HB4503 101ST GENERAL ASSEMBLY

LRB101 20437 RPS 69993 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB4503

Introduced 2/4/2020, by Rep. Michael J. Zalewski

SYNOPSIS AS INTRODUCED:

40 ILCS 5/8-101

from Ch. 108 1/2, par. 8-101

Amends the Illinois Pension Code. Makes a technical change in a Section concerning Chicago municipal employees, officers, and officials.

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Pension Code is amended by changing Section 8-101 as follows:

(40 ILCS 5/8-101) (from Ch. 108 1/2, par. 8-101)

Sec. 8-101. Creation of fund. In each city of more than 500,000 inhabitants a Municipal Employees', Officers', and and Officials' Annuity and Benefit Fund shall be created, set apart, maintained and administered, in the manner prescribed in this Article, for the benefit of the employees, officers and officials herein designated, and their beneficiaries.

(Source: Laws 1963, p. 161.)