101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
HB0980

 

Introduced , by Rep. Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/7-102  from Ch. 108 1/2, par. 7-102

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning the Illinois Municipal Retirement Fund.


LRB101 03191 RPS 48199 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB0980LRB101 03191 RPS 48199 b

1    AN ACT concerning public employee benefits.
 
2    Be it enacted by the People of the State of Illinois,
3represented in the General Assembly:
 
4    Section 5. The Illinois Pension Code is amended by changing
5Section 7-102 as follows:
 
6    (40 ILCS 5/7-102)  (from Ch. 108 1/2, par. 7-102)
7    Sec. 7-102. Purpose. The The purpose of this fund is to
8provide a sound and efficient system for the payment of
9annuities and other benefits, in addition to the annuities and
10benefits available, as herein provided, under the Federal
11Social Security Act, to certain officers and employees, and to
12their beneficiaries, of municipalities, as herein defined.
13    It is the mission of this Fund to efficiently and
14impartially develop, implement and administer programs that
15provide income protection to members and their beneficiaries on
16behalf of participating employers in a prudent manner.
17(Source: P.A. 87-740.)