[ Search ] [ Legislation ]
[ Home ] [ Back ] [ Bottom ]
91_HB1885
LRB9103351EGfg
1 AN ACT to amend the Illinois Pension Code by adding
2 Section 22-905.
3 Be it enacted by the People of the State of Illinois,
4 represented in the General Assembly:
5 Section 5. The Illinois Pension Code is amended by
6 adding Section 22-905 as follows:
7 (40 ILCS 5/22-905 new)
8 Sec. 22-905. Task Force on Pension Portability.
9 (a) There is hereby created a Task Force on Pension
10 Portability. The Task Force shall consist of 17 members, as
11 follows:
12 (1) Eight members of the General Assembly, 2 each
13 appointed by the President of the Senate, the Senate
14 Minority Leader, the Speaker of the House, and the House
15 Minority Leader.
16 (2) Five public members appointed by the Governor,
17 one of whom shall be designated by the Governor to act as
18 chairperson of the Task Force.
19 (3) Two members appointed by the Commission on the
20 Status of Women.
21 (4) The Executive Director of the Pension Laws
22 Commission, or his or her designee.
23 (5) A representative of the Public Pension Division
24 of the Department of Insurance, designated by the
25 Director of Insurance.
26 (b) The members of the Task Force shall serve without
27 compensation but may be reimbursed for their necessary
28 expenses out of any funds available for that purpose.
29 (c) The Task Force shall examine and consider the
30 advisability of changing the law governing the portability of
31 public employee pension benefits. The Task Force shall
-2- LRB9103351EGfg
1 report its findings and recommendations to the Governor and
2 the General Assembly by March 1, 2000.
3 (d) The Pension Laws Commission and the Public Pension
4 Division of the Department of Insurance shall provide any
5 technical or clerical support required by the Task Force.
6 The Illinois State Board of Investment and all pension
7 funds and retirement systems subject to this Code shall
8 cooperate with the Task Force and shall upon request provide
9 the Task Force with any information or assistance that it may
10 find necessary or useful for the performance of its duties.
11 Section 99. Effective date. This Act takes effect upon
12 becoming law.