State of Illinois
92nd General Assembly
Legislation

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92_HB4517

 
                                               LRB9212354EGfg

 1        AN ACT in relation to 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
 5    changing Section 7-102 as follows:

 6        (40 ILCS 5/7-102) (from Ch. 108 1/2, par. 7-102)
 7        Sec.  7-102.   Purpose.   The  purpose of this Fund is to
 8    provide a sound and  efficient  system  for  the  payment  of
 9    annuities  and  other  benefits, in addition to the annuities
10    and benefits available, as herein provided, under the federal
11    Social Security Act, to certain officers and  employees,  and
12    to their beneficiaries, of municipalities, as herein defined,
13    and to their beneficiaries.
14        It  is  the  mission  of  this  Fund  to  efficiently and
15    impartially develop, implement and administer  programs  that
16    provide  income protection to members and their beneficiaries
17    on behalf of participating employers in a prudent manner.
18    (Source: P.A. 87-740.)

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