SB2311 93RD GENERAL ASSEMBLY

LRB093 19718 LRD 45459 b

93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2311

Introduced 1/28/2004, by Bill Brady

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. Effective Immediately.

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT in relation to pensions.

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 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 the 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.)

Section 99. Effective date. This Act takes effect upon becoming law.