As defined in Section 3-103 of the Illinois General Assembly – Illinois Compiled Statutes, the City Council shall establish and administer a Police Pension Fund. This fund is for the benefit of its Police Officers and their surviving spouses, children, and certain other dependents. A Board of five (5) members shall constitute a board of trustees to administer the 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 Joliet.
Two members of the Board shall be appointed by the Mayor with the advice and consent of the City Council, and two members shall be elected from the active participants of the pension fund. The fifth member shall be elected by and from the beneficiaries. All members must be residents of the City of Joliet and participate in a mandatory trustee certification training seminar that consists of at least 32 hours of initial trustee certification at a training facility that is accredited and affiliated with a State of Illinois certified college or university. This training must be completed within the first year that a trustee is elected or appointed and 16 hours of continuing education are required each year thereafter.
One of the members appointed by the Mayor shall serve for one year beginning on the 2nd Tuesday in May. The other appointed member shall serve for two years beginning on the same date. Their successors shall serve for 2 years each, or until their successors are appointed and qualified. The election for board members shall be held biennially on the 3rd Monday in April and 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 ballot at such election. The term of elected members shall be 2 years, beginning on the 2nd Tuesday of the first May after the election.
Upon the death, resignation or inability to act of any elected board member, his or her successor shall be elected for the unexpired term at a special election to be called by the board and conducted in the same manner as the regular biennial election. Members of the board shall neither receive nor have any right to receive any salary from the pension fund for services performed as trustees in that office.