| Topic: | IMRF Board |
| Subtopic: | Elections - Candidate Eligibility |
| Date: | 2/15/2019 |
| 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 rules necessary or desirable for the efficient administration of the Fund; and
WHEREAS, section 7-175(e) of the Illinois Pension Code authorizes the Board of Trustees to establish rules and regulations governing the conduct of elections for trustee; and
WHEREAS, section 7-174(a) of the Illinois Pension code provides that no person shall be eligible to become a trustee who does not have the minimum service credit to qualify for an IMRF pension; and
WHEREAS, section 7-174(b)(3) provides that one trustee shall be an annuitant of the Fund; and
WHEREAS, it is desirable that the Board of Trustees establish uniform eligibility requirements for candidates for Board elections.
THEREFORE, BE IT RESOLVED that the following eligibility standards will apply to all candidates for the IMRF Board of Trustees.
Executive and Employee Trustee
To be eligible to be a candidate for executive or employee trustee, an IMRF member must have the minimum amount of service credit needed to qualify for an IMRF pension as of the day immediately preceding the beginning of the trustee’s term of office.
For example, if the term of office is to begin January 1, a candidate who is a member of Tier 1 must have at least eight years of service as of the immediately preceding December 31, while a candidate who is a member of Tier 2 must have at least ten years of service as of the immediately preceding December 31.
Annuitant Trustee
To be eligible to be a candidate for annuitant trustee, an IMRF member must have an annuity effective date no later than the first day of the month the annuitant takes office.