Illinois General Assembly - Full Text of HB2578
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Full Text of HB2578  102nd General Assembly

HB2578 102ND GENERAL ASSEMBLY

  
  

 


 
102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
HB2578

 

Introduced 2/19/2021, by Rep. Mike Murphy

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/1A-205 new

    Amends the Regulation of Public Pension Funds Article of the Illinois Pension Code. Creates the Task Force on Public Pension Funds and Retirement Systems to study and make recommendations for changes to public pension funds and retirement systems that can reduce the burden on taxpayers and ensure that members of public pension funds and retirement systems are treated fairly in their retirement. Requires the Task Force to report its findings and recommendations to the General Assembly by October 31, 2021. Repeals the provisions on October 31, 2022. Effective immediately.


LRB102 14198 RPS 19550 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2578LRB102 14198 RPS 19550 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 adding
5Section 1A-205 as follows:
 
6    (40 ILCS 5/1A-205 new)
7    Sec. 1A-205. Task Force on Public Pension Funds and
8Retirement Systems.
9    (a) The Task Force on Public Pension Funds and Retirement
10Systems is created. The Task Force shall consist of the
11following members:
12        (1) 2 members appointed by the President of the
13    Senate;
14        (2) 2 members appointed by the Minority Leader of the
15    Senate;
16        (3) 2 members appointed by the Speaker of the House of
17    Representatives; and
18        (4) 2 members appointed by the Minority Leader of the
19    House of Representatives.
20    (b) The Task Force shall study and make recommendations
21for changes to public pension funds and retirement systems
22that can reduce the burden on taxpayers and ensure that
23members of public pension funds and retirement systems are

 

 

HB2578- 2 -LRB102 14198 RPS 19550 b

1treated fairly in their retirement. The Task Force shall
2reports its findings and recommendations to the General
3Assembly by October 31, 2021.
4    (c) This Section is repealed on October 31, 2022.
 
5    Section 99. Effective date. This Act takes effect upon
6becoming law.