SB1430 101ST GENERAL ASSEMBLY

LRB101 10903 RPS 56050 b

101ST GENERAL ASSEMBLY
State of Illinois
2019 and 2020
SB1430

Introduced 2/13/2019, by Sen. Suzy Glowiak

SYNOPSIS AS INTRODUCED:

40 ILCS 5/2-101

from Ch. 108 1/2, par. 2-101

Amends the Illinois Pension Code. Makes a technical change in a Section concerning the General Assembly.

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning public employee benefits.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The Illinois Pension Code is amended by changing Section 2-101 as follows:

(40 ILCS 5/2-101) (from Ch. 108 1/2, par. 2-101)

Sec. 2-101. Creation of system. A retirement system is created to provide retirement annuities, survivor's annuities and and other benefits for members of the General Assembly, certain elected state officials and their beneficiaries.

The system shall be known as the "General Assembly Retirement System". All its funds and property shall be a trust separate from all other entities, maintained for the purpose of securing payment of annuities and benefits under this Article.

(Source: P.A. 83-1440.)