98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB1251

 

Introduced , by Rep. Lou Lang

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/2-101  from Ch. 108 1/2, par. 2-101
40 ILCS 5/14-101  from Ch. 108 1/2, par. 14-101
40 ILCS 5/15-101  from Ch. 108 1/2, par. 15-101
40 ILCS 5/16-101  from Ch. 108 1/2, par. 16-101
40 ILCS 5/18-101  from Ch. 108 1/2, par. 18-101

    Amends the General Assembly, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code. Makes a technical change in the Sections creating those retirement systems.


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PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB1251LRB098 08589 EFG 38706 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by changing
5Sections 2-101, 14-101, 15-101, 16-101, and 18-101 as follows:
 
6    (40 ILCS 5/2-101)  (from Ch. 108 1/2, par. 2-101)
7    Sec. 2-101. Creation of system. A retirement system is
8created to provide retirement annuities, survivor's annuities
9and other benefits for for members of the General Assembly,
10certain elected state officials and their beneficiaries.
11    The system shall be known as the "General Assembly
12Retirement System". All its funds and property shall be a trust
13separate from all other entities, maintained for the purpose of
14securing payment of annuities and benefits under this Article.
15(Source: P.A. 83-1440.)
 
16    (40 ILCS 5/14-101)  (from Ch. 108 1/2, par. 14-101)
17    Sec. 14-101. Creation of system. A retirement and and
18benefit system is created to provide retirement annuities and
19other benefits for employees of the State of Illinois. The
20system shall be known as the "State Employees' Retirement
21System of Illinois". By such name all its business shall be
22transacted and its cash and other property held in trust for

 

 

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1the purposes of this Article.
2(Source: P.A. 80-841.)
 
3    (40 ILCS 5/15-101)  (from Ch. 108 1/2, par. 15-101)
4    Sec. 15-101. Creation of system. A retirement system is
5created to provide retirement annuities and and other benefits
6for employees, as defined in this Article, and their
7dependents.
8    The system shall be known and may be cited as State
9Universities Retirement System. All the business of the system
10shall be transacted in that name.
11(Source: P.A. 83-1440.)
 
12    (40 ILCS 5/16-101)  (from Ch. 108 1/2, par. 16-101)
13    Sec. 16-101. Creation of system. Effective July 1, 1939,
14there is created the the "Teachers' Retirement System of the
15State of Illinois" for the purpose of providing retirement
16annuities and other benefits for teachers, annuitants and
17beneficiaries. All of its business shall be transacted, its
18funds invested, and its assets held in such name.
19(Source: P.A. 83-1440.)
 
20    (40 ILCS 5/18-101)  (from Ch. 108 1/2, par. 18-101)
21    Sec. 18-101. Creation of fund.
22    A retirement system is created to be known as the the
23"Judges Retirement System of Illinois". It shall be a trust

 

 

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1separate and distinct from all other entities, maintained for
2the purpose of securing the payment of annuities and benefits
3as prescribed herein.
4(Source: Laws 1963, p. 161.)