**Rep. Barbara Flynn Currie**

**Filed: 6/30/2016**

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1 | `AMENDMENT TO SENATE BILL 2822` ```
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2 | ` ` `AMENDMENT NO. ______. Amend Senate Bill 2822 by replacing ` | ||||||

3 | `everything after the enacting clause with the following:` ```
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4 | ` ` `"Section 5. ` `The Illinois Pension Code is amended by ` | ||||||

5 | `changing Section 17-127 as follows:` ```
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6 | ` ` `(40 ILCS 5/17-127)` ` ` `(from Ch. 108 1/2, par. 17-127)` ```
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7 | ` ` `Sec. 17-127. ` `Financing; revenues for the Fund. ` ```
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8 | ` ` `(a) The revenues for the Fund shall consist of: (1) amounts ` | ||||||

9 | ```
paid into
the Fund by contributors thereto and from employer
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10 | ```
contributions and State
appropriations in accordance with this
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11 | ```
Article; (2) amounts contributed to the
Fund by an Employer;
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12 | ```
(3) amounts contributed to the Fund pursuant to any law
now in
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13 | `force or hereafter to be enacted; (4) contributions from any ` | ||||||

14 | ```
other
source; and (5) the earnings on investments.
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15 | ` ` `(b) The General Assembly finds that for many years the ` | ||||||

16 | ```
State has
contributed to the Fund an annual amount that is
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1 | ```
between 20% and 30% of the
amount of the annual State
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2 | ```
contribution to the Article 16 retirement system,
and the
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3 | `General Assembly declares that it is its goal and intention to ` | ||||||

4 | ```
continue
this level of contribution to the Fund in the future.
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5 | ` ` `(c)` ` Beginning in State fiscal year 1999, the State shall ` | ||||||

6 | ```
include in its annual
contribution to the Fund an additional
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7 | ```
amount equal to 0.544% of the Fund's
total teacher payroll;
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8 | ```
except that this additional contribution need not be
made in a
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9 | `fiscal year if the Board has certified in the previous fiscal ` | ||||||

10 | ```
year
that the Fund is at least 90% funded, based on actuarial
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11 | ```
determinations. These
additional State contributions are
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12 | ```
intended to offset a portion of the cost to
the Fund of the
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13 | `increases in retirement benefits resulting from this ` | ||||||

14 | ```
amendatory
Act of 1998.
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15 | ` ` `(d) In addition to any other contribution required under ` | ||||||

16 | `this Article, including the contribution required under ` | ||||||

17 | `subsection (c), for State fiscal year 2017, the State shall ` | ||||||

18 | `contribute the amount of $205,404,986 to the Fund. This amount ` | ||||||

19 | `shall be deemed a portion of the employer's required ` | ||||||

20 | `contribution.` | ||||||

21 | `(Source: P.A. 90-548, eff. 12-4-97; 90-566, eff. 1-2-98; ` | ||||||

22 | ```
90-582, eff.
5-27-98; 90-655, eff. 7-30-98.)
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23 | ` ` `Section 10. ` `The State Pension Funds Continuing ` | ||||||

24 | `Appropriation Act is amended by changing Section 1.1 as ` | ||||||

25 | `follows:` ```
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1 | ` ` `(40 ILCS 15/1.1)` ```
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2 | ` ` `Sec. 1.1. ` `Appropriations to certain retirement systems. ` ```
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3 | ` ` `(a) There is hereby appropriated from the General Revenue ` | ||||||

4 | ```
Fund to the
General Assembly Retirement System, on a continuing
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5 | ```
monthly basis, the amount,
if any, by which the total available
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6 | ```
amount of all other appropriations to that
retirement system
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7 | ```
for the payment of State contributions is less than the total
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8 | `amount of the vouchers for required State contributions ` | ||||||

9 | ```
lawfully submitted by
the retirement system for that month
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10 | ```
under Section 2-134 of the Illinois
Pension Code.
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11 | ` ` `(b) There is hereby appropriated from the General Revenue ` | ||||||

12 | ```
Fund to the
State Universities Retirement System, on a
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13 | ```
continuing monthly basis, the
amount, if any, by which the
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14 | ```
total available amount of all other appropriations
to that
``` | ||||||

15 | `retirement system for the payment of State contributions, ` | ||||||

16 | ```
including
any deficiency in the required contributions of the
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17 | ```
optional
retirement program established under Section 15-158.2
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18 | ```
of the Illinois Pension
Code,
is less than
the total amount of
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19 | ```
the vouchers for required State contributions lawfully
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20 | `submitted by the retirement system for that month under Section ` | ||||||

21 | ```
15-165 of the
Illinois Pension Code.
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22 | ` ` `(c) There is hereby appropriated from the Common School ` | ||||||

23 | ```
Fund to the
Teachers' Retirement System of the State of
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24 | ```
Illinois,
on a continuing monthly basis, the amount, if any, by
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25 | ```
which the total
available amount of all other appropriations to
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1 | ```
that retirement system for the
payment of State contributions
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2 | ```
is less than the total amount of the vouchers
for required
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3 | `State contributions lawfully submitted by the retirement ` | ||||||

4 | ```
system
for that month under Section 16-158 of the Illinois
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5 | `Pension Code.` ```
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6 | ` ` `(d) There is hereby appropriated from the General Revenue ` | ||||||

7 | ```
Fund to the Judges
Retirement System of Illinois, on a
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8 | ```
continuing monthly basis, the amount, if
any, by which the
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9 | ```
total available amount of all other appropriations to that
``` | ||||||

10 | `retirement system for the payment of State contributions is ` | ||||||

11 | ```
less than the total
amount of the vouchers for required State
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12 | ```
contributions lawfully submitted by
the retirement system for
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13 | ```
that month under Section 18-140 of the Illinois
Pension Code.
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14 | ` ` `(e) The continuing appropriations provided by ` `subsections ` | ||||||

15 | `(a), (b), (c), and (d) of` ```
this Section shall first
be available
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16 | `in State fiscal year 1996. ` `The continuing appropriations ` | ||||||

17 | ```
provided by subsection (h) of this Section shall first
be
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18 | `available as provided in that subsection (h).` ` ` ```
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19 | ` ` `(f) For State fiscal year 2010 only, the continuing ` | ||||||

20 | `appropriations provided by this Section are equal to the amount ` | ||||||

21 | `certified by each System on or before December 31, 2008, less ` | ||||||

22 | `(i) the gross proceeds of the bonds sold in fiscal year 2010 ` | ||||||

23 | `under the authorization contained in subsection (a) of Section ` | ||||||

24 | `7.2 of the General Obligation Bond Act and (ii) any amounts ` | ||||||

25 | `received from the State Pensions Fund. ` | ||||||

26 | ` ` `(g) For State fiscal year 2011 only, the continuing ` |

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1 | ```
appropriations provided by this Section are equal to the amount
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2 | ```
certified by each System on or before April 1, 2011, less
(i)
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3 | ```
the gross proceeds of the bonds sold in fiscal year 2011
under
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4 | ```
the authorization contained in subsection (a) of Section
7.2 of
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5 | ```
the General Obligation Bond Act and (ii) any amounts
received
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6 | `from the State Pensions Fund. ` | ||||||

7 | ` ` `(h) For State fiscal year 2017, there is hereby ` | ||||||

8 | ```
appropriated from the Common School Fund to the
Public School
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9 | `Teachers' Pension and Retirement Fund of Chicago the amount, if ` | ||||||

10 | ```
any, by which the total
available amount of all other State
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11 | ```
appropriations to that Retirement Fund for the
payment of State
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12 | `contributions under subsection (d) of Section 17-127 of the ` | ||||||

13 | `Illinois Pension Code is less than the total amount of required ` | ||||||

14 | `State contributions under subsection (d) of Section 17-127.` ` ` | ||||||

15 | `(Source: P.A. 96-43, eff. 7-15-09; 96-1497, eff. 1-14-11; ` | ||||||

16 | `96-1511, eff. 1-27-11.)".` ```
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