Chapter 2.72
POLICE PENSION BOARD
Sections:
2.72.010 Appointment – Term.
There shall be a police pension board consisting of five members. Of these members, two shall be appointed by the village president, serving a term of two years each, two shall be elected from the regular police force of the village, and one shall be elected from the beneficiaries of the pension. Each member shall serve for three years and elected members shall be selected in the manner provided by the Illinois Compiled Statutes. The terms of the members of the police pension fund first appointed shall commence on the second Tuesday of May following the adoption of this chapter. (Ord. 2006-19 § 1, 2006)
2.72.020 Duties.
It shall be the duty of the members of the police pension board to manage, invest and control the police pension fund and all moneys pertaining thereto in the manner provided by statute and to pay beneficiaries as provided by the Illinois Compiled Statutes. (Ord. 2006-19 § 2, 2006)
2.72.030 Deposit of funds.
There shall be deposited in the police pension fund the amounts provided for by statute.