PEN CD-FIRE INVESTMENT BOARD

Amends the Firefighters' Pension Investment Fund Article of the Illinois Pension Code. Adds a member, to be appointed by the Governor, who is recommended by a statewide association representing fire protection districts to the transition board of trustees of the investment fund and the permanent board of trustees of the investment fund. Provides that at least one of the 3 elected members who are mayors, presidents, chief executive officers, chief financial officers, or other officers, executives, or department heads of municipalities or fire protection districts that have participating pension funds must be from a fire protection district. Provides that if the candidate or candidates receiving the highest number of votes would result in there being no trustee who is from a fire protection district, then the candidate receiving the highest number of votes who is from a fire protection district shall be elected. Provides that 7 members (instead of 6 members) of the board shall constitute a quorum. Provides that all actions taken by the transition board and the permanent board shall require a vote of at least 6 (instead of 5) trustees, except that certain actions shall require a vote of at least 7 (instead of 6) trustees. Effective immediately.