| Title: | Police Officers' Pension Investment Fund | | 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 transition board members shall serve until the initial permanent board members are elected and qualified. | | Senate Confirmation: | Yes | | Compensation: | Expenses | | Composition: | No later than one month after the effective date of
this amendatory Act of the 101st General Assembly or as soon
thereafter as may be practicable, the Governor shall appoint,
by and with the advice and consent of the Senate, a transition
board of trustees consisting of 9 members as follows:
(1) three members representing municipalities who are
mayors, presidents, chief executive officers, chief
financial officers, or other officers, executives, or
department heads of municipalities and appointed from
among candidates recommended by the Illinois Municipal
League;
(2) three members representing participants and who
are participants, 2 of whom shall be appointed from among
candidates recommended by a statewide fraternal
organization representing more than 20,000 active and
retired police officers in the State of Illinois, and one
of whom shall be appointed from among candidates
recommended by a benevolent association representing sworn
police officers in the State of Illinois;
(3) two members representing beneficiaries and who are
beneficiaries, one of whom shall be appointed from among
candidates recommended by a statewide fraternal
organization representing more than 20,000 active and
retired police officers in the State of Illinois, and one
of whom shall be appointed from among candidates
recommended by a benevolent association representing sworn
police officers in the State of Illinois; and
(4) one member who is a representative of the Illinois
Municipal League. | | Chair: | Chair is elected by the temporary trustees | | Authority: | 40 ILCS 5/22B-115 |
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