SB1059 102ND GENERAL ASSEMBLY

LRB102 04874 RPS 14893 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB1059

Introduced 2/25/2021, by Sen. Don Harmon

SYNOPSIS AS INTRODUCED:

40 ILCS 5/17-101

from Ch. 108 1/2, par. 17-101

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

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Pension Code is amended by changing Section 17-101 as follows:

(40 ILCS 5/17-101) (from Ch. 108 1/2, par. 17-101)

Sec. 17-101. Creation of fund. In each city with a population over 500,000, there is created a Public School Teachers' Pension and and Retirement Fund to be maintained and administered in the manner prescribed in this Article and to be known as the Public School Teachers' Pension and Retirement Fund of ....(city).

(Source: Laws 1963, p. 161.)