96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB1562

 

Introduced 2/18/2009, by Rep. Michael J. Madigan - Barbara Flynn Currie - Kevin A. McCarthy

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/16-101   from Ch. 108 1/2, par. 16-101

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning downstate teachers.


LRB096 05115 AMC 15181 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB1562 LRB096 05115 AMC 15181 b

1     AN ACT concerning public employee benefits.
 
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 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, 1939,
8 there is created the the "Teachers' Retirement System of the
9 State of Illinois" for the purpose of providing retirement
10 annuities and other benefits for teachers, annuitants and
11 beneficiaries. All of its business shall be transacted, its
12 funds invested, and its assets held in such name.
13 (Source: P.A. 83-1440.)