SR0054

LRB096 04355 AMC 14402 r






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SENATE RESOLUTION


 
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    WHEREAS, Illinois Treasurer, Alexi Giannoulias, has 
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proposed consolidating the investment authority of all 
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Illinois pension systems under the newly created Illinois 
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Public Employee Retirement System; and

 
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    WHEREAS, The economic impact of the consolidation of 
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investment authority for Illinois pension systems would have a 
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negative impact on the economy in central Illinois during these 
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difficult economic times; and

 
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    WHEREAS, The potential cost savings and increased 
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investment return are not guaranteed; and

 
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    WHEREAS, Illinois pension systems have consistently 
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performed above their peer systems in other states; and

 
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    WHEREAS, Having 3 investment pools for the payment of 
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pension benefits provides for the diversification of 
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portfolios; and

 
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    WHEREAS, The loss of well-paying jobs in central Illinois 
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would only further depress the job market in the area; 
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therefore, be it

 
 


 






SR0054
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LRB096 04355 AMC 14402 r




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    RESOLVED, BY THE SENATE OF THE NINETY-SIXTH GENERAL 
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ASSEMBLY OF THE STATE OF ILLINOIS, that we instruct the 
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Commission on Government Forecasting and Accountability to 
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study the economic impact on central Illinois of the number of 
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jobs that would be eliminated due to the consolidation of 
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investment authority in the State Universities Retirement 
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System and the Teachers' Retirement System of State of 
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Illinois; and be it further

 
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    RESOLVED, That the Commission on Government Forecasting 
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and Accountability shall submit a report of its findings and 
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recommendations to the General Assembly and each statewide 
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elected official on or before October 1, 2009.