95TH GENERAL ASSEMBLY
State of Illinois
2007 and 2008
HB1224

 

Introduced , by Rep. Jack D. Franks

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/7-102   from Ch. 108 1/2, par. 7-102

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning the Illinois Municipal Retirement Fund.


LRB095 08051 AMC 28213 b

 

 

A BILL FOR

 

HB1224 LRB095 08051 AMC 28213 b

1     AN ACT concerning public employee benefits.
 
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 7-102 as follows:
 
6     (40 ILCS 5/7-102)  (from Ch. 108 1/2, par. 7-102)
7     Sec. 7-102. Purpose. The The purpose of this fund is to
8 provide a sound and efficient system for the payment of
9 annuities and other benefits, in addition to the annuities and
10 benefits available, as herein provided, under the Federal
11 Social Security Act, to certain officers and employees, and to
12 their beneficiaries, of municipalities, as herein defined.
13     It is the mission of this Fund to efficiently and
14 impartially develop, implement and administer programs that
15 provide income protection to members and their beneficiaries on
16 behalf of participating employers in a prudent manner.
17 (Source: P.A. 87-740.)