HB0427 98TH GENERAL ASSEMBLY

LRB098 03231 JDS 33246 b

98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB0427

Introduced 1/25/2013, by Rep. Michael J. Madigan

SYNOPSIS AS INTRODUCED:

40 ILCS 5/5-101

from Ch. 108 1/2, par. 5-101

Amends the Illinois Pension Code. Makes a technical change in a Section concerning Chicago police.

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 5-101 as follows:

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

Sec. 5-101. Creation of fund.

In each city of more than 500,000 inhabitants a policemen's annuity and and benefit fund shall be created and maintained for the benefit of its policemen, their widows and children, and of all contributors to, participants in, and beneficiaries of any police pension fund in operation, by authority of law, in such city immediately prior to the effective date. For the purposes of this Article, the policemen's annuity and benefit fund may be referred to as the "fund."

(Source: Laws 1963, p. 161.)