|Title:||Firefighters' Pension Investment Fund |
|Contact Name:||William Atwood|
|Contact Title:||Executive Director|
|Function:||The Firefighters' Pension Investment Fund is created with authority to manage the reserves, funds, assets, securities, properties, and moneys of the firefighter pension funds created pursuant to Article 4 of this Code, all as provided in this Article.|
|Term:||The trustees appointed pursuant to items (4) and (5) of subsection (b) of Section 22C-115 shall each serve for a term of 4 years commencing on the first business day of the first month after the election of the elected trustees.|
|Composition:||The permanent board of trustees shall consist of 9 members comprised as follows:
(1) Three members who are mayors, presidents, chief
executive officers, chief financial officers, or other officers, executives, or department heads of municipalities or fire protection districts that have participating pension funds and are elected by the mayors and presidents of municipalities or fire protection districts that have participating pension funds.
(2) Three members who are participants of participating pension funds and elected by the participants of participating pension funds.
(3) One member who is a beneficiary of a participating pension fund and is elected by the beneficiaries of participating pension funds.
(4) One member recommended by the Illinois Municipal League who shall be appointed by the Governor with the advice and consent of the Senate.
(5) One member recommended by the statewide labor organization representing firefighters employed by at least 85 municipalities and that is affiliated with the Illinois State Federation of Labor who shall be appointed by the Governor with the advice and consent of the Senate.|
|Chair:|| The permanent board of trustees shall select the chairperson of the permanent board of trustees from among the trustees for a term of 2 years.|
|Authority:||40 ILCS 5/22C-115|