SB1434 102ND GENERAL ASSEMBLY

LRB102 11212 RPS 16544 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB1434

Introduced 2/25/2021, by Sen. Dan McConchie

SYNOPSIS AS INTRODUCED:

40 ILCS 5/18-101

from Ch. 108 1/2, par. 18-101

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

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 18-101 as follows:

(40 ILCS 5/18-101) (from Ch. 108 1/2, par. 18-101)

Sec. 18-101. Creation of fund. A retirement system is created to be known as the the "Judges Retirement System of Illinois". It shall be a trust separate and distinct from all other entities, maintained for the purpose of securing the payment of annuities and benefits as prescribed herein.

(Source: Laws 1963, p. 161.)