99TH GENERAL ASSEMBLY
State of Illinois
2015 and 2016
SB1649

 

Introduced 2/20/2015, by Sen. Steve Stadelman

 

SYNOPSIS AS INTRODUCED:
 
40 ILCS 5/16-101  from Ch. 108 1/2, par. 16-101

    Amends the Illinois Pension Code. Makes a technical change in a Section concerning downstate teachers.


LRB099 09540 EFG 29748 b

PENSION IMPACT NOTE ACT MAY APPLY

 

 

A BILL FOR

 

SB1649LRB099 09540 EFG 29748 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
5Section 16-101 as follows:
 
6    (40 ILCS 5/16-101)  (from Ch. 108 1/2, par. 16-101)
7    Sec. 16-101. Creation of system. Effective July 1, 1939,
8there is created the the "Teachers' Retirement System of the
9State of Illinois" for the purpose of providing retirement
10annuities and other benefits for teachers, annuitants and
11beneficiaries. All of its business shall be transacted, its
12funds invested, and its assets held in such name.
13(Source: P.A. 83-1440.)