98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB1251
 
Introduced , by Rep. Lou Lang
 
SYNOPSIS AS INTRODUCED:
 

 
          
40 ILCS 5/2-101  from Ch. 108 1/2, par. 2-101
40 ILCS 5/14-101  from Ch. 108 1/2, par. 14-101
40 ILCS 5/15-101  from Ch. 108 1/2, par. 15-101
40 ILCS 5/16-101  from Ch. 108 1/2, par. 16-101
40 ILCS 5/18-101  from Ch. 108 1/2, par. 18-101

     Amends the General Assembly, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code.  Makes a technical change in the Sections creating those retirement systems.
  


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PENSION IMPACT NOTE ACT MAY APPLY
 
 
A BILL FOR
 

  
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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 
5Sections 2-101, 14-101, 15-101, 16-101, and 18-101 as follows:
 



6    (40 ILCS 5/2-101)  (from Ch. 108 1/2, par. 2-101)



7    Sec. 2-101. Creation of system. A retirement system is 
8created to provide retirement annuities,
survivor's annuities 
9and other benefits for for members of the
General Assembly, 
10certain elected state officials and their beneficiaries.

11    The system shall be known as the "General Assembly 
12Retirement System".
All its funds and property shall be a trust 
13separate from all other
entities, maintained for the purpose of 
14securing payment of annuities and
benefits under this Article.

15(Source: P.A. 83-1440.)

 



16    (40 ILCS 5/14-101)  (from Ch. 108 1/2, par. 14-101)



17    Sec. 14-101. Creation of system. A retirement and and 
18benefit system is created to provide retirement
annuities and 
19other benefits for employees of the State of Illinois. The

20system shall be known as the "State Employees' Retirement 
21System of
Illinois". By such name all its business shall be 
22transacted and its cash
and other property held in trust for

 
 
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1the purposes of this Article.

2(Source: P.A. 80-841.)

 



3    (40 ILCS 5/15-101)  (from Ch. 108 1/2, par. 15-101)



4    Sec. 15-101. Creation of system. A
retirement system is 
5created to provide
retirement annuities and and other benefits 
6for employees,
as defined in this
Article, and their 
7dependents.

8    The system shall be known and may be cited as State 
9Universities Retirement
System. All the business of the system

10shall be transacted in that name.

11(Source: P.A. 83-1440.)

 



12    (40 ILCS 5/16-101)  (from Ch. 108 1/2, par. 16-101)



13    Sec. 16-101. Creation of system. Effective July 1, 1939,

14there is created the the "Teachers' Retirement System of the 
15State of
Illinois" for the purpose of providing retirement 
16annuities and other
benefits for teachers, annuitants and 
17beneficiaries. All of its business
shall be transacted, its 
18funds invested, and its assets held in such name.

19(Source: P.A. 83-1440.)

 



20    (40 ILCS 5/18-101)  (from Ch. 108 1/2, par. 18-101)



21    Sec. 18-101. Creation of fund. 

22    A retirement system is created to be known as the the 
23"Judges Retirement
System of Illinois". It shall be a trust 
 
 
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1separate and distinct from all
other entities, maintained for 
2the purpose of securing the payment of
annuities and benefits 
3as prescribed herein.

4(Source: Laws 1963, p. 161.)