SB1672 97TH GENERAL ASSEMBLY

LRB097 07602 JDS 47713 b

97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB1672

Introduced 2/9/2011, by Sen. Kwame Raoul

SYNOPSIS AS INTRODUCED:

40 ILCS 5/6-184

from Ch. 108 1/2, par. 6-184

Amends the Chicago Firefighter Article of the Illinois Pension Code. Provides that, beginning in calendar year 2011 and in each odd-numbered year thereafter, the board must prepare a report for inclusion in its annual audit specifying the annual cost of duty disability to the fund.

FISCAL NOTE ACT MAY APPLY

PENSION IMPACT NOTE ACT MAY APPLY

STATE MANDATES ACT MAY REQUIRE REIMBURSEMENT

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 6-184 as follows:

(40 ILCS 5/6-184) (from Ch. 108 1/2, par. 6-184)

Sec. 6-184. To have an audit. To contract with an independent certified public accounting firm to perform an annual audit of the assets of the fund and issue a financial opinion. The annual audit shall be in addition to any examination of the fund by the State Director of Insurance.

Beginning with calendar year 2011, and every odd-numbered year thereafter, the board shall prepare a report for inclusion in its annual audit of the annual cost of duty disability to the fund.

(Source: P.A. 86-273.)