94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB2371

 

Introduced 2/16/2005, by Rep. Robert S. Molaro

 

SYNOPSIS AS INTRODUCED:
 
New Act

    Creates the Public School Teachers' Pension and Retirement Fund of Chicago Continuing Appropriation Act. Provides for appropriations from the Common School Fund to the Public School Teachers' Pension and Retirement Fund of Chicago of the amount by which the total available amount of all other appropriations to that Retirement Fund for the payment of State contributions is less than the total amount of the vouchers for required State contributions lawfully submitted by the Retirement Fund for that month under Section 17-127 of the Illinois Pension Code on a continuing monthly basis. Provides that nothing in the Act shall be construed, interpreted, or otherwise viewed to imply an authorization, desire, or intent to merge or in any other way combine the Public School Teachers' Pension and Retirement Fund of Chicago with any other pension fund. Effective immediately.


LRB094 08347 AMC 38540 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB2371 LRB094 08347 AMC 38540 b

1     AN ACT concerning public employee benefits.
 
2     Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
 
4     Section 1. Short title. This Act may be cited as the Public
5 School Teachers' Pension and Retirement Fund of Chicago
6 Continuing Appropriation Act.
 
7     Section 5. Continuing appropriation. There is appropriated
8 from the Common School Fund to the Public School Teachers'
9 Pension and Retirement Fund of Chicago on a continuing monthly
10 basis beginning July 1, 2005, the amount, if any, by which the
11 total available amount of all other appropriations to that
12 Retirement Fund for the payment of State contributions is less
13 than the total amount of the vouchers for required State
14 contributions lawfully submitted by the Retirement Fund for
15 that month under Section 17-127 of the Illinois Pension Code.
 
16     Section 10. Construction. Nothing in this Act shall be
17 construed, interpreted, or otherwise viewed to imply an
18 authorization, desire, or intent to merge or in any other way
19 combine the Public School Teachers' Pension and Retirement Fund
20 of Chicago with any other pension fund.
 
21     Section 99. Effective date. This Act takes effect upon
22 becoming law.