93RD GENERAL ASSEMBLY
State of Illinois
2003 and 2004
SB2311

 

Introduced 1/28/2004, by Bill Brady

 

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

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning Chicago police. Effective Immediately.


LRB093 19718 LRD 45459 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB2311 LRB093 19718 LRD 45459 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 5-101 as follows:
 
6     (40 ILCS 5/5-101)  (from Ch. 108 1/2, par. 5-101)
7     Sec. 5-101. Creation of fund. In each city of more than
8 500,000 inhabitants a policemen's annuity and benefit fund
9 shall be created and maintained for the benefit of its
10 policemen, their widows and children, and of all contributors
11 to, participants in, and beneficiaries of any police pension
12 fund in operation, by authority of law, in the such city
13 immediately prior to the effective date. For the purposes of
14 this Article, the policemen's annuity and benefit fund may be
15 referred to as the "fund."
16 (Source: Laws 1963, p. 161.)
 
17     Section 99. Effective date. This Act takes effect upon
18 becoming law.