trustees of Governors State University, one shall be a member | 3 |
| of
the Board of Trustees of Illinois State University, one | 4 |
| shall be a member of
the Board of Trustees of Northeastern | 5 |
| Illinois University, one shall be a
member of the Board of | 6 |
| Trustees of Northern Illinois University, one shall be a
member | 7 |
| of the Board of Trustees of Western Illinois University, and | 8 |
| one shall
be a member of the Illinois Community College Board, | 9 |
| selected in each case by
their respective boards, and 2 shall
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| be participants of the system appointed by the Governor for a 6 | 11 |
| year term with
the first appointment made pursuant to this | 12 |
| amendatory Act of 1984 to be
effective September 1, 1985, and | 13 |
| one shall be a participant appointed by the
Illinois Community | 14 |
| College Board for a 6 year term, and one shall be a
participant | 15 |
| appointed by the Board of Trustees of the University of | 16 |
| Illinois
for a 6 year term, and one shall be a participant or | 17 |
| annuitant of the system
who is a senior citizen age 60 or older | 18 |
| appointed by the Governor for a 6 year
term with the first | 19 |
| appointment to be effective September 1, 1985.
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| The terms of all trustees holding office under this | 21 |
| subsection (b) on
June 30, 1995 shall terminate at the end of | 22 |
| that day and the Board shall
thereafter be constituted as | 23 |
| provided in subsection (c).
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| (c) Beginning July 1, 1995, the Board of Trustees shall be
| 25 |
| constituted as follows:
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| The Board shall consist of 9 trustees appointed by the |
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| Governor. Two of the
trustees, designated at the time of | 2 |
| appointment, shall be participants of the
System. Two of the | 3 |
| trustees, designated at the time of appointment, shall be
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| annuitants of the System who are receiving retirement annuities | 5 |
| under this
Article. The 5 remaining trustees may, but need not, | 6 |
| be participants or
annuitants of the System.
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| The term of office of trustees appointed under this | 8 |
| subsection (c)
shall be 6 years, beginning on July 1. However, | 9 |
| of the initial trustees
appointed under this subsection (c), 3 | 10 |
| shall be appointed for terms of 2 years,
3 shall be appointed | 11 |
| for terms of 4 years, and 3 shall be appointed for terms
of 6 | 12 |
| years, to be designated by the Governor at the time of | 13 |
| appointment.
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| The terms of all trustees holding office under this | 15 |
| subsection (c) on the effective date of this amendatory Act of | 16 |
| the 96th General Assembly shall terminate on that effective | 17 |
| date. The Governor shall make nominations for appointment under | 18 |
| this Section within 60 days after the effective date of this | 19 |
| amendatory Act of the 96th General Assembly. A trustee sitting | 20 |
| on the board on the effective date of this amendatory Act of | 21 |
| the 96th General Assembly may not hold over in office for more | 22 |
| than 90 days after the effective date of this amendatory Act of | 23 |
| the 96th General Assembly. Nothing in this Section shall | 24 |
| prevent the Governor from making a temporary appointment or | 25 |
| nominating a trustee holding office on the day before the | 26 |
| effective date of this amendatory Act of the 96th General |
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| Assembly. | 2 |
| (d) Beginning on the 90th day after the effective date of | 3 |
| this amendatory Act of the 96th General Assembly, the Board of | 4 |
| Trustees shall be constituted as follows: | 5 |
| (1) The Chairperson of the Board of Higher Education, | 6 |
| who shall act as president chairperson of this Board. | 7 |
| (2) Four trustees appointed by the Governor with the | 8 |
| advice and consent of the Senate who may not be members of | 9 |
| the system or hold an elective State office and who shall | 10 |
| serve for a term of 6 years, except that the terms of the | 11 |
| initial appointees under this subsection (d) shall be as | 12 |
| follows: 2 for a term of 3 years , expiring on June 30, 2012 | 13 |
| and 2 for a term of 6 years , expiring on June 30, 2015 . | 14 |
| (3) Four active participants of the system to be | 15 |
| elected from the contributing membership of the system by | 16 |
| the
contributing members, no more than 2 of which may be | 17 |
| from any of the University of Illinois campuses, who shall | 18 |
| serve for a term of 6 years, except that the terms of the | 19 |
| initial electees shall be as follows: 2 for a term of 3 | 20 |
| years and 2 for a term of 6 years. | 21 |
| (4) Two annuitants of
the system who have been | 22 |
| annuitants for at least one full year, to be
elected from | 23 |
| and by the annuitants of the system, no more than one of | 24 |
| which may be from any of the University of Illinois | 25 |
| campuses, who shall serve for a term of 6 years, except | 26 |
| that the terms of the initial electees shall be as follows: |
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| one for a term of 3 years and one for a term of 6 years. | 2 |
| For the purposes of this Section, the Governor may make a | 3 |
| nomination and the Senate may confirm the nominee in advance of | 4 |
| the commencement of the nominee's term of office. | 5 |
| (e) The 6 elected trustees shall be elected within 90 days | 6 |
| after the effective date of this amendatory Act of the 96th | 7 |
| General Assembly for a term beginning on the 90th day after the | 8 |
| effective date of this amendatory Act. Trustees shall be | 9 |
| elected thereafter as terms expire for a 6-year term beginning | 10 |
| July 1 15 next following their election, and such election | 11 |
| shall be concluded held on May 1, or on May 2 when May 1 falls | 12 |
| on a Sunday. The board may establish rules for the election of | 13 |
| trustees to implement the provisions of this amendatory Act of | 14 |
| the 96th General Assembly and for future elections. Candidates | 15 |
| for the participating trustee shall be nominated by petitions | 16 |
| in writing, signed by not less than 400 participants with their | 17 |
| addresses shown opposite their names. Candidates for the | 18 |
| annuitant trustee shall be nominated by petitions in writing, | 19 |
| signed by not less than 100 annuitants with their addresses | 20 |
| shown opposite their names. If there is more than one qualified | 21 |
| nominee for each elected trustee position , then the board shall | 22 |
| conduct a secret ballot election by mail for that trustee, in | 23 |
| accordance with rules as established by the board. If there is | 24 |
| only one qualified person nominated by petition for each | 25 |
| elected trustee position , then the election as required by this | 26 |
| Section shall not be conducted for that trustee and the board |
|
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| 1 |
| shall declare such nominee duly elected. A vacancy occurring in | 2 |
| the elective membership of the board shall be filled with a | 3 |
| qualified person for the remainder of the unexpired term by the | 4 |
| elected trustees serving on the board for the remainder of the | 5 |
| term . | 6 |
| (f) A vacancy occurring in the appointed membership of on | 7 |
| the board of trustees caused by resignation,
death, expiration | 8 |
| of term of office, or other reason shall be filled by a
| 9 |
| qualified person appointed by the Governor for the remainder of | 10 |
| the unexpired
term.
| 11 |
| (g) Trustees (other than the trustees incumbent on June 30, | 12 |
| 1995 or as provided in subsection (c) of this Section)
shall | 13 |
| continue in office until their respective successors are | 14 |
| appointed
and have qualified, except that a trustee appointed | 15 |
| to one of the
participant positions shall be disqualified | 16 |
| immediately upon the termination of
his or her status as a | 17 |
| participant and a trustee appointed to one of the
annuitant | 18 |
| positions shall be disqualified immediately upon the | 19 |
| termination of
his or her status as an annuitant receiving a | 20 |
| retirement annuity.
| 21 |
| (h) Each trustee must take an oath of office
before a | 22 |
| notary public of this State and shall qualify as a trustee upon | 23 |
| the
presentation to the board of a certified copy of the oath. | 24 |
| The oath must state
that the person will diligently and | 25 |
| honestly administer the affairs of the
retirement system, and | 26 |
| will not knowingly violate or wilfully permit to be
violated |
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LRB096 17906 AMC 33274 b |
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| 1 |
| any provisions of this Article.
| 2 |
| Each trustee shall serve without compensation but shall be | 3 |
| reimbursed for
expenses necessarily incurred in attending | 4 |
| board meetings and carrying out his
or her duties as a trustee | 5 |
| or officer of the system.
| 6 |
| (i) This amendatory Act of 1995 is intended to supersede | 7 |
| the changes made
to this Section by Public Act 89-4.
| 8 |
| (Source: P.A. 96-6, eff. 4-3-09; revised 4-14-09.)
| 9 |
| Section 99. Effective date. This Act takes effect upon | 10 |
| becoming law.
|
|