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(40 ILCS 5/7-174) (from Ch. 108 1/2, par. 7-174)
Sec. 7-174. Board created.
(a) A board of 8 members shall
constitute a board of trustees authorized to carry out the provisions of
this Article. Each trustee shall be a participating employee of a
participating municipality or participating instrumentality or an annuitant
of the Fund and no person shall be eligible to become a trustee after January
1, 1979 who does not have the minimum service credit in this Fund to qualify for a pension.
(b) The board shall consist of representatives of various groups as
follows:
1. 4 trustees shall be a chief executive officer, |
| chief finance officer, or other officer, executive or department head of a participating municipality or participating instrumentality, and each such trustee shall be designated as an executive trustee.
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2. 3 trustees shall be employees of a participating
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| municipality or participating instrumentality and each such trustee shall be designated as an employee trustee. A person who meets the criteria to be an executive trustee may not serve as an employee trustee.
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3. One trustee shall be an annuitant of the Fund, who
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| shall be designated the annuitant trustee.
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(c) A person elected as a trustee shall qualify as a trustee, after
declaration by the board that he has been duly elected, upon taking and
subscribing to the constitutional oath of office and filing same in the
office of the Fund.
(d) The term of office of each trustee shall begin upon January 1 of
the year following the year in which he is elected and shall continue
for a period of 5 years and until a successor has been elected and
qualified, or until prior resignation, death, incapacity or
disqualification.
(e) Any elected trustee (other than the annuitant trustee) shall be
disqualified immediately upon termination of employment with all participating
municipalities and instrumentalities thereof or upon any change in status which
removes any such trustee from all employments within the group he represents.
The annuitant trustee shall be disqualified upon termination of his or her
annuity.
(e-5) Notwithstanding any other provision, an elected trustee shall not be considered disqualified due to termination of participation under subsection (e) if:
(1) he or she thereafter begins participation with
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| a different participating employer;
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(2) there is no gap in service credit established
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(3) the trustee continues to meet all eligibility
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| requirements under subsection (b) for the same type of trustee position.
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(f) The trustees shall fill any vacancy in the board by appointment,
for the period until the next election of trustees, or, if the remaining
term is less than 2 years, for the remainder of the term, and until his
successor has been elected and qualified.
(g) Trustees shall serve without compensation, but shall be
reimbursed for any reasonable expenses incurred in attending meetings of
the board and in performing duties on behalf of the Fund and for the
amount of any earnings withheld by any employing municipality or
participating instrumentality because of attendance at any board
meeting.
(h) Each trustee shall be entitled to
one vote on any and all actions before the board. At least 5 concurring votes
shall be necessary for every decision or action by the board at any of its
meetings. No decision or action shall become effective unless presented and so
approved at a regular or duly called special meeting of the board.
(Source: P.A. 102-479, eff. 8-20-21; 103-464, eff. 8-4-23.)
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