93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2314

 

Introduced 1/28/2004, by Bill Brady

 

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

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning the General Assembly. Effective immediately.


LRB093 19719 LRD 45460 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB2314 LRB093 19719 LRD 45460 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 changing
5 Section 2-101 as follows:
 
6     (40 ILCS 5/2-101)  (from Ch. 108 1/2, par. 2-101)
7     Sec. 2-101. Creation of retirement system. A retirement
8 system is created to provide retirement annuities, survivor's
9 annuities and other benefits for members of the General
10 Assembly, certain elected state officials and their
11 beneficiaries.
12     The system shall be known as the "General Assembly
13 Retirement System". All its funds and property shall be a trust
14 separate from all other entities, maintained for the purpose of
15 securing payment of annuities and benefits under this Article.
16 (Source: P.A. 83-1440.)
 
17     Section 99. Effective date. This Act takes effect upon
18 becoming law.