98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB2906

 

Introduced , by Rep. Stephanie A Kifowit

 

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

    Amends the General Assembly Article of the Illinois Pension Code. Provides that participation in the General Assembly Retirement System is restricted to those individuals who first became participants before the effective date of the amendatory Act. Effective immediately.


LRB098 03994 JDS 34014 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2906LRB098 03994 JDS 34014 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 2-101 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 certain 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    Notwithstanding any other provision of this Article,
16participation in the retirement system created under this
17Article is restricted to those individuals who first became
18participants before the effective date of this amendatory Act
19of the 98th General Assembly.
20(Source: P.A. 83-1440.)
 
21    Section 99. Effective date. This Act takes effect upon
22becoming law.