Illinois General Assembly

Previous General Assemblies

Full Text of SB0030  97th General Assembly

SB0030 97TH GENERAL ASSEMBLY


 


 
97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0030

 

Introduced 1/27/2011, by Sen. Chris Lauzen

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/2-101  from Ch. 108 1/2, par. 2-101
40 ILCS 5/2-105  from Ch. 108 1/2, par. 2-105

    Amends the General Assembly Article of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System to persons who become participants before July 1, 2011 and provides that, beginning on that date, the System shall not accept any new participants. Makes related changes. Effective immediately.


LRB097 02752 JDS 42774 b

FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB0030LRB097 02752 JDS 42774 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by changing
5Sections 2-101 and 2-105 as follows:
 
6    (40 ILCS 5/2-101)  (from Ch. 108 1/2, par. 2-101)
7    Sec. 2-101. Creation of system. A retirement system is
8created to provide retirement annuities, survivor's annuities
9and other benefits for certain members of the General Assembly,
10certain elected state officials, and their beneficiaries.
11    The system shall be known as the "General Assembly
12Retirement System". All its funds and property shall be a trust
13separate from all other entities, maintained for the purpose of
14securing payment of annuities and benefits under this Article.
15    Participation in the retirement system created under this
16Article is restricted to persons who become participants before
17July 1, 2011. Beginning on that date, the System shall not
18accept any new participants.
19(Source: P.A. 83-1440.)
 
20    (40 ILCS 5/2-105)  (from Ch. 108 1/2, par. 2-105)
21    Sec. 2-105. Member. "Member": Members of the General
22Assembly of this State, including persons who enter military

 

 

SB0030- 2 -LRB097 02752 JDS 42774 b

1service while a member of the General Assembly, and any person
2serving as Governor, Lieutenant Governor, Secretary of State,
3Treasurer, Comptroller, or Attorney General for the period of
4service in such office.
5    Any person who has served for 10 or more years as Clerk or
6Assistant Clerk of the House of Representatives, Secretary or
7Assistant Secretary of the Senate, or any combination thereof,
8may elect to become a member of this system while thenceforth
9engaged in such service by filing a written election with the
10board. Any person so electing shall be deemed an active member
11of the General Assembly for the purpose of validating and
12transferring any service credits earned under any of the funds
13and systems established under Articles 3 through 18 of this
14Code.
15    However, notwithstanding any other provision of this
16Article, a person shall not be deemed a member for the purposes
17of this Article unless he or she became a participant of the
18System before July 1, 2011.
19(Source: P.A. 85-1008.)
 
20    Section 99. Effective date. This Act takes effect upon
21becoming law.