SB1066 amends the Illinois Pension Code to suspend authorities during police pension fund dissolution.
SB1066 amends the Illinois Pension Code to suspend the 13 corporate authorities of a municipality from establishing and administering a police pension fund during any period the fund is dissolved. This change applies to municipalities as defined in Section 3-103, affecting the city council or board of trustees responsible for the fund. The bill ensures that pension fund administration duties are paused when the fund is dissolved, aligning with Section 3-144.6 of the Code.
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