|
|
|
|
93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB5755
Introduced 2/6/2004, by 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.
|
| |
|
|
| PENSION IMPACT NOTE ACT MAY APPLY | |
|
|
|
A BILL FOR
|
|
|
|
|
HB5755 |
|
LRB093 17277 LRD 42943 b |
|
|
| 1 |
| AN ACT in relation to pensions.
|
| 2 |
| Be it enacted by the People of the State of Illinois, |
| 3 |
| represented in the General Assembly:
|
| 4 |
| Section 5. The Illinois Pension Code is amended by changing |
| 5 |
| Section 7-102 as
follows:
|
| 6 |
| (40 ILCS 5/7-102) (from Ch. 108 1/2, par. 7-102)
|
| 7 |
| Sec. 7-102. Purpose of fund. The purpose of this fund is |
| 8 |
| to provide a
sound
and
efficient system for
the payment of |
| 9 |
| annuities and other benefits, in addition to the annuities
and |
| 10 |
| benefits available, as herein provided, under the Federal |
| 11 |
| Social
Security Act, to certain officers and employees, and to |
| 12 |
| their
beneficiaries, of municipalities, as herein defined.
|
| 13 |
| It is the mission of this Fund to efficiently and |
| 14 |
| impartially develop,
implement and administer programs that |
| 15 |
| provide income protection to members
and their beneficiaries on |
| 16 |
| behalf of participating employers in a prudent
manner.
|
| 17 |
| (Source: P.A. 87-740.)
|