HB 4323

Abstract

Amends the State Universities Article of the Illinois Pension Code. Provides that the term of an appointed trustee shall terminate immediately upon becoming a member of the system or being sworn into an elective State office, and the position shall be considered to be vacant. Provides that an elected trustee who is incumbent on the effective date of the amendatory Act whose status as a participating employee or annuitant has terminated after having been elected shall continue to serve in the participating employee or annuitant position to which he or she was elected for the remainder of the term. Provides that trustees shall continue in office until their respective successors are appointed and have qualified, except that a trustee elected (instead of appointed) to one of the participating employee (instead of participant) positions after the effective date of the amendatory Act shall be disqualified immediately upon the termination of his or her status as a participating employee (instead of participant) and a trustee elected (instead of appointed) to one of the annuitant positions after the effective date of the amendatory Act shall be disqualified immediately upon the termination of his or her status as an annuitant receiving a retirement annuity. Effective immediately.