| Topic: | IMRF Board |
| Subtopic: | Conflicts of Interest at Board Meetings |
| Date: | 8/27/2004 |
| Status: | Active |
WHEREAS, Section 7-198 of the Illinois Pension Code authorizes the Board of Trustees of the Illinois Municipal Retirement Fund (“IMRF”) to establish such rules and regulations as are necessary or desirable for the efficient administration of the Fund; and
WHEREAS, the Board of Trustees of IMRF has not adopted a formal procedure with regard to debate and voting when a Board member has a real or perceived conflict of interest; and
WHEREAS, Roberts Rules of Order, Newly Revised (9th Edition) merely notes that, “No member should vote on a question in which he has a direct personal or pecuniary interest not common to other members of the organization”; and
WHEREAS, the adoption of a formal debate and voting procedure would be of benefit to the Board of Trustees, the members and annuitants of IMRF, as well as the general public.
NOW, THEREFORE, BE IT RESOLVED that whenever a Board member has a real or perceived conflict of interest he/she must advise the other members of the Board or Board Committee of the existence of the conflict and that he/she will abstain from voting on the issue in question.
BE IT FURTHER RESOLVED that the Board member may choose to participate in the debate on the issue in question only if the member, first, fully explains the nature of the conflict to the remaining Board members; and, second, the member only provides factual background or other information that might aid the remaining Board members in reaching a decision. The Board member who has a real or perceived conflict of interest shall not attempt to persuade the other Board members as to the merits of the issue in question.
BE IT FURTHER RESOLVED that if the Board member does not wish to fully explain the nature of the conflict, the member must choose to not participate in the discussion of the issue in question.