There is hereby created and established as required by law, the city of Wilmington police pension fund to be administered and operated in conformance with Article 3 of the Illinois Pension Code (40 ILCS 5/3-101 et seq. [1996]), as from time to time amended. (Ord. 1285, passed 6-16-98)

(A) A board of five members, at least a majority of whom shall be residents of the city of Wilmington, shall constitute a board of trustees of the city of Wilmington police pension fund and to administer the pension fund to designate the beneficiaries thereof. The board shall be known as the board of trustees of the city of Wilmington police pension fund (sometimes called “pension board”).
(B) Two members of the pension board shall be appointed by the mayor of the city of Wilmington. The third (3rd) and fourth (4th) members of the pension board shall be elected from the active participants of this pension fund by such active participants. The fifth (5th) member of the pension board shall be elected by and from the beneficiaries of the fund.
(C) One of the pension board members appointed by the mayor shall serve for one year beginning on the second Tuesday of May after Wilmington comes under the police pension fund of the Illinois Pension Code. The other appointed pension board member shall serve for two years beginning on the same date. The successors of the appointed members of the board shall serve for two years each or until their successors are appointed and qualified.
(D) The election provided for in this section for elected pension board members shall be held biennially on the third (3rd) Monday in April at such place or places in the municipality and under the Australian ballot system and such other regulations as shall be prescribed by the appointed members of the pension board.
(E) The active participants in the pension fund shall be entitled to vote only for the active participants members of the pension board. All pension fund beneficiaries of legal age may vote only for the pension board member chosen from among the beneficiaries. No person shall be entitled to cast more than one ballot at the election. The term of the elected members shall be two years, beginning on the second (2nd) Tuesday of the first May after the election.
(F) Upon the death, resignation or inability to act of any elected pension board member, his or her successor shall be elected for the unexpired term at a special election, to be called by the pension board and conducted in the same manner as the regular biennial election. (Ord. 1285, passed 6-16-98)

(A) The pension board shall hold annually regular quarterly meetings in July, October, January and April, and special meetings as called by the pension board president.
(B) At the regular July meeting, the pension board shall select from its members a president, vice president, secretary, and assistant secretary to serve for one year and until their respective successors are elected and qualified.
(C) The vice president shall perform the duties of president during any vacancy in that office, or during the president’s absence from the city, or if he or she is by reason of illness or other causes unable to perform the duties of the office. The assistant secretary shall act for the secretary whenever necessary to discharge the functions of the office. (Ord. 1285, passed 6-16-98)

The pension board shall have all applicable rights, powers, obligations and duties as from time to time granted by law, including as set forth in Article III of the Illinois Pension Code (40 ILCS 5/3-101 et seq. [1996]). (Ord. 1285, passed 6-16-98)

Members of the pension board shall neither receive nor have any right to receive any salary from the pension fund for services performed as trustees in that office. (Ord. 1285, passed 6-16-98)

The cost of providing the pension benefits required to be paid by the city under the provision of the Illinois Pension Code and this chapter shall be financed by the levy of a tax pursuant to Article III Section 3-125 of the Illinois Pension Code (40 ILCS 5/3-125 [1996]) and as otherwise provided by law.

It is the intention of the corporate authorities of the city of Wilmington that the provisions of this chapter shall in all respects comply and be consistent with the provisions of the Illinois Pension Code, and this chapter shall be construed so as to give it that effect. (Ord. 1285, passed 6-16-98)