Illinois HB2854 amends the Illinois Pension Code to adjust the composition of the Retirement Board of the Policemen's Annuity and Benefit Fund.
Illinois HB2854 amends the Illinois Pension Code to modify the composition of the Retirement Board of the Policemen's Annuity and Benefit Fund. The board will now consist of 9 members, including 4 appointed by the mayor, 4 policemen employed by the city, and 1 annuitant of the fund. The policemen members must include at least one lieutenant or a rank superior to lieutenant, one sergeant, 2 investigators or ranks inferior to that rank, and 1 annuitant. The terms of office for all members are set at 3 years, with specific terms for certain positions during the 2008 election.
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