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92_SB0339
LRB9205431EGfg
1 AN ACT in relation to public employee benefits.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Pension Code is amended by
5 changing Section 5-178 as follows:
6 (40 ILCS 5/5-178) (from Ch. 108 1/2, par. 5-178)
7 Sec. 5-178. Board created. A board of 8 members shall
8 constitute a board of trustees authorized to administer the
9 provisions of this Article. The board shall be known as the
10 Retirement Board of the Policemen's Annuity and Benefit Fund
11 of the city.
12 The board shall consist of 4 persons appointed by the
13 mayor of the city; 3 policemen employed by the city, at least
14 one of whom shall be a lieutenant or of a rank superior to
15 lieutenant, one of whom shall be of the rank of sergeant, and
16 one of whom shall be of the rank of investigator or a rank
17 inferior to that rank; and one annuitant of the fund, or a
18 pensioner of any prior police pension fund in operation, by
19 authority of law, in the city. Children less than age 18
20 shall not be eligible for board membership. The term of
21 office for all members shall be 3 years; except that of the
22 members elected in 2002, the member who is of the rank of
23 lieutenant or a rank superior to that rank shall be elected
24 for a term of one year, and the member who is of the rank of
25 sergeant shall be elected for a term of 2 years. Upon his
26 election, the member holding the rank of investigator or a
27 rank inferior to that rank shall be detailed by the Police
28 Superintendent to the office of the board for the duration of
29 his term as trustee.
30 The members of a retirement board holding office in a
31 city at the time this Article becomes effective, including
-2- LRB9205431EGfg
1 elected, appointed and ex-officio members, shall continue in
2 office until the expiration of their respective terms or
3 appointment and until their respective successors are elected
4 or appointed, and qualified.
5 At least 30 days prior to the expiration of the term of
6 office of each appointive member the mayor shall appoint a
7 successor for a term of 3 years.
8 The board shall conduct a regular election at least 30
9 days prior to the expiration of the terms of the active
10 policemen members and annuitant or beneficiary members for
11 election of a successor of each such member for a term of 3
12 years.
13 Any member of the board so appointed or elected shall
14 continue in office until his successor is selected and has
15 qualified.
16 Any person so appointed or elected shall qualify by
17 taking an oath of office. A copy thereof shall be kept in the
18 office of the city clerk of the city.
19 (Source: P.A. 86-273.)
20 Section 99. Effective date. This Act takes effect upon
21 becoming law.