093_HB0580eng

 
HB0580 Engrossed                     LRB093 05656 EFG 05749 b

 1        AN ACT in relation to pensions.

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

 4        Section  5.  The Illinois  Pension  Code  is  amended  by
 5    changing Section 2-101 as follows:

 6        (40 ILCS 5/2-101) (from Ch. 108 1/2, par. 2-101)
 7        Sec.  2-101.  Creation of retirement system. A retirement
 8    system is created to provide retirement annuities, survivor's
 9    annuities and other  benefits  for  members  of  the  General
10    Assembly,   certain   elected   state   officials  and  their
11    beneficiaries.
12        The system  shall  be  known  as  the  "General  Assembly
13    Retirement  System".  All  its  funds and property shall be a
14    trust separate from all other entities,  maintained  for  the
15    purpose  of  securing payment of annuities and benefits under
16    this Article.
17    (Source: P.A. 83-1440.)