Sen. James F. Clayborne Jr.

Filed: 4/11/2005

 

 


 

 


 
09400SB0763sam001 LRB094 04424 AMC 44402 a

1
AMENDMENT TO SENATE BILL 763

2     AMENDMENT NO. ______. Amend Senate Bill 763 by replacing
3 everything after the enacting clause with the following:
 
4     "Section 5. The Illinois Pension Code is amended by
5 changing Section 2-134 as follows:
 
6     (40 ILCS 5/2-134)   (from Ch. 108 1/2, par. 2-134)
7     Sec. 2-134. To certify required State contributions and
8 submit vouchers.
9     (a) The Board shall certify to the Governor on or before
10 December November 15 of each year the amount of the required
11 State contribution to the System for the next fiscal year. The
12 certification shall include a copy of the actuarial
13 recommendations upon which it is based.
14     On or before May 1, 2004, the Board shall recalculate and
15 recertify to the Governor the amount of the required State
16 contribution to the System for State fiscal year 2005, taking
17 into account the amounts appropriated to and received by the
18 System under subsection (d) of Section 7.2 of the General
19 Obligation Bond Act.
20     (b) Beginning in State fiscal year 1996, on or as soon as
21 possible after the 15th day of each month the Board shall
22 submit vouchers for payment of State contributions to the
23 System, in a total monthly amount of one-twelfth of the
24 required annual State contribution certified under subsection

 

 

09400SB0763sam001 - 2 - LRB094 04424 AMC 44402 a

1 (a). From the effective date of this amendatory Act of the 93rd
2 General Assembly through June 30, 2004, the Board shall not
3 submit vouchers for the remainder of fiscal year 2004 in excess
4 of the fiscal year 2004 certified contribution amount
5 determined under this Section after taking into consideration
6 the transfer to the System under subsection (d) of Section
7 6z-61 of the State Finance Act. These vouchers shall be paid by
8 the State Comptroller and Treasurer by warrants drawn on the
9 funds appropriated to the System for that fiscal year. If in
10 any month the amount remaining unexpended from all other
11 appropriations to the System for the applicable fiscal year
12 (including the appropriations to the System under Section 8.12
13 of the State Finance Act and Section 1 of the State Pension
14 Funds Continuing Appropriation Act) is less than the amount
15 lawfully vouchered under this Section, the difference shall be
16 paid from the General Revenue Fund under the continuing
17 appropriation authority provided in Section 1.1 of the State
18 Pension Funds Continuing Appropriation Act.
19     (c) The full amount of any annual appropriation for the
20 System for State fiscal year 1995 shall be transferred and made
21 available to the System at the beginning of that fiscal year at
22 the request of the Board. Any excess funds remaining at the end
23 of any fiscal year from appropriations shall be retained by the
24 System as a general reserve to meet the System's accrued
25 liabilities.
26 (Source: P.A. 93-2, eff. 4-7-03; 93-665, eff. 3-5-04.)
 
27     Section 99. Effective date. This Act takes effect upon
28 becoming law.".