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92_SB0966
LRB9202487EGfg
1 AN ACT in relation to public employee benefits.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 5. The Illinois Pension Code is amended by
5 adding Section 14-135.11 as follows:
6 (40 ILCS 5/14-135.11 new)
7 Sec. 14-135.11. To study and report on a defined
8 contribution retirement plan.
9 The Board shall study and report to the Governor and the
10 General Assembly by December 31, 2001 on the advisability of
11 having a defined contribution retirement plan as an
12 alternative to the benefits currently provided by the System.
13 The report shall include a discussion of the probable
14 benefits, obstacles, and costs of such a plan.
15 Section 99. Effective date. This Act takes effect upon
16 becoming law.