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Illinois Senate Bill SB2101

Illinois 2023-2024 Regular Session

Illinois Senate Bill SB2101 Compare Versions

Only one version of the bill is available at this time.
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11 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB2101 Introduced 2/9/2023, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED: 40 ILCS 5/22C-11540 ILCS 5/22C-11640 ILCS 5/22C-11940 ILCS 5/22C-123 Amends the Firefighters' Pension Investment Fund Article of the Illinois Pension Code. Provides that a trustee shall qualify by taking an oath of office before the Secretary of State or the Board's appointed legal counsel (instead of only the Secretary of State). In a provision concerning reimbursement for travel expenses for trustees, removes a reference to the standards in effect for members of the Commission on Government Forecasting and Accountability. In a provision concerning voting for trustees by participants and beneficiaries, removes language requiring the ballot envelope to have a certificate stating that the person voting the ballot is entitled to vote. Provides that a trustee appointed to fill the vacancy of an elected trustee shall serve until a successor is elected. Removes language providing that for a vacancy of an elected trustee occurring with an unexpired term of 6 months or more, an election shall be conducted for the vacancy. Makes a conforming change. Provides that special elections to fill the remainder of an unexpired term vacated by an elected trustee shall be held concurrently with and in the same manner as the next regular election for an elected trustee position. Provides that a copy of the rules adopted by the Fund shall be posted on the Fund's website (instead of filed with the Secretary of State and the Department of Insurance). Makes changes concerning indemnification of the Fund, the board, and the officers and employees of the Fund. Makes other changes. LRB103 30747 RPS 57226 b A BILL FOR 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB2101 Introduced 2/9/2023, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED: 40 ILCS 5/22C-11540 ILCS 5/22C-11640 ILCS 5/22C-11940 ILCS 5/22C-123 40 ILCS 5/22C-115 40 ILCS 5/22C-116 40 ILCS 5/22C-119 40 ILCS 5/22C-123 Amends the Firefighters' Pension Investment Fund Article of the Illinois Pension Code. Provides that a trustee shall qualify by taking an oath of office before the Secretary of State or the Board's appointed legal counsel (instead of only the Secretary of State). In a provision concerning reimbursement for travel expenses for trustees, removes a reference to the standards in effect for members of the Commission on Government Forecasting and Accountability. In a provision concerning voting for trustees by participants and beneficiaries, removes language requiring the ballot envelope to have a certificate stating that the person voting the ballot is entitled to vote. Provides that a trustee appointed to fill the vacancy of an elected trustee shall serve until a successor is elected. Removes language providing that for a vacancy of an elected trustee occurring with an unexpired term of 6 months or more, an election shall be conducted for the vacancy. Makes a conforming change. Provides that special elections to fill the remainder of an unexpired term vacated by an elected trustee shall be held concurrently with and in the same manner as the next regular election for an elected trustee position. Provides that a copy of the rules adopted by the Fund shall be posted on the Fund's website (instead of filed with the Secretary of State and the Department of Insurance). Makes changes concerning indemnification of the Fund, the board, and the officers and employees of the Fund. Makes other changes. LRB103 30747 RPS 57226 b LRB103 30747 RPS 57226 b A BILL FOR
22 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB2101 Introduced 2/9/2023, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED:
33 40 ILCS 5/22C-11540 ILCS 5/22C-11640 ILCS 5/22C-11940 ILCS 5/22C-123 40 ILCS 5/22C-115 40 ILCS 5/22C-116 40 ILCS 5/22C-119 40 ILCS 5/22C-123
44 40 ILCS 5/22C-115
55 40 ILCS 5/22C-116
66 40 ILCS 5/22C-119
77 40 ILCS 5/22C-123
88 Amends the Firefighters' Pension Investment Fund Article of the Illinois Pension Code. Provides that a trustee shall qualify by taking an oath of office before the Secretary of State or the Board's appointed legal counsel (instead of only the Secretary of State). In a provision concerning reimbursement for travel expenses for trustees, removes a reference to the standards in effect for members of the Commission on Government Forecasting and Accountability. In a provision concerning voting for trustees by participants and beneficiaries, removes language requiring the ballot envelope to have a certificate stating that the person voting the ballot is entitled to vote. Provides that a trustee appointed to fill the vacancy of an elected trustee shall serve until a successor is elected. Removes language providing that for a vacancy of an elected trustee occurring with an unexpired term of 6 months or more, an election shall be conducted for the vacancy. Makes a conforming change. Provides that special elections to fill the remainder of an unexpired term vacated by an elected trustee shall be held concurrently with and in the same manner as the next regular election for an elected trustee position. Provides that a copy of the rules adopted by the Fund shall be posted on the Fund's website (instead of filed with the Secretary of State and the Department of Insurance). Makes changes concerning indemnification of the Fund, the board, and the officers and employees of the Fund. Makes other changes.
99 LRB103 30747 RPS 57226 b LRB103 30747 RPS 57226 b
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1111 A BILL FOR
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1414 1 AN ACT concerning public employee benefits.
1515 2 Be it enacted by the People of the State of Illinois,
1616 3 represented in the General Assembly:
1717 4 Section 5. The Illinois Pension Code is amended by
1818 5 changing Sections 22C-115, 22C-116, 22C-119, and 22C-123 as
1919 6 follows:
2020 7 (40 ILCS 5/22C-115)
2121 8 Sec. 22C-115. Board of Trustees of the Fund.
2222 9 (a) No later than February 1, 2020 (one month after the
2323 10 effective date of Public Act 101-610) or as soon thereafter as
2424 11 may be practicable, the Governor shall appoint, by and with
2525 12 the advice and consent of the Senate, a transition board of
2626 13 trustees consisting of 9 members as follows:
2727 14 (1) three members representing municipalities and fire
2828 15 protection districts who are mayors, presidents, chief
2929 16 executive officers, chief financial officers, or other
3030 17 officers, executives, or department heads of
3131 18 municipalities or fire protection districts and appointed
3232 19 from among candidates recommended by the Illinois
3333 20 Municipal League;
3434 21 (2) three members representing participants who are
3535 22 participants and appointed from among candidates
3636 23 recommended by the statewide labor organization
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4040 103RD GENERAL ASSEMBLY State of Illinois 2023 and 2024 SB2101 Introduced 2/9/2023, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED:
4141 40 ILCS 5/22C-11540 ILCS 5/22C-11640 ILCS 5/22C-11940 ILCS 5/22C-123 40 ILCS 5/22C-115 40 ILCS 5/22C-116 40 ILCS 5/22C-119 40 ILCS 5/22C-123
4242 40 ILCS 5/22C-115
4343 40 ILCS 5/22C-116
4444 40 ILCS 5/22C-119
4545 40 ILCS 5/22C-123
4646 Amends the Firefighters' Pension Investment Fund Article of the Illinois Pension Code. Provides that a trustee shall qualify by taking an oath of office before the Secretary of State or the Board's appointed legal counsel (instead of only the Secretary of State). In a provision concerning reimbursement for travel expenses for trustees, removes a reference to the standards in effect for members of the Commission on Government Forecasting and Accountability. In a provision concerning voting for trustees by participants and beneficiaries, removes language requiring the ballot envelope to have a certificate stating that the person voting the ballot is entitled to vote. Provides that a trustee appointed to fill the vacancy of an elected trustee shall serve until a successor is elected. Removes language providing that for a vacancy of an elected trustee occurring with an unexpired term of 6 months or more, an election shall be conducted for the vacancy. Makes a conforming change. Provides that special elections to fill the remainder of an unexpired term vacated by an elected trustee shall be held concurrently with and in the same manner as the next regular election for an elected trustee position. Provides that a copy of the rules adopted by the Fund shall be posted on the Fund's website (instead of filed with the Secretary of State and the Department of Insurance). Makes changes concerning indemnification of the Fund, the board, and the officers and employees of the Fund. Makes other changes.
4747 LRB103 30747 RPS 57226 b LRB103 30747 RPS 57226 b
4848 LRB103 30747 RPS 57226 b
4949 A BILL FOR
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5858 40 ILCS 5/22C-123
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7777 1 representing firefighters employed by at least 85
7878 2 municipalities that is affiliated with the Illinois State
7979 3 Federation of Labor;
8080 4 (3) one member representing beneficiaries who is a
8181 5 beneficiary and appointed from among the candidate or
8282 6 candidates recommended by the statewide labor organization
8383 7 representing firefighters employed by at least 85
8484 8 municipalities that is affiliated with the Illinois State
8585 9 Federation of Labor;
8686 10 (4) one member recommended by the Illinois Municipal
8787 11 League; and
8888 12 (5) one member who is a participant recommended by the
8989 13 statewide labor organization representing firefighters
9090 14 employed by at least 85 municipalities and that is
9191 15 affiliated with the Illinois State Federation of Labor.
9292 16 The transition board members shall serve until the initial
9393 17 permanent board members are elected and qualified.
9494 18 The transition board of trustees shall select the
9595 19 chairperson of the transition board of trustees from among the
9696 20 trustees for the duration of the transition board's tenure.
9797 21 (b) The permanent board of trustees shall consist of 9
9898 22 members comprised as follows:
9999 23 (1) Three members who are mayors, presidents, chief
100100 24 executive officers, chief financial officers, or other
101101 25 officers, executives, or department heads of
102102 26 municipalities or fire protection districts that have
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113113 1 participating pension funds and are elected by the mayors
114114 2 and presidents of municipalities or fire protection
115115 3 districts that have participating pension funds.
116116 4 (2) Three members who are participants of
117117 5 participating pension funds and elected by the
118118 6 participants of participating pension funds.
119119 7 (3) One member who is a beneficiary of a participating
120120 8 pension fund and is elected by the beneficiaries of
121121 9 participating pension funds.
122122 10 (4) One member recommended by the Illinois Municipal
123123 11 League who shall be appointed by the Governor with the
124124 12 advice and consent of the Senate.
125125 13 (5) One member recommended by the statewide labor
126126 14 organization representing firefighters employed by at
127127 15 least 85 municipalities and that is affiliated with the
128128 16 Illinois State Federation of Labor who shall be appointed
129129 17 by the Governor with the advice and consent of the Senate.
130130 18 The permanent board of trustees shall select the
131131 19 chairperson of the permanent board of trustees from among the
132132 20 trustees for a term of 2 years. The holder of the office of
133133 21 chairperson shall alternate between a person elected or
134134 22 appointed under item (1) or (4) of this subsection (b) and a
135135 23 person elected or appointed under item (2), (3), or (5) of this
136136 24 subsection (b).
137137 25 (c) Each trustee shall qualify by taking an oath of office
138138 26 before the Secretary of State or the Board's appointed legal
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149149 1 counsel stating that he or she will diligently and honestly
150150 2 administer the affairs of the board and will not violate or
151151 3 knowingly permit the violation of any provision of this
152152 4 Article.
153153 5 (d) Trustees shall receive no salary for service on the
154154 6 board but shall be reimbursed for travel expenses incurred
155155 7 while on business for the board according to the standards in
156156 8 effect for members of the Commission on Government Forecasting
157157 9 and Accountability.
158158 10 A municipality or fire protection district employing a
159159 11 firefighter who is an elected or appointed trustee of the
160160 12 board must allow reasonable time off with compensation for the
161161 13 firefighter to conduct official business related to his or her
162162 14 position on the board, including time for travel. The board
163163 15 shall notify the municipality or fire protection district in
164164 16 advance of the dates, times, and locations of this official
165165 17 business. The Fund shall timely reimburse the municipality or
166166 18 fire protection district for the reasonable costs incurred
167167 19 that are due to the firefighter's absence.
168168 20 (e) No trustee shall have any interest in any brokerage
169169 21 fee, commission, or other profit or gain arising out of any
170170 22 investment directed by the board. This subsection does not
171171 23 preclude ownership by any member of any minority interest in
172172 24 any common stock or any corporate obligation in which an
173173 25 investment is directed by the board.
174174 26 (f) Notwithstanding any provision or interpretation of law
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185185 1 to the contrary, any member of the transition board may also be
186186 2 elected or appointed as a member of the permanent board.
187187 3 Notwithstanding any provision or interpretation of law to
188188 4 the contrary, any trustee of a fund established under Article
189189 5 4 of this Code may also be appointed as a member of the
190190 6 transition board or elected or appointed as a member of the
191191 7 permanent board.
192192 8 The restriction in Section 3.1 of the Lobbyist
193193 9 Registration Act shall not apply to a member of the transition
194194 10 board appointed pursuant to items (4) or (5) of subsection (a)
195195 11 or to a member of the permanent board appointed pursuant to
196196 12 items (4) or (5) of subsection (b).
197197 13 (Source: P.A. 101-610, eff. 1-1-20; 102-558, eff. 8-20-21.)
198198 14 (40 ILCS 5/22C-116)
199199 15 Sec. 22C-116. Conduct and administration of elections;
200200 16 terms of office.
201201 17 (a) For the election of the permanent trustees, the
202202 18 transition board shall administer the initial elections and
203203 19 the permanent board shall administer all subsequent elections.
204204 20 Each board shall develop and implement such procedures as it
205205 21 determines to be appropriate for the conduct of such
206206 22 elections. For the purposes of obtaining information necessary
207207 23 to conduct elections under this Section, participating pension
208208 24 funds shall cooperate with the Fund.
209209 25 (b) All nominations for election shall be by petition.
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220220 1 Each petition for a trustee shall be executed as follows:
221221 2 (1) for trustees to be elected by the mayors and
222222 3 presidents of municipalities or fire protection districts
223223 4 that have participating pension funds, by at least 20 such
224224 5 mayors and presidents; except that this item (1) shall
225225 6 apply only with respect to participating pension funds;
226226 7 (2) for trustees to be elected by participants, by at
227227 8 least 400 participants; and
228228 9 (3) for trustees to be elected by beneficiaries, by at
229229 10 least 100 beneficiaries.
230230 11 (c) A separate ballot shall be used for each class of
231231 12 trustee. The board shall prepare and send ballots and ballot
232232 13 envelopes to the participants and beneficiaries eligible
233233 14 voters to vote in accordance with rules adopted by the board.
234234 15 The ballots shall contain the names of all candidates in
235235 16 alphabetical order. The ballot envelope shall have on the
236236 17 outside a form of certificate stating that the person voting
237237 18 the ballot is a participant or beneficiary entitled to vote.
238238 19 Eligible voters Participants and beneficiaries, upon
239239 20 receipt of the ballot, shall vote the ballot and place it in
240240 21 the ballot envelope, seal the envelope, execute the
241241 22 certificate thereon, and return the ballot to the Fund.
242242 23 The board shall set a final date for ballot return, and
243243 24 ballots received prior to that date in a ballot envelope with a
244244 25 properly executed certificate and properly voted shall be
245245 26 valid ballots.
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256256 1 The board shall set a day for counting the ballots and name
257257 2 judges and clerks of election to conduct the count of ballots
258258 3 and shall make any rules necessary for the conduct of the
259259 4 count.
260260 5 The candidate or candidates receiving the highest number
261261 6 of votes for each class of trustee shall be elected. In the
262262 7 case of a tie vote, the winner shall be determined in
263263 8 accordance with procedures developed by the Department of
264264 9 Insurance.
265265 10 In lieu of conducting elections via mail balloting as
266266 11 described in this Section, the board may instead adopt rules
267267 12 to provide for elections to be carried out solely via Internet
268268 13 balloting or phone balloting. Nothing in this Section
269269 14 prohibits the Fund from contracting with a third party to
270270 15 administer the election in accordance with this Section.
271271 16 (d) At any election, voting shall be as follows:
272272 17 (1) Each person authorized to vote for an elected
273273 18 trustee may cast one vote for each related position for
274274 19 which such person is entitled to vote and may cast such
275275 20 vote for any candidate or candidates on the ballot for
276276 21 such trustee position.
277277 22 (2) If only one candidate for each position is
278278 23 properly nominated in petitions received, that candidate
279279 24 shall be deemed the winner and no election under this
280280 25 Section shall be required.
281281 26 (3) The results shall be entered in the minutes of the
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292292 1 first meeting of the board following the tally of votes.
293293 2 (e) The initial election for permanent trustees shall be
294294 3 held and the permanent board shall be seated no later than 12
295295 4 months after the effective date of this amendatory Act of the
296296 5 101st General Assembly. Each subsequent election shall be held
297297 6 no later than 30 days prior to the end of the term of the
298298 7 incumbent trustees.
299299 8 (f) The elected trustees shall each serve for terms of 4
300300 9 years commencing on the first business day of the first month
301301 10 after election; except that the terms of office of the
302302 11 initially elected trustees shall be as follows:
303303 12 (1) One trustee elected pursuant to item (1) of
304304 13 subsection (b) of Section 22C-115 shall serve for a term
305305 14 of 2 years and 2 trustees elected pursuant to item (1) of
306306 15 subsection (b) of Section 22C-115 shall serve for a term
307307 16 of 4 years;
308308 17 (2) One trustee elected pursuant to item (2) of
309309 18 subsection (b) of Section 22C-115 shall serve for a term
310310 19 of 2 years and 2 trustees elected pursuant to item (2) of
311311 20 subsection (b) of Section 22C-115 shall serve for a term
312312 21 of 4 years; and
313313 22 (3) The trustee elected pursuant to item (3) of
314314 23 subsection (b) of Section 22C-115 shall serve for a term
315315 24 of 2 years.
316316 25 (g) The trustees appointed pursuant to items (4) and (5)
317317 26 of subsection (b) of Section 22C-115 shall each serve for a
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328328 1 term of 4 years commencing on the first business day of the
329329 2 first month after the election of the elected trustees.
330330 3 (h) A member of the board who was elected pursuant to item
331331 4 (1) of subsection (b) of Section 22C-115 who ceases to serve as
332332 5 a mayor, president, chief executive officer, chief financial
333333 6 officer, or other officer, executive, or department head of a
334334 7 municipality or fire protection district that has a
335335 8 participating pension fund shall not be eligible to serve as a
336336 9 member of the board and his or her position shall be deemed
337337 10 vacant. A member of the board who was elected by the
338338 11 participants of participating pension funds who ceases to be a
339339 12 participant may serve the remainder of his or her elected
340340 13 term.
341341 14 For a vacancy of an elected trustee occurring with an
342342 15 unexpired term of 6 months or more, an election shall be
343343 16 conducted for the vacancy in accordance with Section 22C-115
344344 17 and this Section.
345345 18 For a vacancy of an elected trustee occurring with an
346346 19 unexpired term of less than 6 months, the vacancy shall be
347347 20 filled by appointment by the board for the unexpired term as
348348 21 follows: a vacancy of a member elected pursuant to item (1) of
349349 22 subsection (b) of Section 22C-115 shall be filled by a mayor,
350350 23 president, chief executive officer, chief financial officer,
351351 24 or other officer, executive, or department head of a
352352 25 municipality or fire protection district that has a
353353 26 participating pension fund; a vacancy of a member elected
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364364 1 pursuant to item (2) of subsection (b) of Section 22C-115
365365 2 shall be filled by a participant of a participating pension
366366 3 fund; and a vacancy of a member elected under item (3) of
367367 4 subsection (b) of Section 22C-115 shall be filled by a
368368 5 beneficiary of a participating pension fund. A trustee
369369 6 appointed to fill the vacancy of an elected trustee shall
370370 7 serve until a successor is elected. Special elections to fill
371371 8 the remainder of an unexpired term vacated by an elected
372372 9 trustee shall be held concurrently with and in the same manner
373373 10 as the next regular election for an elected trustee position.
374374 11 Vacancies among the appointed trustees shall be filled for
375375 12 unexpired terms by appointment in like manner as for the
376376 13 original appointments.
377377 14 (Source: P.A. 101-610, eff. 1-1-20.)
378378 15 (40 ILCS 5/22C-119)
379379 16 Sec. 22C-119. Adoption of rules. The board shall adopt
380380 17 such rules (not inconsistent with this Code) as in its
381381 18 judgment are desirable to implement and properly administer
382382 19 this Article. Such rules shall specifically provide for the
383383 20 following: (1) the implementation of the transition process
384384 21 described in Section 22C-120; (2) the process by which the
385385 22 participating pension funds may request transfer of funds; (3)
386386 23 the process for the transfer in, receipt for, and investment
387387 24 of pension assets received by the Fund after the transition
388388 25 period from the participating pension funds; (4) the process
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399399 1 by which contributions from municipalities and fire protection
400400 2 districts for the benefit of the participating pension funds
401401 3 may, but are not required to, be directly transferred to the
402402 4 Fund; and (5) compensation and benefits for its employees. A
403403 5 copy of the rules adopted by the Fund shall be posted on the
404404 6 Fund's website filed with the Secretary of State and the
405405 7 Department of Insurance. The adoption and effectiveness of
406406 8 such rules shall not be subject to Article 5 of the Illinois
407407 9 Administrative Procedure Act.
408408 10 (Source: P.A. 101-610, eff. 1-1-20.)
409409 11 (40 ILCS 5/22C-123)
410410 12 Sec. 22C-123. Custodian. The pension fund assets
411411 13 transferred to or otherwise acquired by the Fund shall be
412412 14 placed in the custody of a custodian who shall provide
413413 15 adequate safe deposit facilities for those assets and hold all
414414 16 such securities, funds, and other assets subject to the order
415415 17 of the Fund.
416416 18 Each custodian shall furnish a corporate surety bond of
417417 19 such amount as the board designates, which bond shall
418418 20 indemnify the Fund, the board, and the officers and employees
419419 21 of the Fund against any loss that may result from any action or
420420 22 failure to act by the custodian or any of the custodian's
421421 23 agents, or provide insurance coverages of such type and limits
422422 24 as the board designates. All charges incidental to the
423423 25 procuring and giving of any bond shall be paid by the board and
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434434 1 each bond shall be in the custody of the board.
435435 2 (Source: P.A. 101-610, eff. 1-1-20.)
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