96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB4720


 
Introduced 1/4/2010, by Rep. Jack D. Franks
 
SYNOPSIS AS INTRODUCED:
 		













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




40 ILCS 5/2-105
  from Ch. 108 1/2, par. 2-105









    Amends the General Assembly Article of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System by members of the General Assembly to persons who become participants before January 1, 2011 and that, beginning on that date, the System shall not accept any new participants  who are members of the General Assembly. Makes related changes. Effective immediately.
















LRB096 15822 AMC 31064 b

















FISCAL NOTE ACT MAY APPLY


PENSION IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 











HB4720

LRB096 15822 AMC 31064 b






1
    AN ACT concerning public employee benefits.

 
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    Be it enacted by the People of the State of Illinois,
 
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represented in the General Assembly:



 
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    Section 5. The Illinois Pension Code is amended by changing 
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Sections
2-101 and 2-105 as follows:



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

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    Sec. 2-101. Creation of system.   A retirement system is 
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created to provide
retirement annuities, survivor's annuities 
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and other benefits for certain
members of the General Assembly, 
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certain elected state officials, and their
beneficiaries.


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    The system shall be known as the "General Assembly 
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Retirement System".
All its funds and property shall be a trust 
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separate from all other
entities, maintained for the purpose of 
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securing payment of annuities and
benefits under this Article.


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    Participation in the retirement system created under this 
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Article by members of the General Assembly is
restricted to 
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persons who become participants before January 1, 2011.

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Beginning on that date, the System shall not accept any new 
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participants who are members of the General Assembly.


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(Source: P.A. 83-1440.)

 
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    (40 ILCS 5/2-105)  (from Ch. 108 1/2, par. 2-105)

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    Sec. 2-105. Member.  "Member": Members of the General 
 


 






HB4720
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LRB096 15822 AMC 31064 b




1
Assembly of this
State, including persons who enter military 
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service while a member of the
General Assembly, and any person 
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serving as Governor, Lieutenant Governor,
Secretary of State, 
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Treasurer, Comptroller, or Attorney General for the period
of 
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service in such office.


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    Any person who has served for 10 or more years as Clerk or 
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Assistant Clerk
of the House of Representatives, Secretary or 
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Assistant Secretary of the
Senate, or any combination thereof, 
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may elect to become a member
of this system while thenceforth 
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engaged in such service by filing a
written election with the 
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board.  Any person so electing shall be
deemed an active member 
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of the General Assembly for the purpose of validating
and 
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transferring any service credits earned under any of the funds 
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and systems
established under Articles 3 through 18 of this 
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Code.


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    However, notwithstanding any other provision of this 
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Article, a member of the General Assembly
shall not be deemed a 
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member for the purposes of this Article unless he or she
became 
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a participant of the System before January 1, 2011.


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(Source: P.A. 85-1008.)


 

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    Section 99. Effective date. This Act takes effect upon 
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becoming law.