Bill Text: IL HB0379 | 2021-2022 | 102nd General Assembly | Engrossed
Bill Title: Amends the Chicago Teacher Article of the Illinois Pension Code. Provides that payment from the Fund shall be made upon checks or through direct deposit transmittals authorized by the executive director (instead of upon warrants signed by the president and the secretary of the Board of Education, the president of the Board, and countersigned by the executive director) or by such person as the Board may designate from time to time by appropriate resolution. Makes other changes.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Engrossed - Dead) 2021-04-23 - Referred to Assignments [HB0379 Detail]
Download: Illinois-2021-HB0379-Engrossed.html
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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 | ||||||
| 5 | changing Section 17-147 as follows:
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| 6 | (40 ILCS 5/17-147) (from Ch. 108 1/2, par. 17-147)
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| 7 | Sec. 17-147. Custody of Fund; bonds; legal Fund - Bonds - | ||||||
| 8 | Legal proceedings. The
city treasurer, ex officio
ex-officio, | ||||||
| 9 | shall be the custodian of the Fund,
and shall secure and safely | ||||||
| 10 | keep it, subject to the control and
direction of the Board. The | ||||||
| 11 | city treasurer He shall keep the his books and accounts
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| 12 | concerning
the Fund in the manner prescribed by the Board. The
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| 13 | books and accounts
shall always be subject to the inspection | ||||||
| 14 | of the Board or any
member
thereof. The city treasurer shall be | ||||||
| 15 | liable on the city treasurer's his official bond for the
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| 16 | proper performance of his duties and the conservation of the | ||||||
| 17 | Fund.
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| 18 | Payments from the Fund shall be made upon checks or | ||||||
| 19 | through direct deposit transmittals authorized warrants signed | ||||||
| 20 | by the
president and the secretary of the Board of Education, | ||||||
| 21 | the president of
the Board, and countersigned by the executive | ||||||
| 22 | director or
by such person as the Board may designate from time | ||||||
| 23 | to time
by appropriate resolution.
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| 1 | Neither the treasurer nor any other officer having the | ||||||
| 2 | custody of the
Fund is entitled to retain any interest | ||||||
| 3 | accruing thereon, but such
interest shall accrue and inure to | ||||||
| 4 | the benefit of such Fund,
become a
part thereof, subject to the | ||||||
| 5 | purposes of this Article.
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| 6 | Any legal proceedings necessary for the enforcement of the | ||||||
| 7 | provisions
of this Article shall be brought by and in the name | ||||||
| 8 | of the Board of the Fund.
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| 9 | (Source: P.A. 90-566, eff. 1-2-98.)
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