Board Welcomes New Trustee Alex Wallace
New Employee Trustee Alex Wallace participated in his first meeting of the IMRF Board of Trustees.
Wallace, a bus driver with Oswego Community Unit School District 308, was appointed to the position of IMRF Trustee effective July 1, following the retirement of former Employee Trustee John Piechocinski. In addition to serving on the IMRF Board of Trustees, Wallace also holds leadership positions with the Illinois Education Association and National Education Association.
“I’m very glad to be here,” Wallace told the IMRF Board.
Wallace’s appointment runs through the end of 2016. In the fall, IMRF active members will elect a candidate to fill the remainder of Piechocinski’s term, which runs through December 31, 2020.
Staff Updates Board On Pending Legislation
Three of the four bills that made up the Board’s 2016 Legislative Agenda were passed by the General Assembly:
- Senate Bill 2894, which has been signed into law by the governor and is now Public Act 99-580, removes the one-year limitation for the retroactive payment of surviving spouse annuities.
- Senate Bill 2972, which is awaiting the governor’s signature, allows certain members to opt to receive a refund of contributions, in place of a relatively small monthly pension.
- Senate Bill 2986, which is awaiting the governor’s signature, allows the IMRF Board of Trustees to assess a penalty on employers for certain retiree return-to-work violations.
For more information on these and other bills that may impact IMRF, see IMRF’s pension legislation page.
New Employers Join IMRF
The Board approved the participation of the following new employers:
- Manhattan Fire Protection District
- Niles Public Library District
- Plano Area Special Education Cooperative
- Putnam County Conservation District
Next Board Meeting
The next regular meeting of the IMRF Board of Trustees will be Friday, August 26, at IMRF’s Oak Brook headquarters.