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| | 98TH GENERAL ASSEMBLY
State of Illinois
2013 and 2014
HB2906 Introduced , by Rep. Stephanie A Kifowit SYNOPSIS AS INTRODUCED:
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| 40 ILCS 5/2-101 | from Ch. 108 1/2, par. 2-101 |
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Amends the General Assembly Article of the Illinois Pension Code. Provides that participation in the General Assembly Retirement System is restricted to those individuals who first became participants before the effective date of the amendatory Act. Effective immediately.
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| | | FISCAL NOTE ACT MAY APPLY | | PENSION IMPACT NOTE ACT MAY APPLY |
| | A BILL FOR |
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| | HB2906 | | LRB098 03994 JDS 34014 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,
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| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Illinois Pension Code is amended by changing |
| 5 | | Section 2-101 as follows:
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| 6 | | (40 ILCS 5/2-101) (from Ch. 108 1/2, par. 2-101)
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| 7 | | Sec. 2-101. Creation of system. A retirement system is |
| 8 | | created to provide retirement annuities,
survivor's annuities |
| 9 | | and other benefits for certain members of the
General Assembly, |
| 10 | | certain elected state officials, and their beneficiaries.
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| 11 | | The system shall be known as the "General Assembly |
| 12 | | Retirement System".
All its funds and property shall be a trust |
| 13 | | separate from all other
entities, maintained for the purpose of |
| 14 | | securing payment of annuities and
benefits under this Article.
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| 15 | | Notwithstanding any other provision of this Article, |
| 16 | | participation in the retirement system created under this |
| 17 | | Article is restricted to those individuals who first became |
| 18 | | participants before the effective date of this amendatory Act |
| 19 | | of the 98th General Assembly. |
| 20 | | (Source: P.A. 83-1440.)
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| 21 | | Section 99. Effective date. This Act takes effect upon |
| 22 | | becoming law.
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