HB5873 96TH GENERAL ASSEMBLY

LRB096 19254 AMC 34645 b

96TH GENERAL ASSEMBLY
State of Illinois
2009 and 2010
HB5873

Introduced 2/10/2010, by Rep. Robert F. Flider

SYNOPSIS AS INTRODUCED:

40 ILCS 5/1A-108.1 new

Amends the Illinois Pension Code. Provides that, by January 1, 2011 and annually thereafter, the Division must submit a report to the General Assembly and the Governor on the actuarial funding level and funding level requirements for the downstate police and fire pension funds and the Illinois Municipal Retirement Fund. Effective immediately.

FISCAL NOTE ACT MAY APPLY

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 adding Section 1A-108.1 as follows:

(40 ILCS 5/1A-108.1 new)

Sec. 1A-108.1. Report on funding requirements. By January 1, 2011 and annually thereafter, the Division must submit a report to the General Assembly and the Governor on the actuarial funding level and funding level requirements for the pension funds created under Articles 3, 4, and 7 of this Code.

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