HR0795LRB097 18660 EFG 63894 r

1
HOUSE RESOLUTION

 
2    WHEREAS, The Teachers' Retirement System, the State
3Universities Retirement System, the State Employees'
4Retirement System, the Judges Retirement System, and the
5General Assembly Retirement System were created to provide
6retirement benefits for public employees for their public
7service; and
 
8    WHEREAS, The five State retirement systems are only a
9combined 43.3% funded, with $83 billion in unfunded liability;
10and
 
11    WHEREAS, It has recently been reported by the news media
12that private sector employees have been earning pension credit
13in a public sector retirement system for their private sector
14work; and
 
15    WHEREAS, The General Assembly began addressing the problem
16of private sector employees in public sector retirement systems
17with the passage of Public Act 97-651; and
 
18    WHEREAS, It is in the public interest to conduct a prudent
19review of all participants in the five State retirement systems
20to ensure that participation is limited to public servants
21working for the public good; therefore, be it
 

 

 

HR0795- 2 -LRB097 18660 EFG 63894 r

1    RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE
2NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that
3the Auditor General shall audit, examine and report on the
4potential for participants in the State retirement systems
5created under Articles 2, 14, 15, 16 and 18 of the Illinois
6Pension Code to earn service credit in a public retirement
7system for time spent at a private employer; and be it further
 
8    RESOLVED, That the Teachers' Retirement System, the State
9Universities Retirement System, the State Employees'
10Retirement System, the Judges Retirement System, the General
11Assembly Retirement System, and any other entity having
12information relevant to this audit cooperate fully and promptly
13with the Auditor General's Office in the conduct of this audit;
14and be it further
 
15    RESOLVED, That the Auditor General commence this audit as
16soon as possible and report his findings and recommendations
17upon completion in accordance with the provisions of Section
183-14 of the Illinois State Auditing Act; and be it further
 
19    RESOLVED, That suitable copies of this resolution be
20delivered to the Auditor General and the boards of the
21Teachers' Retirement System, the State Universities Retirement
22System, the State Employees' Retirement System, the Judges

 

 

HR0795- 3 -LRB097 18660 EFG 63894 r

1Retirement System, and the General Assembly Retirement System.