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92_SB0214
LRB9206079EGfg
1 AN ACT in relation to pensions.
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 of Fund. The purpose of this Fund is
8 to 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 It is the mission of this Fund to efficiently and
14 impartially develop, implement and administer programs that
15 provide income protection to members and their beneficiaries
16 on behalf of participating employers in a prudent manner.
17 (Source: P.A. 87-740.)