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93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB3002
Introduced 2/6/2004, by Denny Jacobs SYNOPSIS AS INTRODUCED:
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40 ILCS 5/16-101 |
from Ch. 108 1/2, par. 16-101 |
40 ILCS 5/17-101 |
from Ch. 108 1/2, par. 17-101 |
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Amends the Illinois Pension Code. Makes a technical change in a Section
concerning downstate teachers.
Makes a technical change in a Section
concerning Chicago teachers. |
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| PENSION IMPACT NOTE ACT MAY APPLY | |
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A BILL FOR
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SB3002 |
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LRB093 19862 LRD 45605 b |
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| AN ACT in relation to public employee benefits.
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| Be it enacted by the People of the State of Illinois, |
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| represented in the General Assembly:
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| Section 5. The Illinois Pension Code is amended by changing
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| Sections 16-101 and 17-101 as follows:
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| (40 ILCS 5/16-101) (from Ch. 108 1/2, par. 16-101)
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| Sec. 16-101. Creation of system. Effective July 1, 1939,
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| there is created the "Teachers' Retirement System of the State |
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Illinois" for the purpose of providing retirement annuities |
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| and other
benefits for teachers, annuitants and beneficiaries. |
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| All of its business
shall be transacted, its funds invested, |
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| and its assets held in this
such name.
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| (Source: P.A. 83-1440.)
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| (40 ILCS 5/17-101) (from Ch. 108 1/2, par. 17-101)
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| Sec. 17-101. Creation of pension and retirement fund. In |
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| each city with
a population over 500,000, there is created a |
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| Public
School Teachers' Pension and Retirement Fund to be |
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| maintained and
administered in the manner prescribed in this |
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| Article and to be known as
the Public School Teachers' Pension |
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| and Retirement Fund of ....(city).
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| (Source: Laws 1963, p. 161.)
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