97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB0517

 

Introduced 01/31/11, by Rep. Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/5-101  from Ch. 108 1/2, par. 5-101

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning Chicago police.


LRB097 03344 JDS 43381 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB0517LRB097 03344 JDS 43381 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 changing
5Section 5-101 as follows:
 
6    (40 ILCS 5/5-101)  (from Ch. 108 1/2, par. 5-101)
7    Sec. 5-101. Creation of fund.
8    In each city of more than 500,000 inhabitants a policemen's
9annuity and and benefit fund shall be created and maintained
10for the benefit of its policemen, their widows and children,
11and of all contributors to, participants in, and beneficiaries
12of any police pension fund in operation, by authority of law,
13in such city immediately prior to the effective date. For the
14purposes of this Article, the policemen's annuity and benefit
15fund may be referred to as the "fund."
16(Source: Laws 1963, p. 161.)