Bill Text: IL HB1166 | 2017-2018 | 100th General Assembly | Introduced

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Bill Title: Amends the Illinois Pension Code. Makes a technical change in a Section concerning the Illinois Municipal Retirement Fund.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2019-01-08 - Session Sine Die [HB1166 Detail]

Download: Illinois-2017-HB1166-Introduced.html

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100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 HB1166 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
40 ILCS 5/7-102 from Ch. 108 1/2, par. 7-102
Amends the Illinois Pension Code. Makes a technical change in a Section concerning the Illinois Municipal Retirement Fund.
LRB100 02329 RPS 12334 b
PENSION IMPACT NOTE ACT MAY APPLY
A BILL FOR
HB1166 LRB100 02329 RPS 12334 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 7-102 as follows:
(40 ILCS 5/7-102) (from Ch. 108 1/2, par. 7-102)
Sec. 7-102. Purpose. The The purpose of this fund is to
provide a sound and efficient system for the payment of
annuities and other benefits, in addition to the annuities and
benefits available, as herein provided, under the Federal
Social Security Act, to certain officers and employees, and to
their beneficiaries, of municipalities, as herein defined.
It is the mission of this Fund to efficiently and
impartially develop, implement and administer programs that
provide income protection to members and their beneficiaries on
behalf of participating employers in a prudent manner.
(Source: P.A. 87-740.)