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| 1 | AMENDMENT TO SENATE BILL 2525
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 2525 by replacing | ||||||
| 3 | everything after the enacting clause with the following:
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| 4 | "Section 5. The Illinois Pension Code is amended by | ||||||
| 5 | changing Section 1-107 as follows:
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| 6 | (40 ILCS 5/1-107) (from Ch. 108 1/2, par. 1-107)
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| 7 | Sec. 1-107. Indemnification of trustees, consultants, and | ||||||
| 8 | employees of
retirement systems and pension funds. Every | ||||||
| 9 | retirement system, pension
fund, or other system or fund | ||||||
| 10 | established under this Code, other than a retirement system | ||||||
| 11 | established under Article 2, 14, 15, 16, or 18 of this Code, | ||||||
| 12 | must indemnify and
protect the trustees against all damage | ||||||
| 13 | claims
and suits, including defense thereof, when damages are | ||||||
| 14 | sought for negligent
or wrongful acts alleged to have been | ||||||
| 15 | committed in the scope of their powers and duties as trustees. | ||||||
| 16 | Every retirement system established under Article 2, 14, | ||||||
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| 1 | 15, 16, or 18 of this Code may indemnify and
protect the | ||||||
| 2 | trustees against all damage claims
and suits, including defense | ||||||
| 3 | thereof, when damages are sought for negligent
or wrongful acts | ||||||
| 4 | alleged to have been committed in the scope of their powers and | ||||||
| 5 | duties as trustees. | ||||||
| 6 | Every retirement system, pension
fund, or other system or | ||||||
| 7 | fund established under this Code may indemnify and
protect the | ||||||
| 8 | trustees, staff and consultants against all damage claims
and | ||||||
| 9 | suits, including defense thereof, when damages are sought for | ||||||
| 10 | negligent
or wrongful acts alleged to have been committed in | ||||||
| 11 | the scope of employment
or under the direction of the trustees. | ||||||
| 12 | However, the trustees, staff, and
consultants shall not be | ||||||
| 13 | indemnified for wilful misconduct and gross negligence.
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| 14 | Each board is authorized to insure against loss or | ||||||
| 15 | liability of the trustees,
staff, and consultants which may | ||||||
| 16 | result from these damage claims. This insurance
shall be | ||||||
| 17 | carried in a company which is licensed to write such coverage | ||||||
| 18 | in this State.
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| 19 | (Source: P.A. 80-1364.)
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| 20 | Section 99. Effective date. This Act takes effect upon | ||||||
| 21 | becoming law.".
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