98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB3114

 

Introduced , by Rep. Scott Drury

 

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, beginning on the effective date of the amendatory Act, no person is eligible to participate in the General Assembly Retirement System System, and no annuity shall be paid by the System. Effective immediately.


LRB098 09275 EFG 39415 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB3114LRB098 09275 EFG 39415 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,
16beginning on the effective date of this amendatory Act of the
1798th General Assembly, no person is eligible to participate in
18the system established under this Article, and no annuity shall
19be paid by the System.
20(Source: P.A. 83-1440.)
 
21    Section 99. Effective date. This Act takes effect upon
22becoming law.