| Title: | Police Officers' Pension Investment Fund | | Contact Comments: | | | Function: | The Police Officers' Pension Investment Fund is created with authority to manage the reserves, funds, assets, securities, properties, and moneys of the police pension funds created pursuant to Article 3 of this Code, all as provided in this Article. | | Term: | The trustee appointed pursuant to item (4) of subsection (b) of Section 22B-115 shall serve for a term of 2 years commencing on the first business day of the first month after the election of the elected trustees. | | Senate Confirmation: | Yes | | Qualifications: | | | Compensation: | Expenses | | Composition: | The permanent board of trustees shall consist of 9 members as follows: (1) Three members who are mayors, presidents, chief
executive officers, chief financial officers, or other officers, executives, or department heads of municipalities that have participating pension funds and are elected by the mayors and presidents of municipalities that have participating pension funds.
(2) Three members who are participants of participating pension funds and are elected by the participants of participating pension funds.
(3) Two members who are beneficiaries of participating pension funds and are 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. | | 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 5/22B-115 |
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