Bill Text: IL HB0514 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the General Assembly Article of the Illinois Pension Code. Makes a technical change in a Section concerning the creation of the retirement system.

Sponsorship: Partisan Bill (Democrat 1)

Status: (Failed) 2013-01-08 - Session Sine Die [HB0514 Detail]

Download: Illinois-2011-HB0514-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB0514 Introduced , by Rep. Michael J. Madigan 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.
LRB097 03341 JDS 43378 b
PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB0514 LRB097 03341 JDS 43378 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 2-101 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.)