1.17 Legislative Committee Charter
The Legislative Committee Charter was adopted by the Board of Trustees of the Illinois Municipal Retirement Fund. The Committee shall review and reassess this Charter annually, and recommend any proposed changes to the Board for approval.
Purpose
The purpose of the legislative committee is to assist the Board in determining its legislative agenda and positions on legislation. Other duties may be assigned to it by the Board.
Authority
The Legislative Committee is empowered to:
- Authorize the drafting of legislation for review and approval by the Board;
- Request the preparation of cost studies by IMRF’s actuaries covering proposed or introduced legislation, as necessary;
- Meet with parties that have an interest in legislation affecting IMRF; and
- Seek any information it requires from internal or external parties.
Composition
The Legislative Committee will consist of at least three members of the Board of Trustees. At the January Board meeting, the President of the Board will appoint and the full Board will approve the Committee chair, vice-chair, and members for a one-year term
Meetings
The committee shall meet at least twice per year, with the authority to convene additional meetings, as circumstances require. One meeting shall be to determine the Board’s legislative agenda for the following year. The committee shall also meet as soon as possible after new legislation is introduced affecting IMRF, but no later than the next scheduled Board meeting.
All committee members are expected to attend each meeting, in person or via tele- or videoconference. The committee may invite members of staff or others to attend meetings and provide pertinent information, as necessary. Meeting agendas will be prepared and provided in advance to members, along with appropriate briefing materials. Minutes will be prepared.
Responsibilities
The Legislative Committee will carry out the following responsibilities:
- Review all legislation affecting IMRF and determine its potential financial and administrative impact on the Fund, the members, and the employers;
- Recommend Board positions on all legislation affecting IMRF;
- Determine the concerns of the various IMRF constituencies to develop legislative solutions;
- Develop a legislative agenda for the Fund;
- Regularly report to the Board of Trustees about committee activities, issues, and related matters;
- Review any other reports the Fund issues that relate to committee responsibilities;
- Obtain regular reports from staff regarding legislative matters;
- Perform other activities related to this charter as requested by the Board of Trustees; and
- Confirm annually that all responsibilities outlined in this charter have been carried out.