96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
SB2984


 
Introduced 2/2/2010, by Sen. William R. Haine
 
SYNOPSIS AS INTRODUCED:
 		





 







40 ILCS 5/7-225 new











     Amends the IMRF Article of the Illinois Pension Code. Provides that, within 6 months after the adoption of any system under the Code that would permit the establishment of a multi-tier benefit program, the governing board of the Illinois Municipal Retirement Fund shall adopt a system that requires newly hired employees to be enrolled in a new benefit program substantially similar to the program adopted under the Code. Effective immediately.
  















LRB096 18030 AMC 33402 b

















PENSION IMPACT NOTE ACT MAY APPLY
















 


 


A BILL FOR









 




  






SB2984

LRB096 18030 AMC 33402 b





  
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    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 adding 
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Section 7-225 as follows:
 
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    (40 ILCS 5/7-225 new)
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    Sec. 7-225. Multi-tier benefit program. Within 6 months 
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after the adoption of any system under this Code that would 
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permit the establishment of a multi-tier benefit program, the 
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governing board of the Illinois Municipal Retirement Fund shall 
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adopt a system that requires newly hired employees to be 
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enrolled in a new benefit program substantially similar to the 
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program adopted under this Code.
 
 
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    Section 99. Effective date. This Act takes effect upon 
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becoming law.