(A) Each elected official of the village may elect to participate in the Illinois Municipal Retirement Fund (IMRF) pursuant to all applicable laws, rules, and regulations. The required employee contribution to the IMRF shall be a deduction from the compensation due to each elected official who elects to participate in the IMRF.
(B) Commencing on May 1, 1985, each elected village official of the village shall be entitled to elect to participate in the deferred compensation plan or program sponsored by the International City Management Association or the U.S. Conference of Mayors. Each elected official shall be entitled to designate in writing to the Village Treasurer what portion (or all) of his compensation to be paid into a deferred compensation program together with a designation to which program it should be paid into. Thereafter, the Village Treasurer shall be entitled to make payments until that time as the Village Treasurer receives a written direction from an elected official to either increase or decrease the amount of the payment or to discontinue making the payments entirely for that official. The Village Treasurer shall be entitled to rely upon and act in accordance with any written designation or direction received from time to time and the village and the Village Treasurer shall be discharged from any and all liability in connection therewith.
(C) Each elected official of the village shall, effective upon the commencement of their term of office after December 1, 1984, be entitled to participate in the life insurance program offered from time to time by the village to all full-time employees of the village through the South Towns Area Benefit Cooperative or any other entity or agency as determined from time to time by the village. The village shall pay the entire cost of the group term life insurance for those elected officials, with the amount of the insurance to be in the same amount as from time to time provided to the full-time employees of the village through the village's group term life insurance program. This insurance shall be provided on the same terms and conditions as provided to the village's full-time employees, and shall be subject to all restrictions and conditions as may be required from time to time by the insurance carrier and the Cooperative or other entity or agency providing the program.
(D) The village will purchase additional term life insurance coverage for each elected official of the village with a death benefit of not less than $20,000; provided, however, if the elected official has elected to participate in the IMRF, and is provided a greater death benefit through the IMRF based upon their compensation with the village, or if such term life insurance benefits provided under division (C) of this section are greater than the amount referenced in this section, then no such additional life insurance benefit shall be required, with the death benefits then being solely provided pursuant to the IMRF or other term life insurance provided under division (C) of this section. As applicable, the beneficiary, or beneficiaries, of said insurance shall be designated by the elected official. This insurance shall be subject to all restrictions and conditions as may be required from time to time by the insurance provider, as applicable.
(E) The village will purchase additional indemnity insurance coverage for elected officials to provide a maximum death benefit in the amount of $50,000 for any elected official of the village who dies while in the act of conducting official village business. As applicable, the beneficiary or beneficiaries, of said insurance shall be designated by the elected official. This insurance benefit shall take into consideration the benefits herein provided under divisions (C) or (D) of this section. Accordingly, the maximum combined death benefit to be provided under divisions (C), (D), and (E) of this section, in the case of a death of an elected official while conducting official village business shall be in the amount of $50,000. This insurance shall be subject to all restrictions and conditions as may be required from time to time by the insurance provider, as applicable.
(F) The village maintains comprehensive health and medical insurance plans on an annual basis for its employees. Each elected official of the village may choose to participate in the village's health insurance plan offerings. Any elected official who opts to obtain health insurance through the village's plans shall pay 20% of the premium cost for such participation, with the remainder to be paid by the village. These health and medical insurance benefits may also include dental, vision, and drug coverage and are subject to change from time to time by the village or the insurance provider.
(Ord. 84-0-071, passed 12-18-84; Am. Ord. 2004-O-030, passed 4-27-04)