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Illinois Statutes Chapter 40. Pensions § 5/1-109.5. Prohibition on employment for board members

Current as of January 01, 2025 | Updated by Findlaw Staff

§ 1-109.5. Prohibition on employment for board members. 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 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.

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Cite this article: FindLaw.com - Illinois Statutes Chapter 40. Pensions § 5/1-109.5. Prohibition on employment for board members - last updated January 01, 2025 | https://codes.findlaw.com/il/chapter-40-pensions/il-st-sect-40-5-1-109-5/

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