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Thursday, 10 April 2014 14:57

Police Pension Board

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The Police Pension Board...

A Board of five (5) members shall constitute a Board of Trustees to administer the police pension fund and to designate the beneficiaries thereof. The Board shall be known as the “Board of Trustees of the Police Pension Fund of the City of Murphysboro”. 
 
 Two (2) members of the Board shall be appointed by the Mayor, one of whom shall serve for one (1) year beginning on the second (2nd) Tuesday in May after the Municipality comes within the provisions of Article 3 of the Illinois Pension Code. 
The other appointed member shall serve for two (2) years beginning on the same date. The successors to each of the foregoing Trustees shall serve for two (2) years 
each or until their successors are appointed and qualified. 
 Two (2) members of the Board shall be elected from the active participants of the pension fund by such active participants. One (1) member of the Board shall be 
elected by and from the beneficiaries. The election of these Board members shall be held biennially on the third (3rd) Monday in April, at such place or places in the City 
and under the Australian ballot system and such other regulations as shall be prescribed by the appointed members of the Board. 
 
The active pension fund participants shall be entitled to vote only for the active participant members of the Board. All beneficiaries of legal age may vote only for the 
member chosen from among the beneficiaries. No person shall be entitled to cast more than one (1) ballot at such election. The term of elected members shall be two (2) 
years, beginning on the second (2nd) Tuesday of the first May after the election.

The Board shall hold annually regular quarterly meetings in July, October, January and April, and special meetings as called by the President. At the regular July meeting, the Board shall select from its members a President, Vice-President, Secretary and Assistant Secretary to serve for one (1) year and until their respective successors are elected and qualified. 

The Board shall report to the City Council on the condition of the pension fund. The report shall be made prior to the City Council meeting held for the levying of taxes for the year for which the report is made. 

 
 The Board shall certify: 
  • the assets in its custody at such time; 
  • the estimated receipts during the next succeeding calendar year from deductions from the salaries of police officers, and from all other sources; and 
  • the estimated amount required during said calendar year to (a) pay all pensions and other obligations provided in this Article and in Article 3 of the Illinois Pension Code; and (b) to meet the annual requirements of the fund as provided in Section 4 hereinabove
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