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| | 102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB1058 Introduced 2/25/2021, by Sen. Don Harmon SYNOPSIS AS INTRODUCED:
| | 40 ILCS 5/16-101 | from Ch. 108 1/2, par. 16-101 |
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Amends the Illinois Pension Code. Makes a technical change in a Section
concerning downstate teachers.
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| | | PENSION IMPACT NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | SB1058 | | LRB102 04873 RPS 14892 b |
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| 1 | | AN ACT concerning public employee benefits.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Pension Code is amended by |
| 5 | | changing Section 16-101 as follows:
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| 6 | | (40 ILCS 5/16-101) (from Ch. 108 1/2, par. 16-101)
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| 7 | | Sec. 16-101. Creation of system. Effective July 1, 1939,
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| 8 | | there is created the
the "Teachers' Retirement System of the |
| 9 | | State of
Illinois" for the purpose of providing retirement |
| 10 | | annuities and other
benefits for teachers, annuitants and |
| 11 | | beneficiaries. All of its business
shall be transacted, its |
| 12 | | funds invested, and its assets held in such name. |
| 13 | | (Source: P.A. 83-1440.)
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