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| 1 | AN ACT concerning public employee benefits.
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| 2 | Be it enacted by the People of the State of Illinois,
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| 3 | represented in the General Assembly:
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| 4 | Section 5. The Illinois Pension Code is amended by changing | ||||||
| 5 | Section 3-128 as follows:
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| 6 | (40 ILCS 5/3-128) (from Ch. 108 1/2, par. 3-128)
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| 7 | Sec. 3-128. Board created. A board of 5 members shall | ||||||
| 8 | constitute a board of trustees to administer the
pension fund | ||||||
| 9 | and to designate the beneficiaries thereof. The board shall be
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| 10 | known as the "Board of Trustees of the Police Pension Fund"
of | ||||||
| 11 | the municipality.
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| 12 | Two members of the board shall be appointed by the mayor or | ||||||
| 13 | president of
the board of trustees of the municipality | ||||||
| 14 | involved. The 3rd and 4th
members of the board shall be elected | ||||||
| 15 | from the active participants of
the pension fund by such active
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| 16 | participants. The 5th member shall be elected by and from the
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| 17 | beneficiaries; however, if there are no beneficiaries | ||||||
| 18 | available and willing to serve as the 5th member, then the 5th | ||||||
| 19 | member may be elected from the active participants of
the | ||||||
| 20 | pension fund by the
beneficiaries.
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| 21 | One of the members appointed
by the mayor or president of | ||||||
| 22 | the board of trustees shall serve for
one year beginning on the | ||||||
| 23 | 2nd Tuesday in May
after the municipality comes under this | ||||||
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| 1 | Article. The other
appointed member shall serve for 2 years | ||||||
| 2 | beginning on the same date. Their
successors shall serve for 2
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| 3 | years each or until their successors are appointed and | ||||||
| 4 | qualified.
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| 5 | The election for board members
shall be held biennially on | ||||||
| 6 | the 3rd Monday in April, at such place or
places in the | ||||||
| 7 | municipality and under the Australian ballot system and such
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| 8 | other regulations as shall be prescribed by the appointed | ||||||
| 9 | members of the
board.
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| 10 | The active pension fund participants shall be entitled to | ||||||
| 11 | vote only
for the active participant members of the board. All | ||||||
| 12 | beneficiaries of
legal age may vote only for the member chosen | ||||||
| 13 | from among the
beneficiaries. No person shall be entitled to | ||||||
| 14 | cast more than one ballot at
such election. The term of elected | ||||||
| 15 | members shall be 2 years,
beginning on the 2nd Tuesday of the | ||||||
| 16 | first May after the election.
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| 17 | Upon the death, resignation or inability to act of any | ||||||
| 18 | elected board
member, his or her successor shall be elected for | ||||||
| 19 | the
unexpired term at a special election, to be called by the | ||||||
| 20 | board and
conducted in the same manner as the regular biennial | ||||||
| 21 | election.
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| 22 | Members of the board shall neither receive nor have any | ||||||
| 23 | right to
receive any salary from the pension fund for services | ||||||
| 24 | performed as trustees
in that office.
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| 25 | (Source: P.A. 83-1440.)
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| 26 | Section 99. Effective date. This Act takes effect upon | ||||||
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| 1 | becoming law.
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