SB2314 93RD GENERAL ASSEMBLY

LRB093 19719 LRD 45460 b

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.

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT in relation to pensions.

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 2-101 as follows:

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

Sec. 2-101. Creation of retirement system. A retirement system is created to provide retirement annuities, survivor's annuities and other benefits for members of the General Assembly, certain elected state officials and their beneficiaries.

The system shall be known as the "General Assembly Retirement System". All its funds and property shall be a trust separate from all other entities, maintained for the purpose of securing payment of annuities and benefits under this Article.

(Source: P.A. 83-1440.)

Section 99. Effective date. This Act takes effect upon becoming law.