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92_SB1245 LRB9201373LDpr 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 16-101 as follows: 6 (40 ILCS 5/16-101) (from Ch. 108 1/2, par. 16-101) 7 Sec. 16-101. Creation of system. Effective July 1, 8 1939, there is created the "Teachers' Retirement System of 9 the State of Illinois" for the purpose of providing 10 retirement annuities and other benefits for teachers, 11 annuitants and beneficiaries. All of its business shall be 12 transacted, its funds invested, and its assets held in this 13suchname. 14 (Source: P.A. 83-1440.)