Pension Fund Board of Trustees

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The Board of Trustees of the Channahon Firefighters’ Pension Fund (the “Board”) shall consist of the following five (5) members: two members appointed by the President of the Board of Trustees; two (2) active firefighters of the Channahon Fire Protection District (the “District”); and one (1) person who has retired under the Firemen’s Pension Act of 1919 or Article 4 of the Illinois Pension Code. A firefighter receiving a disability pension shall be considered a retired firefighter for purposes of membership on the Board of Trustees. If there are no retired firefighters under the Fund or if none is willing to serve on the Board, then an additional active firefighter shall be elected to the Board in lieu of the retired firefighter who would otherwise be elected.

The powers and duties of the Board shall generally include, but are not limited to, the following:

• To control and manage, exclusively, (1) the Pension Fund, (2) investment expenditures and income, including interest dividends, capital gains, and other distributions on the investments, and (3) all money donated, paid, assessed, or provided by law for the pensioning of disabled and retired firefighters, their surviving spouses, minor children, and dependent parents.
• To assess each firefighter for the contributions required by law, and to have the contributions deducted from salaries, together with all interest accruing thereon, placed by the Treasurer to the credit of the Pension Fund, subject to the order of the Board.
• To hear and decide all applications for pensions and other benefits for pensions and other benefits under Article 4 of the Pension Code and to order and direct the payment of pensions and other benefits.
• To invest the money of the Pension Fund in accordance with the Pension Code.
• To accept by gift, grant, transfer or bequest, any money, real estate, or personal property, and to place such money and proceeds from the sale of or income from such real estate or personal property into the Pension Fund.
• To make all rules and regulations necessary for the discharge of its duties; to keep a record of all its meetings and proceedings; to provide for the payment from the Fund of all necessary expenses of the Board; and to compel witnesses to attend and testify before it upon all matters connected with the administration of Article 4, in the manner provided by law for the taking of testimony before the circuit court.