| Topic: | Rescinding Resolutions |
| Subtopic: | Rescinding Obsolete and Outdated Resolutions |
| Date: | 7/30/2020 |
| 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 2012-07-06 which established the policy that employers may not adopt an Early Retirement Incentive program earlier than five years after the close of a previous Early Retirement Incentive program; and
WHEREAS, this policy reflected an interpretation of Section 7-141.1 of the Illinois Pension Code; and
WHEREAS, the Board no longer believes that this policy best serves the member and employers of IMRF; and
WHEREAS, it is appropriate that this resolution be rescinded.
NOW THEREFORE BE IT RESOLVED that Board Resolution 2012-07-06 be and is hereby rescinded.