Bill Text: IL SB3653 | 2021-2022 | 102nd General Assembly | Introduced

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Bill Title: Amends the General Provisions Article of the Illinois Pension Code. Provides that no individual who is an employee of a pension fund, investment board, or retirement system may serve as a trustee of that pension fund, investment board, or retirement system within 12 months after his or her termination of employment. Effective January 1, 2023.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2022-01-21 - Referred to Assignments [SB3653 Detail]

Download: Illinois-2021-SB3653-Introduced.html

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102ND GENERAL ASSEMBLY State of Illinois 2021 and 2022 SB3653 Introduced 1/21/2022, by Sen. Robert F. Martwick SYNOPSIS AS INTRODUCED:
40 ILCS 5/1-109.5
Amends the General Provisions Article of the Illinois Pension Code. Provides that no individual who is an employee of a pension fund, investment board, or retirement system may serve as a trustee of that pension fund, investment board, or retirement system within 12 months after his or her termination of employment. Effective January 1, 2023.
LRB102 22512 RPS 31653 b
A BILL FOR
SB3653 LRB102 22512 RPS 31653 b
AN ACT concerning public employee benefits.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Illinois Pension Code is amended by
changing Section 1-109.5 as follows:
(40 ILCS 5/1-109.5)
(This Section may contain text from a Public Act with a
delayed effective date)
Sec. 1-109.5. Prohibition on employment for board members.
(a) Except as otherwise provided in this Section and in
accordance with Section 5-45 of the State Officials and
Employees Ethics Act, no individual who is a board member of a
pension fund, investment board, or retirement system may be
employed by that pension fund, investment board, or retirement
system at any time during his or her service and for a period
of 12 months after he or she ceases to be a board member.
If a senior administrative staff position becomes vacant
and no executive member of the staff is willing to accept the
position, an individual serving as a board member may
temporarily serve as an interim member of the senior
administrative staff of the fund under the following
conditions:
(1) the senior administrative staff position is vacant

SB3653 - 2 - LRB102 22512 RPS 31653 b
and the board is conducting and documenting a public
search for a new permanent replacement who is not a member
of the board of trustees of the fund;
(2) a majority of the board of trustees of the fund
votes to designate a specific board member to serve in the
senior administrative staff position;
(3) the board-designated interim member of the senior
administrative staff does not receive any salary or
benefits associated with the position;
(4) the board-designated interim member of the senior
administrative staff serves for a period of not more than
6 months; and
(5) the trustee vacates his or her position as a
trustee while serving as an interim member of the senior
administrative staff.
(b) Except as otherwise provided in this Section, no
individual who is an employee of a pension fund, investment
board, or retirement system may serve as a trustee of that
pension fund, investment board, or retirement system within 12
months after his or her termination of employment.
(Source: P.A. 102-603, eff. 1-1-22.)
Section 99. Effective date. This Act takes effect January
1, 2023.