Bill Text: IL HB0417 | 2013-2014 | 98th General Assembly | Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2014-12-03 - Session Sine Die [HB0417 Detail]

Download: Illinois-2013-HB0417-Introduced.html

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98TH GENERAL ASSEMBLY State of Illinois 2013 and 2014 HB0417 Introduced , by Rep. Michael J. Madigan 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.
LRB098 03242 JDS 33257 b
PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB0417 LRB098 03242 JDS 33257 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 16-101 as follows:
(40 ILCS 5/16-101) (from Ch. 108 1/2, par. 16-101)
Sec. 16-101. Creation of system. Effective July 1, 1939,
there is created the the "Teachers' Retirement System of the
State of Illinois" for the purpose of providing retirement
annuities and other benefits for teachers, annuitants and
beneficiaries. All of its business shall be transacted, its
funds invested, and its assets held in such name.
(Source: P.A. 83-1440.)