Topic: | Rescinding Resolutions |
Subtopic: | Benefit Overpayments |
Date: | 11/17/2005 |
Status: | Active |
WHEREAS, section 7-198 of the Illinois Pension Code authorizes the Board of Trustees of the Illinois Municipal Retirement Fund to establish rules necessary or desirable for the efficient administration of the Fund; and
WHEREAS, the Board of Trustees has previously adopted Resolution 2005-05-05(c) establishing rules regarding hardship agreements for members receiving disability benefits and any resulting benefit overpayments; and
WHEREAS, The Board of Trustees has also previously adopted Resolutions 1988-03-08, 1990-05-09, and 1993-08-15 providing for interest charges on benefit overpayments; and
WHEREAS, the Board of Trustees has determined that benefit overpayments do not accrue interest because they are pre-payments of benefits to which the member is otherwise entitled; and
WHEREAS, Resolutions 1988-03-08, 1990-05-09, and 1993-08-15 are obsolete; and
WHEREAS, it is appropriate that obsolete rules be rescinded.
NOW THEREFORE BE IT RESOLVED that Board Resolutions 1988-03-08, 1990-05-09, and 1993-08-15 be and are hereby rescinded.