Public Act 094-0536
 		





SB0763 Enrolled
LRB094 04424 AMC 34453 b






    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 2-134 as follows:
 



    (40 ILCS 5/2-134)
  (from Ch. 108 1/2, par. 2-134)



    Sec. 2-134. To certify required State contributions and 
submit vouchers. 

    (a) The Board shall certify to the Governor on or before 
December
November 15 of each
year the amount of the required 
State contribution to the System for the next
fiscal year.  The 
certification shall include a copy of the actuarial

recommendations upon which it is based.

    On or before May 1, 2004, the Board shall recalculate and 
recertify to
the Governor the amount of the required State 
contribution to the System for
State fiscal year 2005, taking 
into account the amounts appropriated to and
received by the 
System under subsection (d) of Section 7.2 of the General

Obligation Bond Act.

    (b) Beginning in State fiscal year 1996, on or as soon as 
possible after the
15th day of each month the Board shall 
submit vouchers for payment of State
contributions to the 
System, in a total monthly amount of one-twelfth of the

required annual State contribution certified under subsection 
(a).
From the effective date of this amendatory Act
of the 93rd 
General Assembly through June 30, 2004, the Board shall not

submit vouchers for the remainder of fiscal year 2004 in excess 
of the
fiscal year 2004 certified contribution amount 
determined
under this Section after taking into consideration 
the transfer to the
System under subsection (d) of Section 
6z-61 of the State Finance Act.
These
vouchers shall be paid by 
the State Comptroller and Treasurer by warrants drawn
on the 
funds appropriated to the System for that fiscal year.  If in 
any month
the amount remaining unexpended from all other 
appropriations to the System for
the applicable fiscal year 
(including the appropriations to the System under
Section 8.12 
of the State Finance Act and Section 1 of the State Pension 
Funds
Continuing Appropriation Act) is less than the amount 
lawfully vouchered under
this Section, the difference shall be 
paid from the General Revenue Fund under
the continuing 
appropriation authority provided in Section 1.1 of the State

Pension Funds Continuing Appropriation Act.

    (c) The full amount of any annual appropriation for the 
System for
State fiscal year 1995 shall be transferred and made 
available to the System
at the beginning of that fiscal year at 
the request of the Board.
Any excess funds remaining at the end 
of any fiscal year from appropriations
shall be retained by the 
System as a general reserve to meet the System's
accrued 
liabilities.

(Source: P.A. 93-2, eff. 4-7-03; 93-665, eff. 3-5-04.)

 

    Section 99. Effective date. This Act takes effect upon 
becoming law.




Effective Date:  8/10/2005