Full Text of HB0071 99th General Assembly
HB0071 99TH GENERAL ASSEMBLY |
| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016 HB0071 Introduced , by Rep. Lou Lang SYNOPSIS AS INTRODUCED: |
| 40 ILCS 5/2-101 | from Ch. 108 1/2, par. 2-101 | 40 ILCS 5/14-101 | from Ch. 108 1/2, par. 14-101 | 40 ILCS 5/15-101 | from Ch. 108 1/2, par. 15-101 | 40 ILCS 5/16-101 | from Ch. 108 1/2, par. 16-101 | 40 ILCS 5/18-101 | from Ch. 108 1/2, par. 18-101 |
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Amends the General Assembly, State Employees, State Universities, Downstate Teachers, and Judges Articles of the Illinois Pension Code. Makes a technical change in the Sections creating those retirement systems.
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| | A BILL FOR |
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| | | HB0071 | | LRB099 00322 RPS 20327 b |
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| 1 | | AN ACT concerning public employee benefits.
| 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 changing | 5 | | Sections 2-101, 14-101, 15-101, 16-101, and 18-101 as follows:
| 6 | | (40 ILCS 5/2-101) (from Ch. 108 1/2, par. 2-101)
| 7 | | Sec. 2-101. Creation of system. A retirement system is | 8 | | created to provide retirement annuities,
survivor's annuities | 9 | | and other benefits for for members of the
General Assembly, | 10 | | certain elected state officials and their beneficiaries.
| 11 | | The system shall be known as the "General Assembly | 12 | | Retirement System".
All its funds and property shall be a trust | 13 | | separate from all other
entities, maintained for the purpose of | 14 | | securing payment of annuities and
benefits under this Article.
| 15 | | (Source: P.A. 83-1440.)
| 16 | | (40 ILCS 5/14-101) (from Ch. 108 1/2, par. 14-101)
| 17 | | Sec. 14-101. Creation of system. A retirement and and | 18 | | benefit system is created to provide retirement
annuities and | 19 | | other benefits for employees of the State of Illinois. The
| 20 | | system shall be known as the "State Employees' Retirement | 21 | | System of
Illinois". By such name all its business shall be | 22 | | transacted and its cash
and other property held in trust for
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| | | HB0071 | - 2 - | LRB099 00322 RPS 20327 b |
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| 1 | | the purposes of this Article.
| 2 | | (Source: P.A. 80-841.)
| 3 | | (40 ILCS 5/15-101) (from Ch. 108 1/2, par. 15-101)
| 4 | | Sec. 15-101. Creation of system. A
retirement system is | 5 | | created to provide
retirement annuities and and other benefits | 6 | | for employees,
as defined in this
Article, and their | 7 | | dependents.
| 8 | | The system shall be known and may be cited as State | 9 | | Universities Retirement
System. All the business of the system
| 10 | | shall be transacted in that name.
| 11 | | (Source: P.A. 83-1440.)
| 12 | | (40 ILCS 5/16-101) (from Ch. 108 1/2, par. 16-101)
| 13 | | Sec. 16-101. Creation of system. Effective July 1, 1939,
| 14 | | there is created the the "Teachers' Retirement System of the | 15 | | State of
Illinois" for the purpose of providing retirement | 16 | | annuities and other
benefits for teachers, annuitants and | 17 | | beneficiaries. All of its business
shall be transacted, its | 18 | | funds invested, and its assets held in such name.
| 19 | | (Source: P.A. 83-1440.)
| 20 | | (40 ILCS 5/18-101) (from Ch. 108 1/2, par. 18-101)
| 21 | | Sec. 18-101. Creation of fund.
| 22 | | A retirement system is created to be known as the the | 23 | | "Judges Retirement
System of Illinois". It shall be a trust |
| | | HB0071 | - 3 - | LRB099 00322 RPS 20327 b |
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| 1 | | separate and distinct from all
other entities, maintained for | 2 | | the purpose of securing the payment of
annuities and benefits | 3 | | as prescribed herein.
| 4 | | (Source: Laws 1963, p. 161.)
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