97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SB0030
 
Introduced 1/27/2011, by Sen. Chris Lauzen
 
SYNOPSIS AS INTRODUCED:
 


40 ILCS 5/2-101  from Ch. 108 1/2, par. 2-101
40 ILCS 5/2-105  from Ch. 108 1/2, par. 2-105

    Amends the General Assembly Article of the Illinois Pension Code. Restricts participation in the General Assembly Retirement System to persons who become participants before July 1, 2011 and provides that, beginning on that date, the System shall not accept any new participants. Makes related changes. Effective immediately.



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FISCAL NOTE ACT MAY APPLY
PENSION IMPACT NOTE ACT MAY APPLY
 
 
A BILL FOR
 


SB0030LRB097 02752 JDS 42774 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 
5Sections
2-101 and 2-105 as follows:



 
6    (40 ILCS 5/2-101)  (from Ch. 108 1/2, par. 2-101)

7    Sec. 2-101. Creation of system.   A retirement system is 
8created to provide
retirement annuities, survivor's annuities 
9and other benefits for certain
members of the General Assembly, 
10certain elected state officials, and their
beneficiaries.


11    The system shall be known as the "General Assembly 
12Retirement System".
All its funds and property shall be a trust 
13separate from all other
entities, maintained for the purpose of 
14securing payment of annuities and
benefits under this Article.


15    Participation in the retirement system created under this 
16Article is
restricted to persons who become participants before 
17July 1, 2011.
Beginning on that date, the System shall not 
18accept any new participants.


19(Source: P.A. 83-1440.)

 
20    (40 ILCS 5/2-105)  (from Ch. 108 1/2, par. 2-105)

21    Sec. 2-105. Member.  "Member": Members of the General 
22Assembly of this
State, including persons who enter military 
 
 
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1service while a member of the
General Assembly, and any person 
2serving as Governor, Lieutenant Governor,
Secretary of State, 
3Treasurer, Comptroller, or Attorney General for the period
of 
4service in such office.


5    Any person who has served for 10 or more years as Clerk or 
6Assistant Clerk
of the House of Representatives, Secretary or 
7Assistant Secretary of the
Senate, or any combination thereof, 
8may elect to become a member
of this system while thenceforth 
9engaged in such service by filing a
written election with the 
10board.  Any person so electing shall be
deemed an active member 
11of the General Assembly for the purpose of validating
and 
12transferring any service credits earned under any of the funds 
13and systems
established under Articles 3 through 18 of this 
14Code.


15    However, notwithstanding any other provision of this 
16Article, a person
shall not be deemed a member for the purposes 
17of this Article unless he or she
became a participant of the 
18System before July 1, 2011.


19(Source: P.A. 85-1008.)


 

20    Section 99. Effective date. This Act takes effect upon 
21becoming law.