Illinois General Assembly - Full Text of Public Act 094-0536
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Public Act 094-0536




Public Act 094-0536
SB0763 Enrolled LRB094 04424 AMC 34453 b

    AN ACT concerning public employee benefits.
    Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
    Section 5. The Illinois Pension Code is amended by changing
Section 2-134 as follows:
    (40 ILCS 5/2-134)   (from Ch. 108 1/2, par. 2-134)
    Sec. 2-134. To certify required State contributions and
submit vouchers.
    (a) The Board shall certify to the Governor on or before
December November 15 of each year the amount of the required
State contribution to the System for the next fiscal year. The
certification shall include a copy of the actuarial
recommendations upon which it is based.
    On or before May 1, 2004, the Board shall recalculate and
recertify to the Governor the amount of the required State
contribution to the System for State fiscal year 2005, taking
into account the amounts appropriated to and received by the
System under subsection (d) of Section 7.2 of the General
Obligation Bond Act.
    (b) Beginning in State fiscal year 1996, on or as soon as
possible after the 15th day of each month the Board shall
submit vouchers for payment of State contributions to the
System, in a total monthly amount of one-twelfth of the
required annual State contribution certified under subsection
(a). From the effective date of this amendatory Act of the 93rd
General Assembly through June 30, 2004, the Board shall not
submit vouchers for the remainder of fiscal year 2004 in excess
of the fiscal year 2004 certified contribution amount
determined under this Section after taking into consideration
the transfer to the System under subsection (d) of Section
6z-61 of the State Finance Act. These vouchers shall be paid by
the State Comptroller and Treasurer by warrants drawn on the
funds appropriated to the System for that fiscal year. If in
any month the amount remaining unexpended from all other
appropriations to the System for the applicable fiscal year
(including the appropriations to the System under Section 8.12
of the State Finance Act and Section 1 of the State Pension
Funds Continuing Appropriation Act) is less than the amount
lawfully vouchered under this Section, the difference shall be
paid from the General Revenue Fund under the continuing
appropriation authority provided in Section 1.1 of the State
Pension Funds Continuing Appropriation Act.
    (c) The full amount of any annual appropriation for the
System for State fiscal year 1995 shall be transferred and made
available to the System at the beginning of that fiscal year at
the request of the Board. Any excess funds remaining at the end
of any fiscal year from appropriations shall be retained by the
System as a general reserve to meet the System's accrued
(Source: P.A. 93-2, eff. 4-7-03; 93-665, eff. 3-5-04.)
    Section 99. Effective date. This Act takes effect upon
becoming law.

Effective Date: 8/10/2005