Full Text of HR0795 97th General Assembly
HR0795 97TH GENERAL ASSEMBLY |
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| 1 | | HOUSE RESOLUTION
| 2 | | WHEREAS, The Teachers' Retirement System, the State | 3 | | Universities Retirement System, the State Employees' | 4 | | Retirement System, the Judges Retirement System, and the | 5 | | General Assembly Retirement System were created to provide | 6 | | retirement benefits for public employees for their public | 7 | | service; and
| 8 | | WHEREAS, The five State retirement systems are only a | 9 | | combined 43.3% funded, with $83 billion in unfunded liability; | 10 | | and
| 11 | | WHEREAS, It has recently been reported by the news media | 12 | | that private sector employees have been earning pension credit | 13 | | in a public sector retirement system for their private sector | 14 | | work; and
| 15 | | WHEREAS, The General Assembly began addressing the problem | 16 | | of private sector employees in public sector retirement systems | 17 | | with the passage of Public Act 97-651; and
| 18 | | WHEREAS, It is in the public interest to conduct a prudent | 19 | | review of all participants in the five State retirement systems | 20 | | to ensure that participation is limited to public servants | 21 | | working for the public good; therefore, be it
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| 1 | | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | 2 | | NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | 3 | | the Auditor General shall audit, examine and report on the | 4 | | potential for participants in the State retirement systems | 5 | | created under Articles 2, 14, 15, 16 and 18 of the Illinois | 6 | | Pension Code to earn service credit in a public retirement | 7 | | system for time spent at a private employer; and be it further
| 8 | | RESOLVED, That the Teachers' Retirement System, the State | 9 | | Universities Retirement System, the State Employees' | 10 | | Retirement System, the Judges Retirement System, the General | 11 | | Assembly Retirement System, and any other entity having | 12 | | information relevant to this audit cooperate fully and promptly | 13 | | with the Auditor General's Office in the conduct of this audit; | 14 | | and be it further
| 15 | | RESOLVED, That the Auditor General commence this audit as | 16 | | soon as possible and report his findings and recommendations | 17 | | upon completion in accordance with the provisions of Section | 18 | | 3-14 of the Illinois State Auditing Act; and be it further | 19 | | RESOLVED, That suitable copies of this resolution be | 20 | | delivered to the Auditor General and the boards of the | 21 | | Teachers' Retirement System, the State Universities Retirement | 22 | | System, the State Employees' Retirement System, the Judges |
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| 1 | | Retirement System, and the General Assembly Retirement System.
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