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| | 97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
HB0517 Introduced 01/31/11, by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
| | 40 ILCS 5/5-101 | from Ch. 108 1/2, par. 5-101 |
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Amends the Illinois Pension Code. Makes a technical change in a Section
concerning Chicago police.
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| | | PENSION IMPACT NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | HB0517 | | LRB097 03344 JDS 43381 b |
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| 1 | | AN ACT concerning public employee benefits.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Pension Code is amended by changing |
| 5 | | Section 5-101 as follows:
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| 6 | | (40 ILCS 5/5-101) (from Ch. 108 1/2, par. 5-101)
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| 7 | | Sec. 5-101. Creation of fund.
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| 8 | | In each city of more than 500,000 inhabitants a policemen's |
| 9 | | annuity and
and
benefit fund shall be created and maintained |
| 10 | | for the benefit of its
policemen, their widows and children, |
| 11 | | and of all contributors to,
participants in, and beneficiaries |
| 12 | | of any police pension fund in operation,
by authority of law, |
| 13 | | in such city immediately prior to the effective date.
For the |
| 14 | | purposes of this Article, the policemen's annuity and benefit |
| 15 | | fund
may be referred to as the "fund." |
| 16 | | (Source: Laws 1963, p. 161.)
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