97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
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.
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A BILL FOR
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AN ACT concerning public employee benefits.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
The Illinois Pension Code is amended by changing
2-101 and 2-105 as follows:
(40 ILCS 5/2-101)
(from Ch. 108 1/2, par. 2-101)
Creation of system.
A retirement system is
created to provide
retirement annuities, survivor's annuities
and other benefits for
members of the General Assembly,
certain elected state officials
The system shall be known as the "General Assembly
All its funds and property shall be a trust
separate from all other
entities, maintained for the purpose of
securing payment of annuities and
benefits under this Article.
Participation in the retirement system created under this
restricted to persons who become participants before
July 1, 2011.
Beginning on that date, the System shall not
accept any new participants.
(Source: P.A. 83-1440.)
(40 ILCS 5/2-105)
(from Ch. 108 1/2, par. 2-105)
"Member": Members of the General
Assembly of this
including persons who enter military