HB 4544

Abstract

Amends the General Provisions Article of the Illinois Pension Code. Provides that a trustee of a downstate police or firefighter pension fund must complete, within the first 2 years (instead of within the first year) after the trustee takes office (instead of after the trustee is elected or appointed), at least 8 hours of training covering fiduciary duties and liabilities and trustee ethics. Requires a trustee to complete an additional 16 hours of continuing trustee education during the 2 years following the date by which the trustee must complete the initial training and every 2 years thereafter. Provides that at least 4 hours of training during each year must be devoted to fiduciary duties and liabilities and trustee ethics. Provides that at least 8 hours of the biennial training required must be in the form of a live lecture or classroom training forum or, if taken online, must meet certain other requirements. Specifies that the balance of biennial trustee training may take the form of participation in other training opportunities incident to the functioning of the pension board, such as participation in board hearings on the award of disability or other benefits or training opportunities associated with other organizations or employment that are applicable to the duties of a pension fund trustee. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately.