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| | 99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB0842 Introduced 2/11/2015, by Sen. John G. Mulroe SYNOPSIS AS INTRODUCED:
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| 40 ILCS 5/6-188 | from Ch. 108 1/2, par. 6-188 |
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Amends the Chicago Firefighter Article of the Illinois Pension Code. Requires that the annual report include a statement of the amount of revenue needed from all sources to fund the liabilities of the Fund.
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| | | PENSION IMPACT NOTE ACT MAY APPLY | |
| | A BILL FOR |
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| | SB0842 | | LRB099 06842 EFG 26916 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 6-188 as follows:
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| 6 | | (40 ILCS 5/6-188) (from Ch. 108 1/2, par. 6-188)
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| 7 | | Sec. 6-188. To submit annual report to city council.
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| 8 | | To submit a report annually in June to the city council. |
| 9 | | The report
shall be made as of the close of business on |
| 10 | | December 31st of the preceding
year, and shall contain a |
| 11 | | detailed statement of the affairs of the fund,
its income and |
| 12 | | disbursements for such year, its assets and liabilities, the |
| 13 | | amount of revenue needed from all sources to fund those |
| 14 | | liabilities, and
the status of the fund reserves.
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| 15 | | (Source: Laws 1963, p. 161.)
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