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(40 ILCS 5/1-109.5)
Prohibition on employment for board members.
Except as otherwise provided in this Section and in accordance with Section 5-45 of the State Officials and Employees Ethics Act, no individual who is a board member of a pension fund, investment board, or retirement system may be employed by that pension fund, investment board, or retirement system at any time during his or her service and for a period of 12 months after he or she ceases to be a board member.
If a senior administrative staff position becomes vacant and no executive member of the staff is willing to accept the position, an individual serving as a board member may temporarily serve as an interim member of the senior administrative staff of the fund under the following conditions:
(1) the senior administrative staff position is
vacant and the board is conducting and documenting a public search for a new permanent replacement who is not a member of the board of trustees of the fund;
(2) a majority of the board of trustees of the fund
votes to designate a specific board member to serve in the senior administrative staff position;
(3) the board-designated interim member of the senior
administrative staff does not receive any salary or benefits associated with the position;
(4) the board-designated interim member of the senior
administrative staff serves for a period of not more than 6 months; and
(5) the trustee vacates his or her position as a
trustee while serving as an interim member of the senior administrative staff.
(Source: P.A. 102-603, eff. 1-1-22