Bill Text: IL HR0776 | 2011-2012 | 97th General Assembly | Introduced
Bill Title: Resolves that the Commission on Government Forecasting and Accountability study the impact of time and interest on the underfunding of the State-funded retirement systems.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Failed) 2013-01-08 - Session Sine Die [HR0776 Detail]
Download: Illinois-2011-HR0776-Introduced.html
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1 | HOUSE RESOLUTION
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2 | WHEREAS, The Illinois public pension systems are estimated | ||||||
3 | to have an unfunded liability of over $80 billion, and the | ||||||
4 | State's contribution to those systems is increasing each year; | ||||||
5 | and
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6 | WHEREAS, The Pew Center issued a study on state pensions, | ||||||
7 | titled "The Trillion Dollar Gap", which reported that Illinois | ||||||
8 | has the worst-funded pension systems in the nation; and
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9 | WHEREAS, The current funding schedule that Illinois uses is | ||||||
10 | not adequate to meet the funding needs of the pension systems; | ||||||
11 | and
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12 | WHEREAS, The longer Illinois waits to fix the problem of | ||||||
13 | funding the pension systems, the worse the problem gets; | ||||||
14 | therefore, be it
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15 | RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE | ||||||
16 | NINETY-SEVENTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that | ||||||
17 | the Commission on Government Forecasting and Accountability | ||||||
18 | study the impact of time and interest on the underfunding of | ||||||
19 | the State Employees' Retirement System of Illinois, the Judges | ||||||
20 | Retirement System of Illinois, the General Assembly Retirement | ||||||
21 | System, the State Universities Retirement System, and the |
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1 | Teachers' Retirement System of the State of Illinois; and be it | ||||||
2 | further
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3 | RESOLVED, That the Commission on Government Forecasting | ||||||
4 | and Accountability release its report, report to the General | ||||||
5 | Assembly and Governor, and publish on its website all findings | ||||||
6 | by April 30, 2012.
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