HB2371 94TH GENERAL ASSEMBLY

LRB094 08347 AMC 38540 b

94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB2371

Introduced 2/16/2005, by Rep. Robert S. Molaro

SYNOPSIS AS INTRODUCED:

New Act

Creates the Public School Teachers' Pension and Retirement Fund of Chicago Continuing Appropriation Act. Provides for appropriations from the Common School Fund to the Public School Teachers' Pension and Retirement Fund of Chicago of the amount by which the total available amount of all other appropriations to that Retirement Fund for the payment of State contributions is less than the total amount of the vouchers for required State contributions lawfully submitted by the Retirement Fund for that month under Section 17-127 of the Illinois Pension Code on a continuing monthly basis. Provides that nothing in the Act shall be construed, interpreted, or otherwise viewed to imply an authorization, desire, or intent to merge or in any other way combine the Public School Teachers' Pension and Retirement Fund of Chicago with any other pension fund. Effective immediately.

FISCAL NOTE ACT MAY APPLY

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 1. Short title. This Act may be cited as the Public School Teachers' Pension and Retirement Fund of Chicago Continuing Appropriation Act.

Section 5. Continuing appropriation. There is appropriated from the Common School Fund to the Public School Teachers' Pension and Retirement Fund of Chicago on a continuing monthly basis beginning July 1, 2005, the amount, if any, by which the total available amount of all other appropriations to that Retirement Fund for the payment of State contributions is less than the total amount of the vouchers for required State contributions lawfully submitted by the Retirement Fund for that month under Section 17-127 of the Illinois Pension Code.

Section 10. Construction. Nothing in this Act shall be construed, interpreted, or otherwise viewed to imply an authorization, desire, or intent to merge or in any other way combine the Public School Teachers' Pension and Retirement Fund of Chicago with any other pension fund.

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