96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB1562


 
Introduced 2/18/2009, by Rep. Michael J. Madigan - Barbara Flynn Currie - Kevin A. McCarthy
 
SYNOPSIS AS INTRODUCED:
 		













40 ILCS 5/16-101
  from Ch. 108 1/2, par. 16-101







    Amends the Illinois Pension Code.  Makes a technical change in a Section
concerning downstate teachers.
















LRB096 05115 AMC 15181 b

















PENSION IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB1562

LRB096 05115 AMC 15181 b






1
    AN ACT concerning 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 changing 
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Section 16-101 as follows:
 



6
    (40 ILCS 5/16-101)  (from Ch. 108 1/2, par. 16-101)



7
    Sec. 16-101. Creation of system. Effective July 1, 1939,

8
there is created the
the "Teachers' Retirement System of the 
9
State of
Illinois" for the purpose of providing retirement 
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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.)