093_HB0603eng

 
HB0603 Engrossed                     LRB093 05655 EFG 05748 b

 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
13    such name.
14    (Source: P.A. 83-1440.)