HB5023 94TH GENERAL ASSEMBLY

LRB094 14477 RCE 49414 b

94TH GENERAL ASSEMBLY
State of Illinois
2005 and 2006
HB5023

Introduced 01/24/06, by Rep. Michael J. Madigan - Barbara Flynn Currie - Richard T. Bradley

SYNOPSIS AS INTRODUCED:

40 ILCS 5/8-101

from Ch. 108 1/2, par. 8-101

Amends the Illinois Pension Code. Makes a technical change in a Section concerning Chicago municipal employees, officers, and officials.

PENSION IMPACT NOTE ACT MAY APPLY

A BILL FOR

AN ACT concerning pensions.

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 8-101 as follows:

(40 ILCS 5/8-101) (from Ch. 108 1/2, par. 8-101)

Sec. 8-101. Creation of fund.

In each city of more than 500,000 inhabitants a Municipal Employees', Officers', and and Officials' Annuity and Benefit Fund shall be created, set apart, maintained and administered, in the manner prescribed in this Article, for the benefit of the employees, officers and officials herein designated, and their beneficiaries.

(Source: Laws 1963, p. 161.)