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

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


LRB102 04873 RPS 14892 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB1058LRB102 04873 RPS 14892 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by
5changing 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,
8there is created the the "Teachers' Retirement System of the
9State of Illinois" for the purpose of providing retirement
10annuities and other benefits for teachers, annuitants and
11beneficiaries. All of its business shall be transacted, its
12funds invested, and its assets held in such name.
13(Source: P.A. 83-1440.)