93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
HB5760

 

Introduced 2/6/2004, by Michael J. Madigan

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/16-101   from Ch. 108 1/2, par. 16-101

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning downstate teachers.


LRB093 17265 LRD 42931 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

HB5760 LRB093 17265 LRD 42931 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 16-101 as follows:
 
6     (40 ILCS 5/16-101)  (from Ch. 108 1/2, par. 16-101)
7     Sec. 16-101. Creation of system. Effective July 1, 1939,
8 there is created the "Teachers' Retirement System of the State
9 of Illinois" for the purpose of providing retirement annuities
10 and other benefits for teachers, annuitants and beneficiaries.
11 All of its business shall be transacted, its funds invested,
12 and its assets held in this such name.
13 (Source: P.A. 83-1440.)