97TH GENERAL ASSEMBLY
State of Illinois
2011 and 2012
SENATE JOINT RESOLUTION CONSTITUTIONAL AMENDMENT
SC0017

 

Introduced 2/10/2011, by Sen. Bill Brady

 

SYNOPSIS AS INTRODUCED:
 
ILCON Art. XIII, Sec. 5

    Proposes to amend the General Provisions Article of the Illinois Constitution. Provides that a new benefit increase shall not take effect unless, within 60 calendar days after the effective date of the Public Act creating that new benefit increase, the Auditor General certifies (i) that each State-funded pension or retirement system was at least 90% funded as of the date of the annual actuarial valuation occurring immediately before the effective date of the Public Act creating the new benefit increase and that each system has received any required State contributions that came due between the date of that valuation and the effective date of the Public Act creating the new benefit increase or (ii) that enactment of the new benefit increase is required to maintain a State-funded system's qualified plan status. Defines "new benefit increase" and "State-funded pension or retirement system". Effective upon being declared adopted in accordance with Section 7 of the Illinois Constitutional Amendment Act.


LRB097 06141 JDS 46215 e

 

SC0017LRB097 06141 JDS 46215 e

1
SENATE JOINT RESOLUTION
2
CONSTITUTIONAL AMENDMENT

 
3    RESOLVED, BY THE SENATE OF THE NINETY-SEVENTH GENERAL
4ASSEMBLY OF THE STATE OF ILLINOIS, THE HOUSE OF REPRESENTATIVES
5CONCURRING HEREIN, that there shall be submitted to the
6electors of the State for adoption or rejection at the general
7election next occurring at least 6 months after the adoption of
8this resolution a proposition to amend Section 5 of Article
9XIII of the Illinois Constitution as follows:
 
10    (ILCON Art. XIII, Sec. 5)
11SECTION 5. PENSION AND RETIREMENT SYSTEMS RIGHTS
12    (a) Membership in any pension or retirement system of the
13State, any unit of local government or school district, or any
14agency or instrumentality thereof, shall be an enforceable
15contractual relationship, the benefits of which shall not be
16diminished or impaired.
17    (b) A new benefit increase shall not take effect unless,
18within 60 calendar days after the effective date of the Public
19Act creating that new benefit increase, the Auditor General
20certifies (i) that each State-funded pension or retirement
21system was at least 90% funded as of the date of the annual
22actuarial valuation occurring immediately before the effective
23date of the Public Act creating the new benefit increase and
24that each system has received any required State contributions

 

 

SC0017- 2 -LRB097 06141 JDS 46215 e

1that came due between the date of that valuation and the
2effective date of the Public Act creating the new benefit
3increase or (ii) that enactment of the new benefit increase is
4required to maintain a State-funded system's qualified plan
5status.
6    For the purposes of this subsection (b):
7        "New benefit increase" means any increase in the amount
8    of a benefit provided by a State-funded pension or
9    retirement system, or any expansion in the conditions of
10    eligibility for such a benefit, that results from enactment
11    of a Public Act that takes effect after the effective date
12    of this subsection (b).
13        "State-funded pension or retirement system" means the
14    pension and retirement systems created under Articles 2,
15    14, 15, 16, and 18 of the Illinois Pension Code or any
16    successors to those systems.
17    This subsection (b) applies notwithstanding any provision
18to the contrary in either subsection (a) of this Section or
19Article IV.
20(Source: Illinois Constitution.)
 
21
SCHEDULE
22    This Constitutional Amendment takes effect upon being
23declared adopted in accordance with Section 7 of the Illinois
24Constitutional Amendment Act.