102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
Introduced 2/17/2021, by Rep. Emanuel Chris Welch
SYNOPSIS AS INTRODUCED:
40 ILCS 5/5-101
from Ch. 108 1/2, par. 5-101
Amends the Illinois Pension Code. Makes a technical change in a
concerning Chicago police.
|PENSION IMPACT NOTE ACT MAY APPLY|
A BILL FOR
|HB1440||LRB102 03456 RPS 13469 b|
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 Section 5-101 as follows:
(40 ILCS 5/5-101)
(from Ch. 108 1/2, par. 5-101)
Creation of fund.
In each city of more than
500,000 inhabitants a policemen's annuity
shall be created and maintained for the benefit of its
policemen, their widows and children, and of all contributors
participants in, and beneficiaries of any police pension
fund in operation,
by authority of law, in such city
immediately prior to the effective date.
For the purposes of
this Article, the policemen's annuity and benefit fund
referred to as the "fund."
(Source: Laws 1963, p. 161